POWI Power Integrations Inc.

Power Integrations Reports Fourth-Quarter and Full-Year Financial Results

SAN JOSE, Calif.--(BUSINESS WIRE)--

Power Integrations (Nasdaq: ) today announced financial results for the quarter and year ended December 31, 2019. The results include the previously announced settlement of the company’s patent disputes with ON Semiconductor, which resulted in a payment to the company of $175 million in October 2019.

Net revenues for the fourth quarter were $114.5 million, flat compared to the prior quarter and up 23 percent from the fourth quarter of 2018. Net income for the fourth quarter was $158.3 million or $5.28 per diluted share compared to $0.57 per share in the prior quarter and $0.77 in the fourth quarter of 2018. Cash flow from operations was $182.2 million for the fourth quarter.

In addition to its GAAP results, the company provided certain non-GAAP measures that exclude stock-based compensation, amortization of acquisition-related intangible assets, the tax effects of these items, and a 2018 tax benefit stemming from U.S. tax-reform legislation. Non-GAAP net income for the fourth quarter of 2019 was $167.9 million or $5.60 per diluted share (including a benefit of $4.78 per share from the litigation settlement), compared with $0.78 per diluted share in the prior quarter and $0.54 per diluted share in the fourth quarter of 2018. A reconciliation of GAAP to non-GAAP financial results appears at the end of this press release.

For the full year, net revenues were $420.7 million, an increase of one percent compared to 2018. Net income for the year was $193.5 million or $6.49 per diluted share compared to $2.32 per diluted share in 2018. Non-GAAP net income for the full year was $219.9 million or $7.38 per diluted share (including a benefit of $4.81 per share from the settlement) compared to $2.71 per diluted share in 2018. Cash flow from operations for the full year 2019 was $224.5 million.

Power Integrations paid a dividend of $0.19 per share on December 31, 2019. The next dividend of $0.19 will be paid on March 31, 2020 to stockholders of record as of February 28, 2020.

Commented Balu Balakrishnan, president and CEO of Power Integrations: “Revenues grew 23 percent year-over-year in the fourth quarter driven by our continued success in rapid-charging for mobile devices and a return to growth in consumer appliances. While sales for the analog semiconductor industry fell in 2019, we delivered positive growth for the year, and we’re entering 2020 with momentum fueled by innovative products such as our InnoSwitch™3 ICs – including our latest devices incorporating GaN technology – and a broad set of opportunities including rapid charging, connected homes, renewable energy and smarter, more efficient appliances.”

Financial Outlook

The company issued the following forecast for the first quarter of 2020:

  • Revenues are expected to be $110 million plus or minus $3 million.
  • GAAP gross margin is expected to be between 50.5 percent and 51 percent. Non-GAAP gross margin is expected to be between 51.5 percent and 52 percent. (The difference between the expected GAAP and non-GAAP gross margins comprises approximately 0.7 percentage points from amortization of acquisition-related intangible assets and 0.3 percentage points from stock-based compensation.)
  • GAAP operating expenses are expected to be approximately $41.5 million; non-GAAP operating expenses are expected to be approximately $35.5 million. (Non-GAAP expenses are expected to exclude approximately $5.8 million of stock-based compensation and $0.2 million of amortization of acquisition-related intangible assets.)

Conference Call Today at 1:30 p.m. Pacific Time

Power Integrations management will hold a conference call today at 1:30 p.m. Pacific time. Members of the investment community can join the call by dialing 1-647-689-4187. The call will also be available on the investor section of the company's website, .

About Power Integrations

is a leading innovator in semiconductor technologies for high-voltage power conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts. For more information please visit .

Note Regarding Use of Non-GAAP Financial Measures

In addition to the company's consolidated financial statements, which are presented according to GAAP, the company provides certain non-GAAP financial information that excludes stock-based compensation expenses recorded under ASC 718-10, amortization of acquisition-related intangible assets, the tax effects of these items and, with respect to the prior-year results, a tax benefit related to the 2017 U.S. tax-reform legislation. The company uses these measures in its financial and operational decision-making and, with respect to one measure, in setting performance targets for compensation purposes. The company believes that these non-GAAP measures offer important analytical tools to help investors understand its operating results, and to facilitate comparability with the results of companies that provide similar measures. Notwithstanding these considerations, the company is including the impact of its litigation settlement in its non-GAAP results in order to be consistent with its historical practice of including litigation-related expenses in its non-GAAP results. Non-GAAP measures have limitations as analytical tools and are not meant to be considered in isolation or as a substitute for GAAP financial information. For example, stock-based compensation is an important component of the company’s compensation mix, and will continue to result in significant expenses in the company’s GAAP results for the foreseeable future, but is not reflected in the non-GAAP measures. Also, other companies, including companies in Power Integrations’ industry, may calculate non-GAAP measures differently, limiting their usefulness as comparative measures. Reconciliations of non-GAAP measures to GAAP measures are attached to this press release.

Note Regarding Forward-Looking Statements

The above statements regarding the company’s forecast for its first-quarter financial performance are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with the company's business, actual results could differ materially from those projected or implied by these statements. These risks and uncertainties include, but are not limited to: changes in global macroeconomic conditions, including changing tariffs and uncertainty regarding trade negotiations, which may impact the level of demand for the company’s products; potential changes and shifts in customer demand away from end products that utilize the company's integrated circuits to end products that do not incorporate the company's products; the effects of competition, which may cause the company’s revenues to decrease or cause the company to decrease its selling prices for its products; unforeseen costs and expenses; and unfavorable fluctuations in component costs or operating expenses resulting from changes in commodity prices and/or exchange rates. In addition, new product introductions and design wins are subject to the risks and uncertainties that typically accompany development and delivery of complex technologies to the marketplace, including product development delays and defects and market acceptance of the new products. These and other risk factors that may cause actual results to differ are more fully explained under the caption “Risk Factors” in the company's most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission (SEC) on February 13, 2019. The company is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by the rules and regulations of the SEC.

Power Integrations, InnoSwitch and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc.

POWER INTEGRATIONS, INC.
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per-share amounts)
 
 
Three Months Ended Twelve Months Ended
December 31, 2019 September 30, 2019 December 31, 2018 December 31, 2019 December 31, 2018
NET REVENUES

$

114,457

 

$

114,159

 

$

93,307

 

$

420,669

 

$

415,955

 

 
COST OF REVENUES

 

56,232

 

 

56,028

 

 

45,302

 

 

207,267

 

 

201,167

 

 
GROSS PROFIT

 

58,225

 

 

58,131

 

 

48,005

 

 

213,402

 

 

214,788

 

 
OPERATING EXPENSES:
Research and development

 

18,298

 

 

17,957

 

 

17,965

 

 

73,470

 

 

70,580

 

Sales and marketing

 

14,241

 

 

13,074

 

 

12,746

 

 

52,720

 

 

51,165

 

General and administrative

 

10,634

 

 

9,224

 

 

8,796

 

 

37,582

 

 

35,496

 

Amortization of acquisition-related intangible assets

 

378

 

 

378

 

 

455

 

 

1,577

 

 

1,899

 

Litigation settlement

 

(168,969

)

 

-

 

 

-

 

 

(168,969

)

 

-

 

Total operating expenses

 

(125,418

)

 

40,633

 

 

39,962

 

 

(3,620

)

 

159,140

 

 
INCOME FROM OPERATIONS

 

183,643

 

 

17,498

 

 

8,043

 

 

217,022

 

 

55,648

 

 
OTHER INCOME

 

1,852

 

 

1,078

 

 

1,297

 

 

5,392

 

 

4,116

 

 
INCOME BEFORE INCOME TAXES

 

185,495

 

 

18,576

 

 

9,340

 

 

222,414

 

 

59,764

 

 
PROVISION (BENEFIT) FOR INCOME TAXES

 

27,204

 

 

1,477

 

 

(13,396

)

 

28,946

 

 

(10,220

)

 
NET INCOME

$

158,291

 

$

17,099

 

$

22,736

 

$

193,468

 

$

69,984

 

 
EARNINGS PER SHARE:
Basic

$

5.38

 

$

0.58

 

$

0.78

 

$

6.61

 

$

2.38

 

Diluted

$

5.28

 

$

0.57

 

$

0.77

 

$

6.49

 

$

2.32

 

 
SHARES USED IN PER-SHARE CALCULATION:
Basic

 

29,427

 

 

29,385

 

 

29,164

 

 

29,267

 

 

29,456

 

Diluted

 

30,005

 

 

29,866

 

 

29,651

 

 

29,816

 

 

30,147

 

 
 
 
SUPPLEMENTAL INFORMATION: Three Months Ended Twelve Months Ended
December 31, 2019 September 30, 2019 December 31, 2018 December 31, 2019 December 31, 2018
Stock-based compensation expenses included in:
Cost of revenues

$

413

 

$

280

 

$

313

 

$

1,237

 

$

1,097

 

Research and development

 

2,754

 

 

1,893

 

 

1,944

 

 

8,423

 

 

7,688

 

Sales and marketing

 

1,602

 

 

1,211

 

 

1,222

 

 

5,015

 

 

4,729

 

General and administrative

 

3,569

 

 

1,722

 

 

1,963

 

 

8,672

 

 

8,066

 

Total stock-based compensation expense

$

8,338

 

$

5,106

 

$

5,442

 

$

23,347

 

$

21,580

 

 
Cost of revenues includes:
Amortization of acquisition-related intangible assets

$

955

 

$

940

 

$

813

 

$

3,483

 

$

3,253

 

 
General & administrative expenses include:
Patent-litigation expenses

$

2,253

 

$

2,573

 

$

2,304

 

$

9,425

 

$

8,525

 

 
 
Three Months Ended Twelve Months Ended
REVENUE MIX BY END MARKET December 31, 2019 September 30, 2019 December 31, 2018 December 31, 2019 December 31, 2018
Communications

 

29

%

 

29

%

 

20

%

 

26

%

 

20

%

Computer

 

6

%

 

5

%

 

6

%

 

5

%

 

5

%

Consumer

 

35

%

 

32

%

 

34

%

 

35

%

 

38

%

Industrial

 

30

%

 

34

%

 

40

%

 

34

%

 

37

%

 

POWER INTEGRATIONS, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP RESULTS
(in thousands, except per-share amounts)
 
Three Months Ended Twelve Months Ended
December 31, 2019 September 30, 2019 December 31, 2018 December 31, 2019 December 31, 2018
RECONCILIATION OF GROSS PROFIT
GAAP gross profit

$

58,225

 

$

58,131

 

$

48,005

 

$

213,402

 

$

214,788

 

GAAP gross margin

 

50.9

%

 

50.9

%

 

51.4

%

 

50.7

%

 

51.6

%

 
Stock-based compensation included in cost of revenues

 

413

 

 

280

 

 

313

 

 

1,237

 

 

1,097

 

Amortization of acquisition-related intangible assets

 

955

 

 

940

 

 

813

 

 

3,483

 

 

3,253

 

 
Non-GAAP gross profit

$

59,593

 

$

59,351

 

$

49,131

 

$

218,122

 

$

219,138

 

Non-GAAP gross margin

 

52.1

%

 

52.0

%

 

52.7

%

 

51.9

%

 

52.7

%

 
 
Three Months Ended Twelve Months Ended
RECONCILIATION OF OPERATING EXPENSES December 31, 2019 September 30, 2019 December 31, 2018 December 31, 2019 December 31, 2018
GAAP operating expenses

$

(125,418

)

$

40,633

 

$

39,962

 

$

(3,620

)

$

159,140

 

 
Less: Stock-based compensation expense included in operating expenses
Research and development

 

2,754

 

 

1,893

 

 

1,944

 

 

8,423

 

 

7,688

 

Sales and marketing

 

1,602

 

 

1,211

 

 

1,222

 

 

5,015

 

 

4,729

 

General and administrative

 

3,569

 

 

1,722

 

 

1,963

 

 

8,672

 

 

8,066

 

Total

 

7,925

 

 

4,826

 

 

5,129

 

 

22,110

 

 

20,483

 

 
Amortization of acquisition-related intangible assets

 

378

 

 

378

 

 

455

 

 

1,577

 

 

1,899

 

 
Non-GAAP operating expenses

$

(133,721

)

$

35,429

 

$

34,378

 

$

(27,307

)

$

136,758

 

 
 
Three Months Ended Twelve Months Ended
RECONCILIATION OF INCOME FROM OPERATIONS December 31, 2019 September 30, 2019 December 31, 2018 December 31, 2019 December 31, 2018
GAAP income from operations

$

183,643

 

$

17,498

 

$

8,043

 

$

217,022

 

$

55,648

 

GAAP operating margin

 

160.4

%

 

15.3

%

 

8.6

%

 

51.6

%

 

13.4

%

 
Add: Total stock-based compensation

 

8,338

 

 

5,106

 

 

5,442

 

 

23,347

 

 

21,580

 

Amortization of acquisition-related intangible assets

 

1,333

 

 

1,318

 

 

1,268

 

 

5,060

 

 

5,152

 

 
Non-GAAP income from operations

$

193,314

 

$

23,922

 

$

14,753

 

$

245,429

 

$

82,380

 

Non-GAAP operating margin

 

168.9

%

 

21.0

%

 

15.8

%

 

58.3

%

 

19.8

%

 
 
Three Months Ended Twelve Months Ended
RECONCILIATION OF PROVISION (BENEFIT) FOR INCOME TAXES December 31, 2019 September 30, 2019 December 31, 2018 December 31, 2019 December 31, 2018
GAAP provision (benefit) for income taxes

$

27,204

 

$

1,477

 

$

(13,396

)

$

28,946

 

$

(10,220

)

GAAP effective tax rate

 

14.7

%

 

8.0

%

 

-143.4

%

 

13.0

%

 

-17.1

%

 
Impact of U.S. tax legislation

 

-

 

 

-

 

 

(9,687

)

 

-

 

 

(9,687

)

Tax effect of adjustments to GAAP results

 

(53

)

 

(266

)

 

(3,846

)

 

(1,955

)

 

(5,361

)

 
Non-GAAP provision for income taxes

$

27,257

 

$

1,743

 

$

137

 

$

30,901

 

$

4,828

 

Non-GAAP effective tax rate

 

14.0

%

 

7.0

%

 

0.9

%

 

12.3

%

 

5.6

%

 
 
Three Months Ended Twelve Months Ended
RECONCILIATION OF NET INCOME PER SHARE (DILUTED) December 31, 2019 September 30, 2019 December 31, 2018 December 31, 2019 December 31, 2018
GAAP net income

$

158,291

 

$

17,099

 

$

22,736

 

$

193,468

 

$

69,984

 

 
Adjustments to GAAP net income
Stock-based compensation

 

8,338

 

 

5,106

 

 

5,442

 

 

23,347

 

 

21,580

 

Amortization of acquisition-related intangible assets

 

1,333

 

 

1,318

 

 

1,268

 

 

5,060

 

 

5,152

 

Impact of U.S. tax legislation

 

-

 

 

-

 

 

(9,687

)

 

-

 

 

(9,687

)

Tax effect of items excluded from non-GAAP results

 

(53

)

 

(266

)

 

(3,846

)

 

(1,955

)

 

(5,361

)

 
Non-GAAP net income

$

167,909

 

$

23,257

 

$

15,913

 

$

219,920

 

$

81,668

 

 
Average shares outstanding for calculation
of non-GAAP net income per share (diluted)

 

30,005

 

 

29,866

 

 

29,651

 

 

29,816

 

 

30,147

 

 
Non-GAAP net income per share (diluted)

$

5.60

 

$

0.78

 

$

0.54

 

$

7.38

 

$

2.71

 

 
GAAP net income per share

$

5.28

 

$

0.57

 

$

0.77

 

$

6.49

 

$

2.32

 

 
 
 
POWER INTEGRATIONS, INC.
CALCULATION OF EARNINGS PER SHARE BENEFIT OF SETTLEMENT
(in thousands, except per-share amounts)
 
Three Months Ended Twelve Months Ended
December 31, 2019 September 30, 2019 December 31, 2018 December 31, 2019 December 31, 2018
Gain from litigation settlement

$

168,969

 

$

-

 

$

-

 

$

168,969

 

$

-

 

Tax expense attributed to settlement

 

25,543

 

 

-

 

 

-

 

 

25,543

 

 

-

 

Litigation settlement net of tax

$

143,426

 

$

-

 

$

-

 

$

143,426

 

$

-

 

 
Earnings per share benefit of settlement (GAAP and non-GAAP)

$

4.78

 

$

-

 

$

-

 

$

4.81

 

$

-

 

 
Diluted average shares outstanding

 

30,005

 

 

29,866

 

 

29,651

 

 

29,816

 

 

30,147

 

 
POWER INTEGRATIONS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands)
 
 
December 31, 2019 September 30, 2019 December 31, 2018
ASSETS
CURRENT ASSETS:
Cash and cash equivalents

$

178,690

 

$

80,162

 

$

134,137

 

Short-term marketable securities

 

232,398

 

 

164,649

 

 

94,451

 

Accounts receivable, net

 

24,274

 

 

25,819

 

 

11,072

 

Inventories

 

90,380

 

 

88,710

 

 

80,857

 

Prepaid expenses and other current assets

 

15,597

 

 

15,316

 

 

11,915

 

Total current assets

 

541,339

 

 

374,656

 

 

332,432

 

 
PROPERTY AND EQUIPMENT, net

 

116,619

 

 

114,930

 

 

114,117

 

INTANGIBLE ASSETS, net

 

16,865

 

 

18,238

 

 

21,152

 

GOODWILL

 

91,849

 

 

91,849

 

 

91,849

 

DEFERRED TAX ASSETS

 

2,836

 

 

5,564

 

 

6,906

 

OTHER ASSETS

 

34,388

 

 

31,173

 

 

22,241

 

Total assets

$

803,896

 

$

636,410

 

$

588,697

 

 
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable

$

27,433

 

$

30,542

 

$

31,552

 

Accrued payroll and related expenses

 

13,408

 

 

10,796

 

 

12,131

 

Taxes payable

 

584

 

 

597

 

 

933

 

Other accrued liabilities

 

9,051

 

 

7,717

 

 

3,750

 

Total current liabilities

 

50,476

 

 

49,652

 

 

48,366

 

 
LONG-TERM LIABILITIES:
Income taxes payable

 

14,617

 

 

9,309

 

 

8,652

 

Deferred tax liabilities

 

164

 

 

152

 

 

216

 

Other liabilities

 

14,093

 

 

11,969

 

 

4,391

 

Total liabilities

 

79,350

 

 

71,082

 

 

61,625

 

 
STOCKHOLDERS' EQUITY:
Common stock

 

28

 

 

28

 

 

28

 

Additional paid-in capital

 

152,117

 

 

143,554

 

 

126,164

 

Accumulated other comprehensive loss

 

(3,130

)

 

(1,084

)

 

(1,689

)

Retained earnings

 

575,531

 

 

422,830

 

 

402,569

 

Total stockholders' equity

 

724,546

 

 

565,328

 

 

527,072

 

Total liabilities and stockholders' equity

$

803,896

 

$

636,410

 

$

588,697

 

 
POWER INTEGRATIONS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
 
Three Months Ended Twelve Months Ended
December 31, 2019 September 30, 2019 December 31, 2018 December 31, 2019 December 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

$

158,291

 

$

17,099

 

$

22,736

 

$

193,468

 

$

69,984

 

Adjustments to reconcile net income to cash provided by operating activities
Depreciation

 

4,928

 

 

4,831

 

 

4,549

 

 

19,190

 

 

18,918

 

Amortization of intangible assets

 

1,373

 

 

1,357

 

 

1,300

 

 

5,213

 

 

5,267

 

Loss on disposal of property and equipment

 

35

 

 

62

 

 

98

 

 

249

 

 

553

 

Stock-based compensation expense

 

8,338

 

 

5,106

 

 

5,442

 

 

23,347

 

 

21,580

 

Amortization of premium (accretion of discount) on marketable securities

 

104

 

 

(66

)

 

(115

)

 

(192

)

 

227

 

Deferred income taxes

 

2,741

 

 

(381

)

 

(3,070

)

 

4,019

 

 

(4,465

)

Increase (decrease) in accounts receivable allowances

 

-

 

 

-

 

 

(198

)

 

57

 

 

(28

)

Change in operating assets and liabilities:
Accounts receivable

 

1,545

 

 

(351

)

 

2,868

 

 

(13,259

)

 

5,754

 

Inventories

 

(1,670

)

 

487

 

 

(6,656

)

 

(9,523

)

 

(23,770

)

Prepaid expenses and other assets

 

902

 

 

580

 

 

1,226

 

 

(2,132

)

 

(1,495

)

Accounts payable

 

(3,920

)

 

(6,789

)

 

(1,311

)

 

(6,556

)

 

1,336

 

Taxes payable and other accrued liabilities

 

9,492

 

 

(91

)

 

(8,540

)

 

10,618

 

 

(9,897

)

Net cash provided by operating activities

 

182,159

 

 

21,844

 

 

18,329

 

 

224,499

 

 

83,964

 

 
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment

 

(9,789

)

 

(5,977

)

 

(5,557

)

 

(24,114

)

 

(24,677

)

Acquisition of technology licenses

 

(675

)

 

(100

)

 

-

 

 

(1,026

)

 

(900

)

Purchases of marketable securities

 

(71,952

)

 

(80,864

)

 

(4,612

)

 

(207,240

)

 

(62,833

)

Proceeds from sales and maturities of marketable securities

 

4,150

 

 

46,762

 

 

10,050

 

 

70,334

 

 

157,551

 

Net cash provided by (used in) investing activities

 

(78,266

)

 

(40,179

)

 

(119

)

 

(162,046

)

 

69,141

 

 
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of common stock

 

225

 

 

4,005

 

 

803

 

 

9,908

 

 

9,353

 

Repurchase of common stock

 

-

 

 

-

 

 

(28,776

)

 

(7,302

)

 

(103,153

)

Payments of dividends to stockholders

 

(5,590

)

 

(4,999

)

 

(4,651

)

 

(20,506

)

 

(18,823

)

Proceeds from draw on line of credit

 

-

 

 

-

 

 

-

 

 

-

 

 

8,000

 

Payments on line of credit

 

-

 

 

-

 

 

-

 

 

-

 

 

(8,000

)

Net cash used in financing activities

 

(5,365

)

 

(994

)

 

(32,624

)

 

(17,900

)

 

(112,623

)

 
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

 

98,528

 

 

(19,329

)

 

(14,414

)

 

44,553

 

 

40,482

 

 
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD

 

80,162

 

 

99,491

 

 

148,551

 

 

134,137

 

 

93,655

 

 
CASH AND CASH EQUIVALENTS AT END OF PERIOD

$

178,690

 

$

80,162

 

$

134,137

 

$

178,690

 

$

134,137

 

 

 

EN
30/01/2020

Underlying

POWIPower Integrations Inc.

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Power Integrations Inc.

 PRESS RELEASE
Free
POWI Power Integrati...

Power Integrations to Release First-Quarter Financial Results on May 7

SAN JOSE, Calif.--(BUSINESS WIRE)-- Power Integrations (Nasdaq: ) will release its first-quarter financial results after market hours on Tuesday, May 7, 2024, and will host a conference call that day beginning at 1:30 p.m. Pacific time. Members of the investment community can register for the call by visiting the following link: . Live and archived audio webcasts of the conference call will be available on the company’s website at . About Power Integrations is a leading innovator in semiconductor technologies for high-voltage power conversion. The company’s products are key building blo...

April 8, 2024 1 EN
 PRESS RELEASE
Free
POWI Power Integrati...

Power Integrations Launches InnoMux-2, a New Switcher IC Family With M...

LONG BEACH, Calif.--(BUSINESS WIRE)-- APEC 2024 – (NASDAQ: ), the leader in high-voltage integrated circuits for energy-efficient power conversion, today announced the family of single-stage, independently regulated multi-output offline power-supply ICs. InnoMux-2 ICs consolidate AC-DC and downstream DC-DC conversion stages into a single chip, providing up to three independently regulated outputs for use in white goods, industrial systems, displays and other applications requiring multiple voltages. Elimination of separate DC-DC stages slashes component count, reduces PCB footprint and incre...

February 27, 2024 1 EN
 PRESS RELEASE
Free
POWI Power Integrati...

Power Integrations Reports Fourth-Quarter and Full-Year Financial Resu...

SAN JOSE, Calif.--(BUSINESS WIRE)-- Power Integrations (NASDAQ: ) today announced financial results for the quarter and year ended December 31, 2023. Net revenues for the fourth quarter were $89.5 million, down 29 percent compared to the prior quarter and down 28 percent from the fourth quarter of 2022. GAAP net income for the fourth quarter was $14.3 million or $0.25 per diluted share compared to $0.34 per diluted share in the prior quarter and $0.40 per diluted share in the fourth quarter of 2022. For the full year, net revenues were $444.5 million, compared to $651.1 million in the prior ...

February 8, 2024 1 EN
 PRESS RELEASE
Free
POWI Power Integrati...

Power Integrations Introduces InnoSwitch5 Offline Flyback Switcher IC

SAN JOSE, Calif.--(BUSINESS WIRE)-- (NASDAQ: ), the leader in high-voltage integrated circuits for energy-efficient power conversion, today announced the release of the family of high-efficiency, programmable flyback switcher ICs. The single-chip switcher achieves over 95 percent efficiency with a novel secondary-side control scheme which achieves zero-voltage switching (ZVS) without a dedicated and costly additional high-voltage switch. The new IC, which features a 750 V or a 900 V PowiGaN™ primary switch, primary-side controller, FluxLink™ isolated feedback and secondary controller with an...

January 30, 2024 1 EN
 PRESS RELEASE
Free
POWI Power Integrati...

Power Integrations to Release Fourth-Quarter Financial Results on Febr...

SAN JOSE, Calif.--(BUSINESS WIRE)-- Power Integrations (Nasdaq: ) will release its fourth-quarter financial results after market hours on Thursday, February 8, 2024, and will host a conference call that day beginning at 1:30 p.m. Pacific time. Members of the investment community can register for the call by visiting the following link: . Live and archived audio webcasts of the conference call will be available on the company’s website at . About Power Integrations is a leading innovator in semiconductor technologies for high-voltage power conversion. The company’s products are key build...

January 17, 2024 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch