The company reported revenue of $3,172,000 for the second quarter of 2011, an increase of 46% over $2,171,000 for the same quarter in 2010.
Operating income for the second quarter of 2011 was $419,000, compared to an operating profit of $120,000 for the same quarter in 2010. Net income for the second quarter of 2011 was $408,000 or $0.058 per diluted share, compared to a net income of $103,000 or $0.015 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 very pleased to report very strong growth in revenue and net income for our second quarter. The revenue increased by 46% from the same quarter last year and by 48.6% for the six months ended on June 30, 2011, compared to the same period in 2010. This increase was fueled primarily by strong demand from our commercial and medical market segments as well as the delivery of a major international military project. After many months of intense design, test and qualification of several custom design efforts, we have been rewarded with purchase orders and annual purchase contracts for unique solutions in broadcast applications, medical instrumentation as well as Uninterruptible Power Supplies (UPSs) for Aircraft Carriers being built in the UK. This is in addition to export orders for rectifiers and DC systems for destroyers and submarines. As stated last quarter, we intend to further deploy this collaborative strategy to cement long-term relationships with key, targeted accounts.”
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.