Power-One, Inc. (NASDAQ: PWER) shot up at 8:35 AM EST from $9.96 to $11.73, an increase of 17.77%. This pre-market movement came following an announcement that the company had a second quarter revenue of $215 million and profits of 17 cents a share, beating the Street consensus of $185.7 million in revenue and profits of 10 cents a share. The company has also projected impressive third quarter earnings. These numbers come during a 52-week range of $1.19 â€" $10.28.
The company traded 95,505 shares this morning, compared with the daily average 2,769,270.
Power-One, Inc. design and sell power management solutions for renewable energy, communications infrastructure, and other high technology markets.
-Michael B. Sauter
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