WEST KINGSTON, R.I. — Power supply protection company American Power Conversion
Corporation (APC) reported second quarter earnings of $34.8 million, or 18 cents per share, compared to $35.1 million, or 17 cents per share, during the year-ago period.
Last year’s second quarter income included a charge to pre-tax earnings of $30.4 million associated with the partial write-off of fully paid-up patent licenses, the company said.
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APC’s second quarter revenues were $364.5 million, down 1 percent from $368 million a year ago.
Earlier this month, APC announced plans to cut 700 jobs from its worldwide workforce, including 170 in Rhode Island. Including the most recent round of cuts, APC has reduced its Rhode Island workforce by about 20 percent since the beginning of the year, and has reduced its overall workforce by 15 percent over the last year. At last count, it employed 7,350 people.
Shares of APC on Thursday closed up 20 cents, or 1.61 percent, at $12.62.
