FREMONT, Calif., November 20, 2012, Digital Power Corporation (NYSE Amex: DPW - News) today announced its financial results for the third quarter ended September 30, 2012.
Digital Power’s revenue for the third quarter ended September 30, 2012 were $1,679,000, a decrease of 45% from revenue of $3,024,000 for the same quarter ended September 30, 2011. Net loss for the quarter ended on September 30, 2012 was $459,000 a decrease of 202% from the net income of $449,000 in the quarter ended on September 30, 2011. Gross margin in the quarter ended September 30, 2012 was 38%, a decrease from the gross margin reported on September 30, 2011 of 40%. Operating loss for the quarter ended September 30, 2012 was $243,000, a decrease of 151% from the quarter ended September 30, 2011.
Commenting on the results, Amos Kohn, President and CEO stated, “We faced difficulty this past quarter as many of our customers reduced their orders due to the global economic uncertainty. We collaborate with our customers on new product development that empowers high efficiency power systems which will be released to production in the upcoming quarters.”
Mr. Kohn adds, “Digital Power continues to expand its presence in the defense marine industry and in commercial markets with specialized hardware for custom applications. Our expertise has been recognized by the market and appreciated by our long time customers.”
About Digital Power:
Digital Power Corporation is a solution-driven organization that designs, develops, manufactures and sells high-grade customized and flexible power system solutions for the most demanding applications in the medical, military, telecom and industrial markets. We are highly focused on high-grade and custom product designs for both the commercial and military/defense markets, where customers demand high density, high efficiency and ruggedized products to meet the harshest and/or military mission critical operating conditions. We are a California corporation originally formed in 1969, and our common stock trades on the NYSE Amex under the symbol "DPW". Digital Power's headquarters is located at 41324 Christy Street, Fremont, California, 94538-3158; Contact: Leo Yen, Investor Relations, 510-657-2635; Website: www.digipwr.com