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Technology Stocks : American Power Conversion

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To: Paul M. Rengier who wrote (2512)	10/11/2002 11:44:10 AM
From: JakeStraw	Read Replies (2) of 2574

Makers & Breakers: Powered Up Forbes Magazine Friday October 11, 11:19 am ET By Daniel Lyons biz.yahoo.com American Power Conversion (NasdaqNM:APCC) , the leading maker of battery backups, has suffered in the tech downturn. Sales in APC's most recent quarter were down 13% from last year to $308 million. The company, however, has stayed out of the red, which can't be said for a lot of tech outfits. Last quarter's net income was $29.6 million, or 9.6% of sales. It got there by slashing expenses 15% from the year before. Even with the swoon in info-tech spending, APC has managed 10% average annual sales growth over the past five years. The stock has dropped 40% from its 52-week high and changes hands at a P/E of 20. That represents an opportunity, says Rafael Resendes, cofounder of the Applied Finance Group, a Chicago research firm.

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