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Thursday, April 07, 2011 10:24:42 AM
7:25 am ET 04/07/2011 -
Needham & Company maintains a 'Hold' on Power-One (NASDAQ: PWER). Needham analyst says, "Yesterday after market closed, PWER lowered 1Q11 revenue guidance due to near-term subsidy uncertainty in Europe.
In the near-term, we continue to believe PWER will face limited growth and the potential risk for increased pricing pressure (i.e. lower margins) given the uncertainty surrounding the subsidy changes in Italy and Germany, and the lingering risk of excess channel inventory.
Therefore, we recommend investors wait on the sideline until the adverse condition in Europe improves and the channel inventory issue clears up."
"Given the revenue shortfall in 1Q11, we expect PWER to lower its full-year revenue outlook of $1.0-$1.3B on its earnings call on May 5th...We lower our 2011 EPS estimates to $0.98 and 2012 to $1.05 on lower revenue and margin estimates."
I used to be indecisive. Now I'm not so sure.
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