APC plans cost cutting to offset reduced profits

KINGSTON — In a conference call recently, American Power Conversion announced it would be introducing cost-cutting measures next month because of declining profits. In a news release preceding the conference call APC said it anticipated fourth quarter revenues of about $400 million, including sales of about $11 million from the recently acquired NetworkAir. APC reported that it expected profits to decline to between 22 cents and 25 cents a share, compared with 29 cents a share in the third quarter. The company attributed the decline to diminished technology demand. The company declined to specify its cost cutting plans until after it releases its earnings figures February 1.