FREMONT, Calif., May 12, 2011 – Digital Power Corporation (DPW - News) today announced its financial results for the first quarter ended March 31, 2011.
The company reported revenue of $2,978,000 for the first quarter of 2011, an increase of 51% over $1,967,000 for the same quarter in 2010.
Operating income for the first quarter of 2011 was $196,000, compared to an operating loss of $172,000 for the same quarter in 2010.
Net income for the first quarter of 2011 was $170,000 or $0.024 per diluted share, compared to a net loss of $132,000 or $0.019 per diluted share for the same quarter in 2010.
Commenting on the results, Amos Kohn, President and CEO of Digital Power Corporation, stated, "We are pleased to report a revenue increase of more than 50% for the first quarter of this year compared to the same quarter of 2010. This revenue increase was due primarily to increased sales of our commercial products in the medical, industrial and telecom markets, and to the delivery of a major international military project. Our growth, along with margin improvements in the quarter, allowed us to post a respectable net income."
Mr. Kohn adds: "After many months of intense design and testing of an advanced medical power solution in collaboration with a customer, the customer awarded us an annual purchase agreement for the solution. We plan implement this business model with other key accounts. In addition, we will continue to focus on advanced, solution-driven applications in our vertical markets. Our strategic achievements this quarter are positioning Digital Power to increase its presence in the industry, and we expect to strengthen our sales force in the next quarter to support our growth strategy."
About Digital Power:
Headquartered in Fremont, Calif., Digital Power Corporation (NYSE Amex: DPW) designs, manufactures and sells high-grade customized and off-the-shelf power system solutions. Its products are used in the most demanding telecom, industrial, medical and military applications where customers demand high density, high efficiency and ruggedized power solutions.
Contact: Guy Levy
Address: 41324 Christy St., Fremont, CA, 94538-3158