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American Power Conversion Reports Third-Quarter Results

American Power Conversion (APC, West Kingston, RI) recently reported record results for the third quarter ended September 26, 1999. Net income for the quarter increased 33 percent to a record $62.1 million, or $0.32 per share, versus $46.6 million, or $0.24 per share, for the quarter ended September 27, 1998. Net sales for the third quarter of 1999 were also a record $355.9 million, an increase of nine percent from $327.4 million reported in the third quarter of 1998."Our third quarter results reflect an extremely solid performance from the worldwide APC team," said Rodger B. Dowdell Jr., APC president and CEO. "We are particularly pleased with our resilient financial model, which has continued to consistently generate strong earnings growth despite challenging global economic conditions and ever changing market dynamics.""Global demand for our power protection solutions remains robust as evidenced by our solid sequential revenue growth of 13 percent versus the second quarter of 1999. Geographically, sequential growth in the Americas (North and Latin America) was 16 percent versus the second quarter of 1999, Europe, the Middle East and Africa (EMEA) 4 percent and Asia 17 percent," added Dowdell.

American Power Conversion Corp.
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