Power-One (PWER), which makes power conversion and management products for the renewable energy industry, has really been on a roll after breaking out of a cup with handle base on April 14th.  It’s up about 40% in the past two weeks and may tack on another 20% tomorrow after beating Wall St earnings estimates after the bell today.  It’s hard to believe this stock was just .33/share a year ago.  The company reported its 2nd straight profitable quarter and is on pace for the first profitable year in company history.  They reported an EPS of .04/share which was .03 higher than the .01/share Wall St estimate on record revenues of $152 million.  That’s good for a quarter over quarter EPS and revenue growth rate of 500% and 56% respectively.

====> Click Here For Your FREE Power One Analysis

For the first time in company history, its renewable energy products now make up the majority of its revenues.  That segment of the company brought in $82 million in revenue which was a 556% increase over the year ago quarter.  Now that’s what I call a company running on all cylinders!  Also impressive is the improvement in gross margins which more than doubled from 14% in the year ago quarter to 30% last quarter.

CEO Richard Thompson commented on the quarter:  “Renewable energy products once again showed considerable strength, driving sales and gross margin improvements for Power-One.  With the growth in renewable energy and the restructuring of our power products, we are excited with our near-term opportunities. We are expanding capacity for our renewable energy inverters, signing new licensing agreements with marquee customers for our digital power technology and recording significant wins across most product lines.  Based on the strength and efficiency of our products and technology, we believe that we are taking market share.  Strategically, we are continuing to introduce new products and streamline manufacturing costs while expanding our global presence.”