American
Power Conversion Corp. of West Kingston, R.I., a maker of power-supply products, posted a
first-quarter profit of $30 million as sales rose and expenses
declined.
Net income was 15 cents a share, compared with a loss of
$17.9 million, or 9 cents in the year-earlier quarter, Deborah
Hancock, director of investor relations, said. Revenue rose 4.1
percent to $309 million from $296.7 million.
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American Power had expenses of $39.7 million, or 20 cents
a share, in the year-earlier quarter to write down the value of
acquired assets, for job cuts, plant closings and other related
items.
Shares of American Power have risen 25 percent over the past year.
Bloomberg News
