Exhibit 99.1

For Immediate Release

American Power Conversion Reports Third Quarter 2006 Financial Results

Revenue Increases 21 Percent to a Record $621 Million

WEST KINGSTON, R.I. — November 2, 2006 —

American Power Conversion Corporation (Nasdaq: APCC) (APC) today reported financial results for the third quarter ended September 24, 2006.

Revenue for the third quarter 2006 was a record $621.3 million, up 21 percent from $512.3 million in the third quarter 2005 and up 11 percent sequentially from $560.0 million in the second quarter 2006.  Net income for the third quarter 2006 was $45.1 million or $0.24 per diluted share, down 7 percent from $48.7 million or $0.24 per diluted share in the third quarter 2005 and up 83 percent from $24.7 million or $0.13 per diluted share in the second quarter 2006.

Net income for the third quarter of 2006 includes several previously announced items:

·                  $6.1 million in costs, consisting primarily of employee severance costs, associated with workforce reduction actions announced in June and September.

·                  $1.5 million for severance payments to the company’s former president and CEO, Rodger B. Dowdell, Jr., in accordance with the previously disclosed severance and compensation agreement between the company and Mr. Dowdell.

·                  A net tax benefit of $12.9 million or $0.07 per share associated with the adjustment of income tax provisioning resulting from recent tax audits.

Adjusted for these items, non-GAAP net income in the third quarter was $38.1 million or $0.20 per share, down 22 percent from the third quarter 2005 and up 54 percent from the second quarter 2006.

Third Quarter 2006 Financial Summary

(In millions, except per share amounts)

 

 

 

 

 

YOY

 

 

 

QOQ

 

 

 

Q3 2006

 

Q3 2005

 

Change

 

Q2 2006

 

Change

 

Revenue

 

$

621.3

 

$

512.3

 

21%

 

$

560.0

 

11%

 

Operating Income

 

$

36.8

 

$

58.2

 

(37)%

 

$

27.0

 

36%

 

Net Income

 

$

45.1

 

$

48.7

 

(7)%

 

$

24.7

 

83%

 

Diluted EPS

 

$

0.24

 

$

0.24

 

(3)%

 

$

0.13

 

85%

 

 



The following information was filed by American Power Conversion Corp on Thursday, November 2, 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.

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