APC reports earnings lower than estimates

WEST KINGSTON, R.I. — American Power Conversion announced that its fourth quarter earnings
were lower than the company had predicted last month. Moreover, the company reported
that it expected earnings for the rest of the year to fall below estimates. A
company spokesperson said the company would take action in view of the bleak prospects
which it said stemmed from the weakening information-technology market. What that
action is would be announced at the end of the first quarter, the spokesperson
said. APC reported its earnings had diminished 42.3 percent in the last quarter
to $38.4 million or 20 cents a diluted share. That compares with $66.5 million,
or 34 cents a share in the corresponding quarter in 1999.