Power Integrations: Q1 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Power Integrations Inc. (POWI) on Monday reported first-quarter earnings of $8.8 million.
The San Jose, California-based company said it had net income of 15 cents per share. Earnings, adjusted for stock option expense and pretax expenses, came to 31 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The maker of integrated circuits used for power conversion posted revenue of $105.5 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $105.6 million.
For the current quarter ending in June, Power Integrations said it expects revenue in the range of $110 million to $120 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on POWI at https://www.zacks.com/ap/POWI