MANHASSET, N.Y. Power supplier Artesyn Technologies Inc. posted third-quarter net earnings of $4.0 million, or 9 cents per share on sales of $102 million, compared with $3.6 million, or 9 cents per share on sales of $107 million in the year-ago third quarter.
Third-quarter results included $0.4 million, or 1 cent per share, of restructuring charges associated with the closure
of Artesyn’s Hungary plant. The company also realized a net tax benefit of $1.6 million, or 3 cents per share, from the elimination of previously established tax contingencies that are no longer required.
Artesyn (Boca Raton, Fla.) reported total orders of $106.1 million, yielding a book-to-bill ratio of 1.04. The quarter-end backlog was $81.8 million.
Artesyn chief executive Joseph O'Donnell said in a statement, "While sales of rectifier and amplifier products contributed to 33 percent sales growth in our wireless infrastructure division during the quarter, sales were pressured from end of life server programs and certain 3G orders not materializing as expected."
For the fourth quarter, Artesyn expects revenue to range from $108 million to $111 million, with earnings per share of 7 to 9 cents.