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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.
Aon Corporation (NYSE: AON) $38.81. Today announced results for the fourth quarter and full year ended December 31, 2009. Net income attributable to Aon stockholders was $198 million or $0.69 per share, compared to a loss of $6 million or $0.02 per share for the prior year quarter. Net income attributable to Aon stockholders from continuing operations increased 15% to $142 million or $0.49 per share, compared to $123 million or $0.42 per share for the prior year quarter. Net income attributable to Aon stockholders from continuing operations per share, excluding certain items, increased 20% to $0.96 compared to $0.80 for the prior year quarter. Certain items that impacted fourth quarter results and comparisons with the prior year quarter are detailed in the reconciliation of non-GAAP measures on page 12 of this press release.
Total revenue increased 9% to $2.1 billion due to a 6% increase from foreign currency translation and a 5% increase from acquisitions, primarily Benfield, net of dispositions, partially offset by a $24 million or 63% decline in investment income.
What They Do: Aon Corporation (NYSE: AON) is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting. Through its more than 36,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions.
PPL Corporation (NYSE: PPL) $28.62. Today announced full-year earnings for 2009 that tracked well ahead of the company's reported and ongoing earnings forecasts. PPL's reported earnings for 2009 were $1.08 per share, compared with $2.47 per share a year ago. Adjusting for special items, PPL's earnings from ongoing operations for 2009 were $1.95 per share, compared with $2.02 per share for 2008.
For the fourth quarter of 2009, PPL announced reported earnings of $0.40 per share, compared with $0.74 per share a year ago. Adjusting for special items, PPL's earnings from ongoing operations for the fourth quarter of 2009 were $0.52 per share, compared with $0.46 per share a year ago. PPL also reaffirmed its 2010 earnings forecast of $3.10 to $3.50 per share.
What They Do: PPL Corporation, through its subsidiaries, engages in the generation and marketing of electricity in the northeastern and western United States.
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