EXHIBIT 99.1

For Immediate Release

 

American Power Conversion Reports Second Quarter 2006 Financial Results

 

WEST KINGSTON, R.I. -- July 27, 2006

-- American Power Conversion Corporation (Nasdaq: APCC) (APC) today reported financial results for the second quarter ended June 25, 2006.

 

Revenue for the second quarter 2006 was $560.0 million, up 17 percent from $480.6 million in the second quarter 2005 and up 17 percent sequentially from $478.8 million in the first quarter 2006.  Net income for the second quarter 2006 was $24.7 million or $0.13 per diluted share, down 41 percent from $41.9 million or $0.21 per diluted share in the second quarter 2005 and up 70 percent from $14.5 million or $0.07 per diluted share in the first quarter 2006. 

 

Second Quarter 2006 Financial Summary

(In millions, except per share amounts)

 

 

 

 

 

 

 

YOY

 

 

 

QOQ

 

 

 

Q2 2006

 

Q2 2005

 

Change

 

Q1 2006

 

Change

 

Revenue

 

$

560.0

 

$

480.6

 

17%

 

$

478.8

 

17%

 

Operating Income

 

$

27.0

 

$

49.9

 

(46)%

 

$

13.3

 

103%

 

Net Income

 

$

24.7

 

$

41.9

 

(41)%

 

$

14.5

 

70%

 

Diluted EPS

 

$

0.13

 

$

0.21

 

(39)%

 

$

0.07

 

73%

 

 

“The second quarter’s performance continued to reflect strong demand across geographies and major operating segments and extended our double digit year-over-year revenue growth streak to twelve consecutive quarters.  Sequentially, top line growth that outpaced spending growth coupled with gross margin improvement resulted in operating income more than doubling in the second quarter versus the first quarter 2006,” said Rodger B. Dowdell, Jr., APC’s president and chief executive officer.  “I am also pleased to announce that in the first half 2006 we have returned nearly $170 million to shareholders through our cash dividend and stock repurchase programs.  In the second quarter, we repurchased 2.9 million shares representing an approximately $60 million investment.

 

“Through the streamlining of operations, supply chain initiatives and pricing actions, we are taking steps to improve our gross margin, while maintaining investments in innovation, sales and marketing programs to drive awareness and adoption of APC’s network-critical physical infrastructure (NCPI) solutions globally.  Despite continued progress in our operations and supply chain initiatives, the year-over-year trends remain unfavorable although less so than previous



The following information was filed by American Power Conversion Corp on Thursday, July 27, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate American Power Conversion Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by American Power Conversion Corp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account