Strong sales of its inverter product line used in alternative energy production contributed to Power-One Inc. boosting its net income in the fourth quarter by more than 700 percent when compared to the previous year. The renewable energy products division of the Camarillo-based power products company is growing at a faster rate than the photovoltaic inverter market it serves. “With our focus on technology-leading products and customer service, Power-One is positioned for continued revenue and profitability growth in 2011,” said company CEO Richard Thompson. For the quarter ending Dec. 31, Power-One reported net income of $54.4 million, or $0.35 per diluted share, on revenues of $366.2 million. For the same period in 2009, the company reported a net income of $6.3 million, or $0.05 per diluted share, on revenues of $142.4 million. For the 2010 fiscal year, the company had net income of $147.9 million, or $0.96 per diluted share, on revenues of $1 billion. For the previous fiscal year Power-One brought in net loss of $63.3 million, or $0.74 per diluted share, on revenues of $431.6 million. During the fourth quarter Power-One opened a manufacturing and research and design center in Phoenix. Mark R. Madler