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April 27, 2006

American Power reports income down 60 percent

SOUTH KINGSTOWN -- American Power Conversion has reported net income for the first quarter down 60 percent compared to the same period last year.

Profits dropped from $36 million, or $.18 per share, to $14.5 million, or $.07 per share.

Overall revenues were up 17 percent for the first quarter, from $408 million last year to $478.8 million.

"We are strategically investing in the areas where APC solutions are delivering substantial benefits to IT and data center managers," said president Rodger B. Dowdell, Jr. "The end result of these investments was very strong performance...as the company extended its quarterly double-digit year-over-year revenue growth streak to 11 consecutive quarters."

Posted by Steve Peoples  at 6:43 PM | Permalink

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