SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-K

            [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

For the Fiscal year ended JANUARY 1, 1999           Commission File No. 0-4466

                           ARTESYN TECHNOLOGIES, INC.
                           --------------------------
             (Exact name of registrant as specified in its charter)

        FLORIDA                                                  59-1205269
        -------                                                  ----------
    (STATE OR OTHER                                        (I.R.S.  EMPLOYER
    JURISDICTION OF                                         IDENTIFICATION NO.)

    INCORPORATION)

7900 GLADES ROAD, SUITE 500, BOCA RATON, FL                     33434-4105
-------------------------------------------                     ----------
  (Address of principal executive offices)                      (ZIP CODE)

                                (561) 451-1000
                                --------------
             (Registrant's telephone number, including area code)

         SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:
                                      NONE

         SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT:
                          COMMON STOCK, $0.01 PAR VALUE
                          COMMON STOCK PURCHASE RIGHTS
                          ----------------------------
                              (Title of each class)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such shorter  periods that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. YES X NO __.

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of Registrant's  knowledge,  in definitive proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K [ ].

The  aggregate  market value of the Common Stock held by  non-affiliates  of the
Registrant as of March 15, 1999 was approximately $340 million.

As of March 15, 1999,  36,912,885 shares of the  Registrant's,  $0.01 par value,
Common Stock were outstanding.

                       DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Company's annual shareholders' report for the year ended January
1, 1999 (the "Annual  Report") are incorporated by reference into Parts I and II
hereof.

Portions of the Company's proxy statement for the annual meeting of shareholders
to be held on May 6, 1999 are incorporated by reference into Part III hereof.

<PAGE>

                                    PART I

ITEM 1.     BUSINESS

Artesyn  Technologies,   Inc.  (formerly  named  Computer  Products,  Inc.)  was
incorporated  under the laws of the State of Florida in 1968. Unless the context
indicates   otherwise,   as  used  herein  the  term  "Company"   means  Artesyn
Technologies, Inc. and its consolidated subsidiaries.

The Company received shareholder  approval at its annual  shareholders'  meeting
held in May 1998 to legally  change the Company's  corporate  name from Computer
Products,  Inc. to Artesyn  Technologies,  Inc.  Since that date,  the Company's
Common  Stock has been  trading on The Nasdaq  Stock  MarketSM  under the symbol
ATSN.

The  Company  operates  in  one  industry   segment   encompassing  the  design,
development, manufacture, sale and service of electronic products and subsystems
targeted  at  the  communications  industry.  The  Company  designs,   develops,
manufactures and markets (i) power conversion products for electronic  equipment
used in commercial and industrial  applications requiring a precise and constant
voltage  level  for  proper  operation,   (ii)  high  performance   single-board
computers,  systems and  subsystems  for  real-time  applications,  and provides
repair  services  and  logistics  for a variety of  products  primarily  for one
significant customer.

INDUSTRY OVERVIEW

The Company is one of the leading providers of power supplies,  power converters
and  distributed  power  systems to the  communications  industry.  According to
independent  industry  sources,  the Company  ranks among the top ten  worldwide
independent power supply manufacturers in sales volume. The Company also designs
and  manufactures  high  performance  board-level  computers  and  communication
controllers,  integrating  them with  real-time  operating  system and  protocol
software to form complete  subsystems  for  communications  and other  real-time
applications.

Power  supplies,  power  converters and  distributed  power systems perform many
essential  functions  relating to the supply,  regulation,  and  distribution of
electrical  power within  electronic  equipment.  Electronic  systems  require a
steady supply of electrical power at one or more voltage levels.  AC-to-DC power
supplies  convert  alternating  electric  current  ("AC")  (the  form  in  which
virtually all electric current is delivered by utility companies) from a primary
power source into the direct  current ("DC")  required to operate  virtually all
solid state electronic equipment.  DC-to-DC power supplies are used to convert a
particular  direct current voltage into another (higher or lower) direct current
voltage  that is required  by the  electronic  device to which it is  connected.
Power supplies can also be designed to perform diagnostic functions that prevent
electronic equipment from being damaged by such equipment's own malfunction,  as
well as provide power through use of a short-term  battery  back-up  system when
the electronic equipment's primary power source fails.

The prevalent  technology  now used in power  supplies is switching  technology.
Before the development of switching power supplies,  power supply technology was
fairly simple,  and power supplies  consisted of a transformer  and some related
components to rectify and control power surges.  As the complexity of electronic
equipment has increased,  power supplies and their  underlying  technology  have
become more advanced.  Switching power supplies,  such as those  manufactured by
the Company, have hundreds of components,  provide advanced diagnostic and power
management functions,  can be designed to provide battery back-up power, and are
smaller and more  efficient  than the older  power  supplies  that used  simpler
technology.

<PAGE>

                           SWITCHING POWER SUPPLIES

 [GRAPHIC SHOWING FROM AC WALL POWER IN TO AC TO DC POWER SUPPLY TO A DISK
          DRIVE OR MEMORY OR INTEGRATED CIRCUITS OR MOTORS OR MONITORS]

A further  enhancement  of AC-to-DC  power  supplies  emerging  in the  industry
utilizes a newer more flexible switching  technology which the Company refers to
as "distributed  power  architecture"  ("DPA").  Most electronic  systems have a
number of subsystems, each of which may require a different operating voltage or
level of power.  As a result,  power  supplies can be designed to have  multiple
outputs  that can  provide  varying  voltage  levels  to  subsystems  within  an
electronic system. In such power supplies, power is "distributed" throughout the
system so that in addition to the system's main AC-to-DC power supply,  DC-to-DC
converters  located on or near the subsystem or component  being powered  change
the DC voltage to the specific  level of DC voltage  needed for that  particular
subsystem or component.  Distributed  power permits greater  flexibility to meet
the power supply  requirements of electronic systems if components or subsystems
are added or upgraded.

                        DISTRIBUTED POWER ARCHITECTURE

                    [GRAPHIC SHOWING FROM INPUT TO AC TO DC
                   FRONT END TO OUTPUT TO VARIOUS SUB SYSTEMS]

MARKET OVERVIEW

The overall market for power supplies can be classified as follows:

    Merchant/Captive.  Merchant power supply manufacturers, such as the Company,
design and  manufacture  power supplies for use by other third parties.  Captive
power supply  manufacturers design and manufacture power supplies for use within
their own products.  Currently,  the merchant portion of the power supply market
is believed to be approximately 55%. According to independent  industry sources,
the merchant  sector is  projected  to grow to 60% of the overall  market in the
year 2000 as Original  Equipment  Manufacturers  ("OEMs") demand product options
and features and high-quality levels that make power supplies  increasingly more
difficult to design and manufacture in-house.

    PowerRange.  The power  supply  market is also  classified  by power  supply
output range, as follows:

<TABLE>
<CAPTION>

                         Typical                                                            Representative
Power Range           Characteristics                          End Users                     Applications
---------------------------------------------------------------------------------------------------------------------------------
<S>               <C>                                  <C>                             <C>
LOW               o Less than 150 Watts                 o  PC Companies                o Personal Computers
                  o Lower Technology                    o  Consumer Electronics        o Consumer Electronics
                  o Higher Volume                                                      o Desk Top Printers
                  o Lower Margin

MID               o 150-750 Watts                       o  Internetwork Companies      o Routers, Hubs
                  o High Technology                     o  Computer Companies          o Workstations, Fault
                  o Moderate Volume                     o  Medical Companies           o Tolerant Computers
                  o Higher Margin                                                      o Blood Analyzers

HIGH              o More than 750 Watts                 o  Computer Companies          o Main-frame Computers
                  o High Technology                     o  Industrial Companies        o Industrial Process Control
                  o Lower Volume                        o  Internetworking Companies   o High-end Routers/Switches
                  o Higher Margin
</TABLE>

  Custom/Standard.  Custom power supplies are designed and  manufactured to meet
the form,  fit,  and  functional  requirements  of an OEM's  unique and specific
application.  They are attractive to OEMs because they present  increased design
flexibility,  provide the lowest  cost,  and allow the use of special  features.
Standard, "off-the-shelf" power supplies are not design-specific but also do not
require  substantial  up-front  engineering  design  costs.  Once a product  has
reached the stage of development where the OEM is confident that there will be a
market demand for the product, it is typically cost-effective to custom design a
unique power supply to meet that  product's  specific  requirements.  The OEM is
then able to utilize a moderately high-volume, customized solution at the lowest
cost per watt of power without paying for unnecessary features or capabilities.

The  Company  believes a number of  important  trends  currently  affecting  its
customers will continue to shape the power supply marketplace.  The applications
markets that are growing rapidly,  such as workstations and data  communications
hardware (e.g., hubs, routers and file servers),  need mid-range power supplies.
In  addition,  OEMs  face  pressure  from  end-users  to  improve  the price and
performance  of  products,  bring new products to market  quickly,  provide more
product options and features, reduce product size, and meet increasingly complex
safety  and  regulatory  agency  standards.  The  Company  believes  that  these
pressures  will  support  the need for and  encourage  a modest  migration  from
captive  manufacturers  to   merchant-provided,   custom-designed  power  supply
manufacturers,  such as the Company, particularly in the mid-range sector of the
market.

The Company's products are manufactured in Redwood Falls, Minnesota; Broomfield,
Colorado;  Madison, Wisconsin;  Kindberg, Austria; Tatabanya,  Hungary; Youghal,
Ireland;  Oberhausen  and  Ensiedel,  Germany;  and in Hong Kong and  Zhongshan,
China.  Activities  are  also  carried  on  in  Vienna,   Austria;   Etten-Leur,
Netherlands; Eden Prairie, Minnesota;  Framingham,  Massachusetts;  and Fremont,
California.


REPAIR AND LOGISTICS SERVICES

The  Company  provides  repair  services  for a variety  of  products  primarily
manufactured  by  Hewlett-Packard  Company.  The process to repair products that
fail in the field  involves the  logistics  of arranging  for return of products
and, when they have been  repaired,  arranging for delivery of products to their
customers.  This function has  traditionally  been  accomplished  as part of the
OEM's business. In the 1980s and 1990s, as companies have focused their energies
on core  competencies,  electronics  manufacturers  have often  outsourced  many
activities that they do not consider  essential to their  business.  The Company
was retained by  Hewlett-Packard  ("HP") in 1992 to manage  inbound and outbound
logistics for some of HP's  computer  products and to repair  certain  products.
This business has grown rapidly since 1992 as HP has transferred repairs of more
products  to the  Company.  Since  1992,  the Company has taken over from HP the
repair of laserjet and deskjet printers,  facsimile  machines,  and scanners and
the  servicing of other  products.  Through  1998,  nearly all of the  Company's
revenue from repair and logistics services were from HP.

It is the Company's  strategy to expand its facilities within the value chain of
manufacturer  distribution  and  repair.  For  this  purpose,  the  Company  has
established  a Foreign  Trade  Zone  ("FTZ"),  which  allows  reduced or delayed
customs  duties on products  returned  from foreign  locations  for repair or on
component  parts shipped to the United States and assembled in the FTZ. The FTZ,
together  with  existing  repair  processes,  allows the Company to service both
domestic  and foreign  products  and,  in  combination  with its process  design
capability,  to perform  assembly  or light  manufacturing  operations.  Another
expansion of the value chain involves network services operations, which plan to
target configuration and installation of hardware,  as well as provide follow-on
maintenance.

The  Company's  repair and  logistics  services  are  centered  in its  Lincoln,
California, facility.

                                   STRATEGY

The  Company's  objective is to be the supplier of choice to  multinational  OEM
customers who require sophisticated power supply solutions and who are likely to
have substantial volume requirements.  To achieve this objective,  the Company's
strategy is to differentiate  itself from its competition through utilization of
new and advanced  technology  and design,  fastest  time-to-market  and superior
product  performance,  quality,  service and the lowest total cost of ownership.
The Company's  primary target market for the last several years has been OEMs in
the  communications,   networking,   computer  and  other  electronic  equipment
marketplaces.  These OEMs manufacture  hubs,  routers,  high  availability  file
servers and disk arrays which  typically  have  complex  technical  needs,  high
product  reliability  standards,  short product  development cycles and variable
production needs. The Company implements its strategy by combining the following
key elements:

    Deliver High-Quality Products and Services

The Company believes that quality and responsiveness to the customer's needs are
of  critical  importance  in its  efforts to compete  successfully.  The Company
actively involves its employees in implementing  techniques to measure,  monitor
and improve  performance and provides its employees with education and training,
including courses in statistical process control and related  techniques.  Also,
employees  participate in the Company's  planning sessions and monitor adherence
to their annual plans on a monthly  basis.  Through its  commitment  to customer
service and quality,  the Company  believes it is able to provide superior value
to its customers.

    Provide Leading-Edge Engineering and Time-to-Market

The Company's  target  markets and customers  are  characterized  by high growth
rates and continually evolving technology.  As a result, its customers typically
require  leading-edge  technology  designed in a relatively  short  period.  The
Company has been working to reduce the  time-to-market  for its products through
two initiatives:  concurrent engineering and design-ready platforms.  Concurrent
engineering  creates a process allowing all functional  disciplines to take part
in a product's design from the very beginning.  With design-ready platforms, the
Company can modify standard  platforms to meet specific  customers'  needs for a
customized  product, a fast fulfillment  schedule and an affordable price. These
initiatives  have contributed to a reduction of average  time-to-market  from 72
weeks in 1994 to 24 weeks in 1998.

    Develop and Expand Collaborative Relationships

Through the development and expansion of  collaborative  relationships  with its
customers,  the Company attempts to satisfy their needs by offering a full range
of value-added  services,  including design expertise,  process  development and
control, testing,  inventory management, and rapid response to volume and design
changes.  Some  custom-designed  projects are priced  based on  agreed-to  gross
margins  and  allow  for a  sharing  of the  costs,  risks  and  rewards  of the
manufacturing  process with the customer.  These  relationships also provide the
Company with increased knowledge regarding the customer's products.  The Company
focuses its efforts on customers with which it believes the  opportunity  exists
to develop long-term business collaborations.

    Offer Customers the Lowest Total Cost of Ownership

The Company  strives to create  value for its  customer by seeking to offer them
the lowest total cost of ownership.  Through manufacturing flexibility,  reduced
time-to-market,   worldwide  procurement,  design  for  manufacturability,   and
unmatched  customer  service,  the Company is able to complement each customer's
unique set of needs.  The Company  has built  long-standing  relationships  with
industry  leaders by  providing  a high level of  consultation  at the  earliest
stages of design  development.  This hands-on approach is intended to enable the
Company to design all its products to maximize quality and minimize unit cost.

    Leverage  Advanced  Manufacturing  and  Management  Techniques

The Company's  strategy focuses on the quality of all elements of the production
process,  rather than merely the quality of the end product.  To implement  this
strategy,  the Company uses  sophisticated  design and manufacturing  techniques
(such as computer integrated design and manufacture,  computer aided design, and
automated  testing  and  assembly  of printed  circuit  boards),  combined  with
advanced   management   techniques,    including   just-in-time   manufacturing,
statistical process control and total quality commitment. These techniques allow
the  Company  to  decrease  production  costs by  improving  the  efficiency  of
production processes.

    Expand Complementary Businesses

The Company believes that providing a wide range of services affords the Company
a competitive advantage,  as it further addresses customer needs and, therefore,
increases  the  likelihood  that the Company will make  continuing  sales to its
customers.  For  example,  at  a  customer's  request,  the  Company  may  build
assemblies by adding  cables,  harnesses,  frames,  and other  components to its
power supply unit. In addition, it offers power supply repair services for power
supplies manufactured by others.


                            PRODUCTS AND SERVICES

The  Company   currently   offers   standard   power   products  in  over  1,000
configurations  and  accommodates  a wide variety of customer  applications.  In
addition to its  standard  power supply  products,  the Company also pursues the
custom power supply  business  because it  capitalizes  on its  strengths in the
areas of sophisticated design,  volume  manufacturing,  and customer service. It
has been the Company's  experience that  competition  among qualified design and
manufacturing  outsourcing  companies  providing these  customized  solutions is
intense.  The competition  causes downward  pressure on gross margins,  which is
only partially offset by lower selling and distribution costs.

The  Company's  communications  products  are  designed  around and  incorporate
industry standards,  which permit easy portability to a variety of applications.
The technology relies on popular and powerful  microprocessors from sources such
as  Motorola,  Intel  and MIPS.  The  primary  product  line  combines  both the
worldwide industry standard VMEbus, which defines physical board size and signal
characteristics  for  the   interconnection  of   microprocessors.   Application
requirements  for these products  usually include  environments  requiring rapid
computer  response  time  with high  quality  processing  capabilities,  such as
telecommunications or data communications.

For  further  information  on sales,  particularly  with  respect to foreign and
intercompany  sales,  refer to Note 18 of the  Notes to  Consolidated  Financial
Statements in the  Company's  Annual  Report,  which is  incorporated  herein by
reference. The Company's business is not seasonal in nature.

                          MARKETING AND DISTRIBUTION

The Company's  products are sold directly to OEMs,  private-label  customers and
distributors.  In  addition,  the  Company's  sales  and  engineering  personnel
supervise  and  provide  technical  assistance  to  independent  domestic  sales
representatives and to domestic and foreign distributors.

The Company's  customers for  communication  products are primarily OEMs who use
the products for high-speed telecommunications  applications. They are also used
in other areas such as medical  instrumentation,  airplane and weapons  training
simulators,  process control, industrial automation and traffic control systems.
Management  believes  that the market for VMEbus  and  real-time  products  will
expand as  communications  companies  move from  proprietary  to open systems in
order to speed time to market and enhance upgrade capability.

The  Company's   communication   products  are  marketed   domestically  through
independent sales representative organizations.  Substantially all foreign sales
are made through independent foreign distributors and foreign trading companies.
Certain sales are made on a direct basis.

Sales  representatives  are  responsible  for  marketing  the  Company's  repair
business in North America.

Although the Company seeks to diversify both its customer and market application
base, sales to three customers amounted to 17%, 11%, and 10%,  respectively,  of
1998 sales.

The Company has derived a significant  portion of its sales in recent years from
its  international  operations.   Thus,  the  Company's  future  operations  and
financial results could be significantly affected by international factors, such
as changes in foreign  currency  exchange  rates or political  instability.  The
Company's  operating  strategy and pricing take into account changes in exchange
rates over time.  However,  the Company's  future  results of operations  may be
significantly  affected in the short term by  fluctuations  in foreign  currency
exchange rates. See Note 17 of the Notes to Consolidated Financial Statements in
the Company's Annual Report,  incorporated  herein by reference,  for additional
information.

                           MATERIALS AND COMPONENTS

The manufacture of the Company's  products  requires a wide variety of materials
and  components.  The  Company  has  multiple  external  sources for most of the
materials  and  components  used  in  its  production  processes,  and  it  also
manufactures certain of these components.  Although the Company has from time to
time experienced shortages of certain supplies, such shortages have not resulted
in any significant  disruptions in production.  The Company  believes that there
are adequate alternative sources of supply to meet its requirements.

                        INTELLECTUAL PROPERTY MATTERS

The Company  believes that its future  success is primarily  dependent  upon the
technical competence and creative skills of its personnel,  rather than upon any
patent or other proprietary rights.  However,  the Company has protected certain
of its products  with  patents  where  appropriate  and has  defended,  and will
continue to defend, its rights under these patents.

                                   BACKLOG

Sales are  generally  made  pursuant to purchase  orders  rather than  long-term
contracts. Backlog consists of purchase orders on hand generally having delivery
dates  scheduled  within the next six  months.  Order  backlog  from  continuing
operations at January 1, 1999 was $98.3 million as compared to $103.1 million at
January 2, 1998. Historically, the effects of changes and cancellations have not
been  significant  to the  Company's  operations.  The  Company  expects to ship
substantially  all of its  January  1, 1999  backlog  in the first six months of
fiscal 1999.

                                 COMPETITION

The  industry  in  which  the  Company   competes  is  highly   competitive  and
characterized by increasing  customer demands for improved product  performance,
shorter  manufacturing  cycles and lower prices. These trends result in frequent
introductions  of  new  products  with  added   capabilities  and  features  and
continuous  improvements  in the  relative  price/performance  of the  products.
Increased  competition could result in price reductions,  reduced profit margins
and loss of market  share,  each of which could  adversely  affect the Company's
results  of  operations  and  financial   condition.   The  Company's  principal
competitors  include  Lucent  Technologies,  Delta  Product and Astec (BSR) plc.
Certain  of the  Company's  competitors  have also been  engaged  in merger  and
acquisition  transactions.  Such  consolidations  by  competitors  are likely to
create  entities with increased  market share,  customer  bases,  technology and
marketing  expertise,  sales force size, and/or  proprietary  technology.  These
developments may adversely affect the Company's ability to compete.

                           RESEARCH AND DEVELOPMENT

The Company  maintains  active  research and development  departments  which are
engaged  in the  modification  and  improvement  of  existing  products  and the
development of new products.  Expenditures  for research and development  during
fiscal  years 1998,  1997,  and 1996 were  approximately  $33.4  million,  $30.0
million,  and $23.6  million,  respectively.  As a  percentage  of total  sales,
research and  development  accounted  for 6.3%,  5.7%,  and 5.4% in fiscal years
1998,  1997 and  1996,  respectively.  Research  and  development  spending  has
increased in each of the past three years as the Company invested in new product
platforms to service the communications  industry. The Company believes that the
timely  introduction of new technology and products is an important component of
its competitive strategy.

                                  EMPLOYEES

The Company presently employs approximately 4,300 full-time people. In addition,
the  Company   presently  has  approximately   2,300  temporary   employees  and
contractors  primarily in its China facility.  The Company's  ability to conduct
its present and  proposed  activities  would be impaired if the Company lost the
services of a significant  number of its engineers and technicians and could not
readily  replace them with  comparable  personnel.  Although there is demand for
qualified  technical  personnel,  the  Company  has not,  to  date,  experienced
difficulty in  attracting  and retaining  sufficient  engineering  and technical
personnel to meet its needs.

None of the Company's  domestic  employees is covered by  collective  bargaining
agreements.  The  Company  considers  its  relations  with its  employees  to be
satisfactory.

                            ENVIRONMENTAL MATTERS

Compliance  with federal,  state and local laws and  regulations  regulating the
discharge of materials  into the  environment  has not had,  and,  under present
conditions the Company does not anticipate that such laws and  regulations  will
have,  a material  effect on the results of  operations,  capital  expenditures,
financial condition or competitive position of the Company.

ITEM 2.     PROPERTIES

The Company currently occupies approximately 1,400,000 square feet of office and
manufacturing  space worldwide.  Approximately  38% of the space utilized by the
Company is owned  while 62% is  leased.  The  Company  maintains  the  following
facilities: <TABLE> <CAPTION>

                                                                           APPROXIMATE            OWNED VS.
      FACILITY                      PRIMARY ACTIVITY                      SQUARE FOOTAGE           LEASED
      --------                      ----------------                      --------------           ------
<S>                              <C>                                          <C>                  <C>
Boca Raton, FL                  Corporate Headquarters                         7,000               Leased
Broomfield, CO                  Manufacturing                                 81,000               Leased
Eden Prairie, MN                Engineering, Administration                   28,000               Leased
Ensiedel, Germany               Manufacturing                                 28,400               Owned
Etten-Leur, Netherlands         Administration                                19,000               Leased
Framingham, MA                  Engineering, Administration                   25,000               Leased
Fremont, CA                     Engineering, Administration                   45,000               Leased
Hong Kong                       Manufacturing                                144,900               Owned
Huntington Beach, CA            Manufacturing                                 45,000               Leased
Kindberg, Austria               Manufacturing                                 75,000               Leased
Lincoln, CA                     Repair, Logistics                            438,000               Leased
Madison, WI                     Manufacturing                                 46,000               Owned
Oberhausen, Germany             Manufacturing                                 62,500               Owned
Redwood Falls, MN               Manufacturing                                103,000               Owned
Redwood Falls, MN               Manufacturing                                 87,000               Leased
Tatabanya, Hungary              Manufacturing                                 62,000               Owned
Vienna, Austria                 Engineering, Administration                   17,200               Leased
Youghal, Ireland                Manufacturing                                 86,000               Owned

</TABLE>

In addition to the above locations, the Company has leased sales offices located
in or near London,  England;  Paris,  France; and Munich,  Germany.  The Company
considers the facilities described in this Item to be generally well maintained,
adequate for its current  needs and capable of  supporting  a reasonably  higher
level of demand for its products and services.

ITEM 3.     LEGAL PROCEEDINGS

The Company is a party to various  legal  proceedings,  which have arisen in the
ordinary  course of  business.  While the  results  of these  matters  cannot be
predicted with certainty,  the Company believes that losses,  if any,  resulting
from the ultimate  resolution of these matters will not have a material  adverse
effect on the  Company's  consolidated  results  of  operations,  cash  flows or
financial position.

ITEM 4.     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

ITEM 4A.    EXECUTIVE OFFICERS

<TABLE>
<CAPTION>

Name                                Age           Position(s) with the Company
----                                ---           ----------------------------
<S>                               <C>              <C>
Robert J. Aebli                      63           President - Communication Products

Louis R. DeBartelo                   58           President - North America Commercial

Harvey Dewan                         59           President -North America and Asia Manufacturing

Eoin Gilley                          37           Managing Director - Europe

Thomas J. Kent                       50           President - Solutions

Hartmut Liebel                       36           Corporate Treasurer

Joseph J. Matz                       59           Managing Director - Europe Commercial

Joseph M. O'Donnell                  52           Co-Chairman of the Board of Directors,
                                                    President and Chief Executive Officer

John M. Steel                        54           Vice President - Marketing and New
                                                     Product development, Director

Richard J. Thompson                  49           Vice President - Finance, Chief Financial Officer
                                                     And Secretary
</TABLE>

Robert J. Aebli has served as President of the Company's  Communication Products
division  since  November  1993.  From  1991 to 1993 Mr.  Aebli  served  as Vice
President  -  Operations  of  Contraves,  Inc.,  a  manufacturer  of testing and
simulation systems.

Louis R.  DeBartelo  was  appointed  President of the  Company's  North  America
Commercial  division  in 1993.  From  1992 to 1994 he  served  as the  Company's
President - Power Conversion National Accounts Division.

Harvey Dewan was appointed  President of North America and Asia Manufacturing in
December  1997.  From February to December 1997, Mr. Dewan was Vice President of
Operations for the Company's Communication Products division. From 1969 to April
1996, Mr. Dewan held various positions with General Instrument Corporation, most
recently as Vice President of Quality and General Manager.

Eoin Gilley  joined  Artesyn on February  2, 1998 as General  Manager,  European
Operations  and was  appointed to the position of Managing  Director - Europe in
August   1998.   From  1995  to  early   1998,   Mr.   Gilley   served  as  Vice
President/General  Manager Europe with Quarterdeck  International Ltd. From 1981
to 1994, Mr. Gilley held various positions with Apple Computer, most recently as
Director of Operations in Supply Chain Re-Engineering.

Thomas J. Kent was  appointed  President of the  Solutions  division in December
1997.  Mr.  Kent had been  General  Manager of Zytec's  Services  and  Logistics
operations  since 1994 and was named Vice President of Services and Logistics as
well as a director of Zytec in 1996. From 1990 to 1994, Mr. Kent was employed by
US Windpower, most recently as its Director of Customer and Site Support.

Hartmut Liebel was appointed to the position of Corporate  Treasurer in February
1998. Prior to joining the Company, Mr. Liebel had been employed by W.R. Grace &
Co., a global specialty chemical supplier,  as Assistant  Treasurer from 1995 to
1997 and as Director of Financial Risk Management during 1993 and 1994.

Joseph J. Matz was  appointed  to the  position  of  Managing  Director - Europe
Commercial in December  1997. Mr. Matz joined Zytec in November 1991 as Managing
Director of its Austrian division.

Joseph M.  O'Donnell  was  appointed  as Chairman of the Board of  Directors  in
February 1997 and as  Co-Chairman  of the Board  following the merger with Zytec
Corporation  ("Zytec") in December 1997.  Mr.  O'Donnell has served as President
and Chief Executive Officer of the Company since July 1994. Mr. O'Donnell served
as Managing Director of O'Donnell Associates, a consulting firm, from March 1994
to June 1994; and as Chief  Executive  Officer of Savin  Corporation,  an office
products  distributor,  from October 1993 to February  1994. He is a Director of
Boca  Research,  Inc., a  manufacturer  of data  communications,  multimedia and
networking products.

John M. Steel was  appointed to the position of Vice  President - Marketing  and
New  Product  Development  in  December  1997 and was  elected  to the  Board of
Directors  at that time.  Mr.  Steel was a  co-founder  of Zytec and had been an
officer and a director of Zytec since 1984.

Richard J.  Thompson  has served as Vice  President - Finance,  Chief  Financial
Officer, and Secretary of the Company since June 1990.

ITEM 5.     MARKET FOR  REGISTRANT'S  COMMON  EQUITY AND RELATED  STOCKHOLDER
            MATTERS

The common stock of Artesyn Technologies,  Inc. is traded on The Nasdaq National
Stock  Marketsm  under the symbol ATSN.  High and low sales prices of such stock
and  information  pertaining  to the number of record  holders of the  Company's
Common Stock  appears on page 45 of the Annual  Report for the fiscal year ended
January 1, 1999 and is incorporated herein by reference.

The  Registrant  has not paid cash  dividends  in the past and no change in such
policy is anticipated.  Future cash dividends, if any, will be determined by the
Board of Directors in light of the  circumstances  then existing,  including the
Company's earnings and financial  requirements and general business  conditions.
However,  on July 22, 1998, the Company's Board of Directors  authorized a share
repurchase  program to purchase up to 4.0 million shares of the Company's common
stock in the open market or in privately-negotiated  transactions,  depending on
market  conditions  and other  factors.  As of  January  1,  1999,  the  Company
repurchased  and  retired  1,211,500  shares of its common  stock for a total of
approximately  $19.4 million in cash.  Currently,  the Company  maintains a $200
million revolving credit facility,  which contains certain restrictive covenants
that,  among other  things,  require the Company to maintain  certain  financial
ratios and may limit the  purchase,  transfer or  distribution  of the Company's
assets.

ITEM 6.     SELECTED FINANCIAL DATA

The Consolidated  Five-Year Financial History appearing on page 13 of the Annual
Report for the  fiscal  year ended  January  1, 1999 is  incorporated  herein by
reference.

ITEM 7.     MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL  CONDITION AND
            RESULTS OF OPERATIONS

Management's  Discussion  and  Analysis of  Financial  Condition  and Results of
Operations  included in the Annual  Report for the fiscal year ended  January 1,
1999 is incorporated herein by reference.

ITEM 7A.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Quantitative  and  Qualitative  Disclosures  About  Market Risk  included in the
Annual Report for the fiscal year ended January 1, 1999 is  incorporated  herein
by reference.

ITEM 8.     FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The  consolidated  financial  statements  of the  Company  (including  Note  19,
Selected  Consolidated  Quarterly Data- Unaudited) and the independent certified
public accountants' report thereon contained in the Annual Report for the fiscal
year ended January 1, 1999 are incorporated herein by reference.

ITEM 9.     CHANGES IN AND  DISAGREEMENTS  WITH ACCOUNTANTS ON ACCOUNTING AND
            FINANCIAL DISCLOSURE

None.

                                   PART III

ITEMS 10, 11, 12 AND 13.

The  information  called  for by that  portion  of Item 10 which  relates to the
Directors of the Company, by Item 11 (Executive Compensation), Item 12 (Security
Ownership  of Certain  Beneficial  Owners and  Management)  and Item 13 (Certain
Relationships and Related  Transactions) is incorporated  herein by reference to
the  Company's  definitive  proxy  statement  for the  1999  Annual  Meeting  of
Shareholders  to be filed with the Securities and Exchange  Commission not later
than 120 days after the close of the fiscal  year  ended  January 1, 1999.  That
portion of Item 10 which relates to Executive Officers of the Company appears as
Item 4A of Part I of this Report.

                                   PART IV

ITEM 14.    EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8K

(A)  FINANCIAL STATEMENTS, FINANCIAL STATEMENT SCHEDULES AND EXHIBITS

   (1)      FINANCIAL STATEMENTS

The following  consolidated  financial statements of Artesyn Technologies,  Inc.
and  subsidiaries  included in the  Company's  Annual Report for the fiscal year
ended January 1, 1999 are incorporated herein by reference in Item 8 hereof:

      Consolidated Statements of Operations -- Years Ended on the Friday nearest
      December 31, 1998, 1997, and 1996

      Consolidated  Statements  of  Financial  Condition  -- as of the  Friday
      nearest December 31, 1998 and 1997

      Consolidated Statements of Cash Flows -- Years Ended on the Friday nearest
      December 31, 1998, 1997 and 1996

      Consolidated   Statements  of  Shareholders'   Equity  and   Comprehensive
      Income-Years Ended on the Friday nearest December 31, 1998, 1997 and 1996

      Notes to Consolidated Financial Statements

      Report of Independent Certified Public Accountants

   (2)       FINANCIAL STATEMENT SCHEDULE

The following  information is filed as part of this Form 10-K and should be read
in conjunction with the financial  statements  contained in the Company's Annual
Report for the fiscal year ended January 1, 1999.

   Report of Independent Certified Public Accountants On Schedule

   Report of Independent Accountants

   Schedule for Artesyn Technologies, Inc. and Subsidiaries:

      Schedule II - Valuation and Qualifying Accounts

Schedules other than that listed above have been omitted because they are either
not required or not  applicable,  or because the required  information  has been
included in the consolidated  financial statements or notes thereto incorporated
herein by reference.

   (3)       EXHIBITS

EXHIBIT #     DESCRIPTION
---------     -----------

2.1  Agreement  and Plan of Merger by and between  Zytec  Corporation,  Computer
     Products  Inc.  and CPI  Acquisition  Corp.  dated as of  September 2, 1997
     incorporated  by  reference  to Exhibit  2.1 of  Registrant's  Registration
     Statement on Form S-4 filed on September 25, 1997.


2.2  Agreement on the Sale, Purchase and Transfer of Shares dated as of July 22,
     1997 - incorporated by reference to Exhibit 2 of Registrant's  Registration
     Statement on Form 8-K filed on August 6, 1997.

2.3  Agreement and Plan of Merger,  dated August 23, 1996, by and among Computer
     Products,  Inc., JPS Acquisition  Corp, Jeta Power Systems Inc. and Jagdish
     C. Chopra -  incorporated  by  reference to Exhibit  10.50 of  Registrant's
     Quarterly Report on Form 10-Q for the quarterly period ended September 27,
     1996.

2.4  Asset Purchase Agreement among RT Acquisition  Florida Corp., RTP Corp. and
     Computer Products Inc. dated as of July 5, 1997 - incorporated by reference
     to  Exhibit  10.33 of  Registrant's  Quarterly  Report on Form 10-Q for the
     quarterly period ended July 4, 1997.

3.1   Articles of  Incorporation  of the  Company,  as amended,  on May 15, 1989
      incorporated by reference to Exhibit 3.1 of Registrant's  Annual Report on
      Form 10-K for the fiscal year ended December 28, 1989.

3.2   By-laws  of  the  Company,   as  amended,   effective   October  16,  1990
      incorporated  by  reference  to Exhibit 3.2 of  Registrant's  Registration
      Statement on Form S-4, filed with the Commission on September 25, 1997, as
      amended.

3.3   Articles  of  amendment  to  articles  of  incorporation  of  the  Company
      incorporated by reference to Exhibit 3.1 of Registrant's Current Report on
      Form 8-K filed on May 6, 1998.

3.4   Articles of amendment  to articles of  Incorporation  of the  Company,  as
      amended on December 22, 1998.

4.1   Amended and  Restated  Rights  Agreement,  dated as of November  21, 1998,
      between the Company  and The Bank of New York as Rights  Agent,  including
      the form of Right  Certificate  and the  Summary  of  Rights  to  Purchase
      Preferred  Shares  attached  thereto  as  exhibits  B and C,  respectively
      incorporated by reference to Exhibit 4.1 of Registrant's Current Report on
      Form 8-K filed with the Commission on December 22, 1998.

10.1  Grant Agreement,  dated June 19, 1981, as  supplemented,  by and among the
      Industrial  Development  Authority  of Ireland,  Power  Products  Ltd. and
      Computer  Products,  Inc. -  incorporated  by reference to Exhibit 10.2 of
      Registrant's Annual Report on Form 10-K for the fiscal year ended
      December 31, 1982.

10.2  Indenture between  Industrial  Development  Authority of Ireland and Power
      Products Ltd. - incorporated  by reference to Exhibit 10.3 of Registrant's
      Annual Report on Form 10-K for the fiscal year ended December 31, 1982.

10.3  Lease for  facilities  of  Boschert,  Incorporated  located  in  Milpitas,
      California -  incorporated  by reference to Exhibit 10.14 of  Registrant's
      Annual Report on Form 10-K for the fiscal year ended January 3, 1986.

10.4  Letter Amendment to Lease for facilities of Boschert,  Incorporated, dated
      January  9,  1991  located  in  Milpitas,  California  -  incorporated  by
      reference to Exhibit 10.8 of  Registrant's  Annual Report on Form 10-K for
      the fiscal year ended December 28, 1990.

10.5  Sublease for  facilities  of Boschert,  Incorporated  located in Milpitas,
      California -  incorporated  by  reference to Exhibit 10.8 of  Registrant's
      Annual Report on Form 10-K for the fiscal year ended January 1, 1988.

10.6  Sublessee  Estoppel  Certificate  to Sublease for  facilities of Boschert,
      Incorporated,  dated  February 4, 1991,  located in  Milpitas,  California
      incorporated by reference to Exhibit 10.10 of  Registrant's  Annual Report
      on Form 10-K for the fiscal year ended December 28, 1990.

10.7  1981 Stock  Option  Plan,  as  amended,  effective  as of October 16, 1990
      incorporated by reference to Exhibit 10.10 of Registrant's  Current Report
      on Form 8-K, filed with the Commission on November 30, 1990.

10.8  Computer Products, Inc. 1986 Outside Directors' Stock Option Plan, amended
      as of February 22, 1988 -  incorporated  by reference to Exhibit  10.12 of
      Registrant's  Annual Report on Form 10-K for the fiscal year ended January
      1, 1988.

10.9  Asset  Purchase  Agreement,  dated as of  January  1,  1992,  by and among
      Computer  Products,  Inc.,  HC  Holding  Corp.  and  Heurikon  Corporation
      including  exhibits and schedules  thereto - incorporated  by reference to
      Exhibit 2 of Registrant's Current Report on Form 8-K, filed with the
      Commission on January 20, 1992.

10.10 Contract to Purchase between Computer Products,  Inc. and Sauk Enterprises
      dated December 23, 1991 for the premises  located at 8310 Excelsior Drive,
      Madison,  Wisconsin -  incorporated  by reference to  Registrant's  Annual
      Report on Form 10-K for the fiscal year ended January 3, 1992.

10.11 Lease for  facilities  of the  executive  offices  located in Boca  Raton,
      Florida -  incorporated  by  reference  to Exhibit  10.23 of  Registrant's
      Annual Report on Form 10-K for the fiscal year ended December 30, 1988.

10.12 Outside   Directors'   Retirement   Plan,   effective   October  17,  1989
      incorporated by reference to Exhibit 10.22 of  Registrant's  Annual Report
      on Form 10-K for the fiscal year ended December 29, 1989.

10.13 1990 Performance  Equity Plan - incorporated by reference to Exhibit 10.26
      of  Registrant's  Annual  Report on Form 10-K for the  fiscal  year  ended
      December 28, 1990.

10.14 1990 Outside  Directors'  Stock Option Plan - incorporated by reference to
      Exhibit  10.27 of  Registrant's  Annual Report on Form 10-K for the fiscal
      year ended December 28, 1990.

10.15 Manufacturing  and  Development  Agreement  dated March 16, 1992,  between
      Computer  Products,  Inc.  and  Analogic  Corporation  -  incorporated  by
      reference to Exhibit 10.30 of Registrant's  Annual Report on Form 10-K for
      the fiscal year ended January 3, 1992.

10.16 License Agreement dated March 16, 1992,  between Computer  Products,  Inc.
      and Analogic  Corporation - incorporated  by reference to Exhibit 10.31 of
      Registrant's  Annual Report on Form 10-K for the fiscal year ended January
      3, 1992.

10.17 Asset  Purchase  Agreement  between  Computer  Products,  Inc.,  Tecnetics
      Incorporated,  Miller Acquisition  Corporation and certain former managers
      of Tecnetics  Incorporated - incorporated by reference to Exhibit 10.29 of
      Registrant's  Quarterly Report on Form 10-Q for the quarterly period ended
      April 3, 1992.

10.18 Manufacturing  License and Technical Assistance Agreement between Heurikon
      Corporation and Lockheed Sanders, Inc. dated January 31, 1992 incorporated
      by reference to Exhibit  10.34 of  Registrant's  Quarterly  Report on Form
      10-Q for the quarterly period ended July 3, 1992.

10.19 Star  MVP  Domestic  Terms  and   Conditions  of  Sale  Between   Heurikon
      Corporation and Lockhead  Sanders,  Inc. dated March 18, 1992 incorporated
      by reference to Exhibit  10.35 of  Registrant's  Quarterly  Report on Form
      10-Q for the quarterly period ended July 3, 1992.

10.20 DSP32C  VME Board  License  Agreement  between  Heurikon  Corporation  and
      American   Telephone  and   Telegraph   Company  dated  October  28,  1991
      incorporated  by  reference  to Exhibit  10.36 of  Registrant's  Quarterly
      Report on Form 10-Q for the quarterly period ended July 3, 1992.

10.21 Software  License  agreement  between  Heurikon  Corporation  and American
      Telephone and Telegraph  Company dated October 28, 1991 - incorporated  by
      reference to Exhibit 10.37 of Registrant's  Quarterly  Report on Form 10-Q
      for the quarterly period ended July 3, 1992.

10.22 Employment  Agreement,  dated  June  29,  1994,  by and  between  Computer
      Products,  Inc.  and Joseph M.  O'Donnell -  incorporated  by reference to
      Exhibit  10.41  of  Registrant's  Quarterly  Report  on Form  10-Q for the
      quarterly period ended July 1, 1994.

10.23 Grant Agreement, dated October 26, 1994, by and among the Industrial
      Development  Authority  of  Ireland,  Power  Products  Ltd.  and  Computer
      Products,   Inc.  -   incorporated   by  reference  to  Exhibit  10.43  of
      Registrant's Annual Report on Form 10-K for the fiscal year ended December
      30, 1994.

10.24 1996 Employee  Stock  Purchase Plan -  incorporated  by reference to
      Exhibit  10.45 of  Registrant's  Annual Report on Form 10-K for the fiscal
      year ended December 29, 1995.
      
10.25 1990  Performance  Equity Plan as amended -  incorporated  by reference to
      Exhibit  10.46 of  Registrant's  Annual Report on Form 10-K for the fiscal
      year ended December 29, 1995.

10.26 1990 Outside Directors Stock Option Plan,  restated as of January 25, 1996
      incorporated by reference to Exhibit 10.47 of  Registrant's  Annual Report
      on Form 10-K for the fiscal year ended December 29, 1995.

10.27 1996 Executive Incentive Plan - incorporated by reference to Exhibit 10.48
      of  Registrant's  Annual  Report on Form 10-K for the  fiscal  year  ended
      December 29, 1995.

10.28 Executive  Stock  Ownership  plan -  incorporated  by reference to Exhibit
      10.49 of Registrant's Annual Report on Form 10-K for the fiscal year ended
      December 29, 1995.

10.29 Agreement by and between Oates  Business Park and the Company dated May 1,
      1995 regarding the leasing of certain  premises and real property  located
      in Lincoln,  California -  Incorporated  by reference to Exhibit  10.26 to
      Form 10-K of Zytec  Corporation for the year ended December 31, 1995 (File
      No. 0-22428).

10.30 Agreement  and  Addendum  by and  between  Buzz Oates  Enterprise  and the
      Company  dated  September 15, 1995,  as amended  December 8, 1995,  and as
      second  amended March 8, 1996,  and as third amended May 14, 1996,  and as
      fourth amended November 8, 1996, regarding the leasing of certain premises
      and real  property  located  in  Lincoln,  California  -  Incorporated  by
      reference to Exhibit 10.19 to Form 10-K of Zytec  Corporation for the year
      ended December 31, 1996.

10.31 Agreement  by and between  Superior  Investments  I, Inc.  and the Company
      dated January 22, 1996 regarding the leasing of certain  premises and real
      property  located in Broomfield,  Colorado - Incorporated  by reference to
      Exhibit  10.27  to Form  10-K of  Zytec  Corporation  for the  year  ended
      December 31, 1995. (File No. 0-22428).

10.32 RentalAgreement by and between Schrack Elektronik  Aktiengesellschaft  and
      IMMORENT-Weiko  Grundverwertungsge- sellschaft m.b.H. dated March 14, 1985
      (English  translation)  regarding  the  leasing of certain  real  property
      located in Kindberg,  Austria - Incorporated by reference to Exhibit 10.70
      to  Zytec  Corporation's  Registration  Statement  on Form S-1  (File  No.
      33-68822).

10.33 Real   Estate   Lease   Agreement   by  and   between   IMMORENT  -  Weiko
      Grundverwertungsge-sellschaft     m.b.H.     and    Schrack     Elektronik
      Aktiengesellschaft dated December 16, 1984 (English translation) regarding
      the  leasing  of  certain  real  property  located  in  Kindberg,  Austria
      Incorporated  by  reference  to  Exhibit  10.71  to  Zytec   Corporation's
      Registration Statement on Form S-1 (File No. 33-68822).

10.34 Lease  (Rental)  Agreement by and between  Schrack  Telecom AG and Schrack
      Power  Supply   Gesellschaft  m.b.H.  dated  February  19,  1991  (English
      translation)   regarding  the  leasing  of  certain  property  located  in
      Kindberg,  Austria  Incorporated  by reference  to Exhibit  10.72 to Zytec
      Corporation's Registration Statement on Form S-1 (File No. 33-68822).

10.35 Sublease  (Subrental)  Agreement  by  and  between  Schrack  Power  Supply
      Gesellschaft  m.b.H. and Schrack Power Supply  Gesellschaft  m.b.H.  dated
      February 14, 1991 (English  translation)  regarding the leasing of certain
      property  located in  Kindberg,  Austria -  Incorporated  by  reference to
      Exhibit 10.73 to Zytec  Corporation's  Registration  Statement on Form S-1
      (File No. 33-68822).

10.36 Sublease  (Subrental)  Agreement  by  and  between  Schrack  Power  Supply
      Gesellschaft  m.b.H.  and  Schrack  Telecom  AG dated  February  14,  1991
      (English translation) regarding the leasing of certain property located in
      Kindberg,  Austria -  Incorporated  by reference to Exhibit 10.74 to Zytec
      Corporation's Registration Statement on Form S-1 (File No. 33-68822).

10.37 Third Addendum to Lease Agreement  between Zytec  Corporation and Superior
      Investments  I, Inc.  dated May 23, 1997 -  Incorporated  by  reference to
      Exhibit 10.2 to Form 10-Q of Zytec Corporation for the quarter ended June
      29, 1997.

10.38 Fourth Addendum to Lease Agreement  between Zytec Corporation and Superior
      Investments  I, Inc.  dated June 27,  1997-  Incorporated  by reference to
      Exhibit 10.3 to Form 10-Q of Zytec  Corporation for the quarter ended June
      29, 1997.

10.39 Loan  agreement  between  Herbert  Elektronische  Gerate GmbH & Co. KG and
      First  Union  National  Bank,  London  Branch  dated as of July  15,  1997
      Incorporated by reference to Exhibit 10.43 of  Registrant's  Annual Report
      on Form 10-K for the fiscal year ended January 2, 1998.
      
10.40 Loan agreement  between Computer  Products,  Inc. and First Union National
      Bank,  London Branch dated as of July 15, 1997 - Incorporated by reference
      to Exhibit 10.44 of Registrant's Annual Report on Form 10-K for the fiscal
      year ended January 2, 1998.

10.41 Amended and restated loan agreement between Computer Products, Inc., First
      Union National Bank and First Union National Bank,  London Branch dated as
      of  July  15,  1997 -  Incorporated  by  reference  to  Exhibit  10.45  of
      Registrant's  Annual Report on Form 10-K for the fiscal year ended January
      2, 1998.

10.42 Credit Agreement   among  Artesyn  Technologies,   Inc.,  certain  of  its
      subsidiaries, ABN AMRO Bank N.V., as Administrative Agent and Co-Arranger,
      First  Union  National  Bank,  as  Syndication   Agent  and   Co-Arranger,
      NationsBank,   N.A.,  as  Co-Agent,  dated  as  of  December  31,  1998  -
      Incorporated by reference to Exhibit 1 of the Registrant's  Current Report
      on Form 8-K, filed with the Commission on December 31, 1998.

10.43 Outside Directors'  Retirement Plan effective October 17, 1989, as amended
      January 25, 1994, August 15, 1996 and January 29, 1998.

13    Annual  Report of Artesyn  Technologies,  Inc.  for the fiscal  year ended
      January 1, 1999.

21    List of subsidiaries of the Registrant.

23.1  Consent of Arthur Andersen LLP.

23.2  Consent of PricewaterhouseCoopers LLP.

27    Financial data schedule.


(b)   REPORTS ON FORM 8-K

During the  thirteen-week  period ended  January 1, 1999,  the Company filed the
following reports on Form 8-K:

On December 22, 1998,  the Company filed a Current  Report on Form 8-K (pursuant
to Item 5 thereof)  describing  the extension  and amendment of its  shareholder
rights plan.

On December 31, 1998,  the Company filed a Current  Report on Form 8-K (pursuant
to Item 5 thereof)  announcing  that the Company  received  funding  under a new
three-year,  multi-currency $200 million credit facility arranged and syndicated
by ABN AMRO Bank and First Union National Bank.

<PAGE>

        REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS ON SCHEDULE

To the Board of Directors and Shareholders of
  Artesyn Technologies, Inc.:

We have audited in accordance with generally  accepted auditing  standards,  the
consolidated  financial  statements  included  in Artesyn  Technologies,  Inc.'s
Annual Report to  Shareholders  incorporated by reference in this Form 10-K, and
have issued our report  thereon dated January 22, 1999. Our audits were made for
the purpose of forming an opinion on those  statements  taken as a whole. We did
not audit the  statement  of  financial  condition as of January 3, 1997 and the
related  statement of  operations,  shareholders'  equity and cash flows for the
fiscal year ended January 3, 1997 of Zytec  Corporation,  a company  acquired on
December 29, 1997 in a transaction accounted for under the  pooling-of-interests
method of accounting. Such statements are included in the consolidated financial
statements  of Artesyn  Technologies,  Inc. and were  audited by other  auditors
whose report has been furnished to us, and our opinion, insofar as it relates to
amounts included for Zytec  Corporation,  is based solely upon the report of the
other auditors.  The schedule listed in Item 14(a)(2) is the  responsibility  of
the Company's  management  and is presented  for purposes of complying  with the
Securities  and  Exchange  Commission's  rules  and is  not  part  of the  basic
consolidated  financial  statements.  This  schedule  has been  subjected to the
auditing  procedures applied in the audits of the basic  consolidated  financial
statements  and,  in our  opinion,  based on our  audits and the report of other
auditors,  fairly states in all material respects the financial data required to
be set forth therein in relation to the basic consolidated  financial statements
taken as a whole.

ARTHUR ANDERSEN LLP

Fort Lauderdale, Florida,
  January 22, 1999.

<PAGE>
                       REPORT OF INDEPENDENT ACCOUNTANTS

The Shareholders and Board of Directors of
    Artesyn Technologies, Inc.:

We have  audited  the  consolidated  balance  sheet of Zytec  Corporation  as of
December 31, 1996, and the related consolidated  statements of operations,  cash
flows and  stockholders'  equity for the year ended December 31, 1996 (not shown
separately in Artesyn Technologies, Inc. Annual Report on Form 10-K for the year
ended  January  1,  1999).  In  connection  with  our  audit  of such  financial
statements,  we have also audited the related financial  statement  schedule II,
valuation  and  qualifying  accounts  for the year ended  December 31, 1996 (not
shown  separately in Artesyn  Technologies,  Inc. Annual Report on Form 10-K for
the year ended,  January 1, 1999).  These  financial  statements  and  financial
statement  schedule are the  responsibility  of the  Company's  management.  Our
responsibility  is to  express  an opinion  on these  financial  statements  and
financial statement schedule based on our audit.

We conducted our audit in accordance with generally accepted auditing standards.
Those standards  require that we plan and perform the audit to obtain reasonable
assurance   about  whether  the  financial   statements  are  free  of  material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects,  the consolidated financial position of Zytec Corporation
as of December 31, 1996, and the consolidated  results of its operations and its
cash flows for the year ended  December 31, 1996, in conformity  with  generally
accepted  accounting  principles.  In addition,  in our opinion,  the  financial
statement  schedule  referred to above, when considered in relation to the basic
financial  statements  taken  as a  whole,  presents  fairly,  in  all  material
respects, the information required to be included therein.

PRICEWATERHOUSECOOPERS LLP

Minneapolis, Minnesota
February 18, 1997

<PAGE>

ARTESYN TECHNOLOGIES, INC. AND SUBSIDIARIES
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
For the Years Ended on the Friday Nearest December 31 ($000s)
<TABLE>
<CAPTION>

---------------------------------------------------------- ----------- ------------------------ ----------------------- -----------
                        COLUMN A                            COLUMN B          COLUMN C                 COLUMN D          COLUMN E
---------------------------------------------------------- ----------- ------------------------ ----------------------- -----------
                                                                       -----------------------
                                                                              Additions                                         
                                                           ----------- ------------ ----------   ----------------------  ----------
                                                            Balance at  Charged to  Charged to         Deductions        Balance at
                                                            Beginning    Costs &      Other      ----------- ----------   End of
                       Description                          of Period    Expenses    Accounts    Description   Amount     Period
---------------------------------------------------------- ----------- ----------- ------------  ----------- ----------- -----------
Fiscal Year 1998:
  Reserve deducted from asset to which it applies:
<S>                                                           <C>         <C>            <C>       <C>        <C>         <C>   
    Allowance for doubtful accounts                           $1,736      $  138         $ -                   $    -      $1,875
    Restructuring reserve                                          -       5,958           -       (1)          3,163       2,795

Fiscal Year 1997:
  Reserve deducted from asset to which it applies:
    Allowance for doubtful accounts                           $1,312      $  426         $ -       (2)         $    2      $1,736
                                                                                                                 

Fiscal Year 1996:
  Reserve deducted from asset to which it applies:
    Allowance for doubtful accounts                           $1,223      $   89         $  -                  $   -      $ 1,312
    Other                                                        292           -            -      (2)           292            -

</TABLE>
  

(1)  This amount relates to payments.
(2)  This amount relates to recoveries.

<PAGE>

                                   SIGNATURES

Pursuant to the  requirements  of Section 13 of the  Securities  Exchange Act of
1934,  the  Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.

                                           ARTESYN TECHNOLOGIES, INC.
                                           --------------------------
                                                 (Registrant)

Dated:  March 26, 1999                  By:  JOSEPH M. O'DONNELL
                                             -------------------
                                             Joseph M. O'Donnell
                                             Co-Chairman of the Board, President
                                              and Chief Executive Officer



Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been  signed by the  following  persons on behalf of the  Registrant  in the
capacities and on the dates indicated.

SIGNATURE                     TITLE                               DATE

JOSEPH M. O'DONNELL           Co-Chairman of the Board,           03/26/99
-------------------            President and Chief Executive
JOSEPH M. O'DONNELL            Officer, Director
          
RONALD D. SCHMIDT             Co-Chairman of the Board            03/26/99
-----------------             
RONALD D. SCHMIDT

RICHARD J. THOMPSON           Vice President-Finance,             03/26/99
-------------------           Chief Financial Officer,
RICHARD J. THOMPSON           and Secretary
                              

EDWARD S. CROFT, III          Director                            03/26/99
--------------------
EDWARD S. CROFT, III

DR. FRED C. LEE               Director                            03/26/99
---------------              
DR. FRED C. LEE

LAWRENCE J. MATTHEWS          Director                            03/26/99
--------------------       
LAWRENCE J. MATTHEWS

STEPHEN A. OLLENDORFF         Director                            03/26/99
---------------------         
STEPHEN A. OLLENDORFF

PHILLIP A. O'REILLY           Director                            03/26/99
PHILLIP A. O'REILLY

BERT SAGER                    Director                            03/26/99
----------                    
BERT SAGER

A. EUGENE SAPP, JR.           Director                            03/26/99
-------------------           
A. EUGENE SAPP, JR.

LEWIS SOLOMON                 Director                            03/26/99
-------------                 
LEWIS SOLOMON

JOHN M. STEEL                 Director                            03/26/99
-------------                 
JOHN M. STEEL


 
<PAGE>

                                INDEX TO EXHIBITS

EXHIBIT

NO.            DESCRIPTION

3.4            Articles of Amendement to the Articles of Incorporation

10.43          Outside Directors' Retirement Plan effective October 17, 1989, as
               amended January 25, 1994, August 15, 1996 and January 29, 1998.

13             Annual Report of Artesyn Technologies, Inc. for
               the fiscal year ended January 1, 1999

21             List of subsidiaries of the Registrant

23.1           Consent of Arthur Andersen LLP

23.2           Consent of PricewaterhouseCoopers LLP

27             Financial Data Schedule