active power inc (ACPW:NASDAQ CM)
active power inc (ACPW) Snapshot
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Open
$4.20
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Previous Close
$4.23
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Day High
$4.33
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Day Low
$4.20
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52 Week High
03/14/13 - $4.98
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52 Week Low
11/16/12 - $2.90
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Market Cap
83.0M
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Average Volume 10 Days
46.1K
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EPS TTM
$-0.02
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Shares Outstanding
19.3M
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EX-Date
--
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P/E TM
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Dividend
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Dividend Yield
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Active Power, Inc., together with its subsidiaries, designs, manufactures, and services uninterruptible power supply (UPS) products and modular infrastructure solution (MIS) products that provide electrical power continuity and integrated infrastructure platforms for data centers and other applications. Its products are designed to deliver continuous clean power; and protect customers from voltage fluctuations, such as surges and sags, and frequency fluctuations, as well as to provide temporary power to bridge the gap between a power outage and the restoration of utility power. The company offers CleanSource UPS, a battery-free UPS system that integrates UPS electronics and its flywheel energy storage system into one compact cabinet lineup; and GenSTART, an optional cooling system and a maintenance package. It also provides customer support services, including infrastructure needs assessment, vetting and validation, alignment with business objectives, system design, deployment, and start-up and commissioning, as well as service, support, and monitoring. The company serves data centers, manufacturing, technology, broadcast and communications, financial, utilities, healthcare, government, and airport industries. Active Power, Inc. sells its products through direct sales force, manufacturer’s representatives, distributors, strategic IT partners, and original equipment manufacturer partners in North America, Europe, the Middle East, Africa, and the Asia Pacific. The company was founded in 1992 and is headquartered in Austin, Texas.
active power inc (ACPW) Top Compensated Officers
active power inc (ACPW) Key Developments
With the goal of putting in place resilient electrical infrastructure and achieving a low power usage effectiveness (PUE), Datum, has deployed Active Power Inc.'s CleanSource(R) 1000 kVA uninterruptible power supply (UPS) system at its new colocation facility in QinetiQ Cody Technology Park in Farnborough, United Kingdom. The flagship facility, designed and built by specialist firm Keysource, opened earlier this year and includes as its customers managed service providers, systems integrators, and other technology firms. All critical backup power equipment including UPS was deployed in a separate energy centre apart from the main data centre. CleanSource UPS was integrated into a 2N design with two separate power paths supporting the facility's IT loads, ensuring complete resilience and full concurrent maintainability in a modular scalable solution.
Active Power Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenues of $18.610 million compared to $15.2 million in the previous quarter and $19.798 million a year ago. Loss from operations was $0.200 million compared to $1.072 million a year ago. Net loss was $0.273 million compared to $1.147 million a year ago. Basic and diluted net loss per share was $0.01 compared to $0.07 a year ago. Adjusted EBITDA was $0.191 million compared to $0.5 million in the previous quarter and adjusted LBITDA of $0.417 million a year ago. The sequential increase in revenue was due to the increase in UPS sales, while the decrease from the year-ago quarter was attributed to a decline in modular IT infrastructure revenues partially offset by the increase in UPS sales. The net loss reduction from the prior quarter was due primarily to a decrease in operating expenses, partially offset by the decrease in gross profit. The net loss reduction from the first quarter of last year was due to improved gross margins and reduced operating expenses. The sequential quarterly decrease in adjusted EBITDA was due to the change in net loss, the impairment charge in the previous quarter, and lower stock compensation expenses in the first quarter. The increase in adjusted EBITDA from the year-ago quarter was primarily due to a reduction in the year-over-year net loss. Looking at the first quarter of 2013 compared to the fourth quarter of 2012, free cash flow was positive $1.5 million compared to negative $1.6 million. This change was driven primarily by a $1.6 million decrease in inventory due to the recognition of revenue of the previously discussed larger order that moved from fourth quarter of 2012 to the first quarter of 2013. Capex was just over $200,000. The company expects second quarter 2013 revenue to range between $19 million and $22 million. Second quarter loss per share is expected to be between $0.02 and second quarter earnings per share of $0.03. Capex is still expecting that to be less than $2 million.
As a strategic part of its growth moving forward and to expand its distribution of products into the China market, Active Power has entered into a partnership agreement with Digital China Information Service Company Limited China's No. 1 IT solutions distribution and system integration firm. Under the new agreement, DCITS will market and sell Active Power's CleanSource(R) UPS and CleanSource(R) High Density UPS products and PowerHouse(TM) products through its field sales offices in 19 of 22 mainland provinces in China as well as key geographies in the greater Asian market. The partnership also provides for joint sales and marketing and technical support.
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Industry Analysis
ACPW
Industry Average
| Valuation | ACPW | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 1.1x |
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| Price/Book | 3.1x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | 0.8x |
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