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Power-One (Nasdaq: PWER) $3.10. Announced Thursday after market close financial results for the fourth quarter 2009. Power-One recorded net sales of $142 million for the fourth quarter ended January 3, 2010, an increase of 9% from the fourth quarter 2008. Net income attributable to common shareholders for the fourth quarter was $5.4 million, or $0.05 per diluted share, compared to a profit of $1.7 million, or $0.02 per diluted share for the same period last year.
Both renewable energy and power products recorded strong sequential revenue gains in the fourth quarter 2009, with a positive outlook for 2010. Gross margin continued to expand for the third consecutive quarter, improving to 28.9% in the fourth quarter of 2009, compared with 22.0% for the same period last year. Total 90-day backlog showed extraordinary growth, as Power-One posted $121 million in 90-day backlog.
The cash balance at the end of the fourth quarter was $90 million, up from $76 million at the end of the third quarter of 2009. “We are pleased with the progress we have made with our restructuring in power conversion and the rapid growth and outlook for our inverter sales,” commented Richard Thompson, Chief Executive Officer. “We have focused on improving our cost structure and strengthening power product sales and licensing, including our recent agreement with Ericsson. Further, we are investing in growth opportunities and new product initiatives, such as the launch of our 2.5 megawatt liquid-cooled wind inverter.”
What They Do: Power-One designs and manufactures energy-efficient power conversion and power management solutions for alternative/renewable energy, routers, data storage and servers, wireless communications, optical networking, semiconductor test equipment, industrial markets and custom applications.
Weyerhaeuser Company (NYSE: WY) $40.39. Today announced a net loss of $175 million for the fourth quarter 2009, or 83 cents per share, on net sales from continuing operations of $1.5 billion. Last year, Weyerhaeuser reported a fourth quarter net loss of $1.2 billion, or $5.73 per share, on net sales from continuing operations of $1.8 billion.
For the full year 2009, Weyerhaeuser reported a net loss of $545 million, or $2.58 per share, on net sales from continuing operations of $5.5 billion. This compares with a net loss of $1.2 billion, or $5.57 per share, on net sales from continuing operations of $8.1 billion for 2008.
What They Do: Weyerhaeuser Company, one of the world’s largest forest products companies, was incorporated in 1900. In 2009, sales were $5.5 billion. It has offices or operations in 10 countries, with customers worldwide.
Blackbaud, Inc. (Nasdaq: BLKB) $22.29. Today announced financial results for its fourth quarter and full year ended December 31, 2009. On a GAAP basis, Blackbaud reported total revenue of $79.0 million for the quarter ended December 31, 2009, a decrease of 2% compared with the fourth quarter of 2008. Income from operations and net income were $13.3 million and $8.0 million, respectively, compared with $10.1 million and $6.5 million, respectively, for the fourth quarter of 2008. Diluted earnings per share were $0.18 for the quarter ended December 31, 2009, compared with $0.15 in the same period last year.
What They Do: Blackbaud is the leading global provider of software and services designed specifically for nonprofit organizations, enabling them to improve operational efficiency, build strong relationships, and raise more money to support their missions.
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