Power Integrations Inc

NASDAQ:POWIUnited States

Today

Show headlines and story abstract

• -- Earnings Flash (POWI) POWER INTEGRATIONS Reports Q1 Revenue $91.7M, vs. Street Est of $90M, from 5 hours ago by MT Newswires

  5 hours ago by MT Newswires
  Companies Mentioned: POWI
  04:09 PM EDT, 05/07/2024 (MT Newswires) -- ...

• -- Earnings Flash (POWI) POWER INTEGRATIONS Reports Q1 EPS $0.18, vs. Street Est of $0.13, from 5 hours ago by MT Newswires

  5 hours ago by MT Newswires
  Companies Mentioned: POWI
  04:09 PM EDT, 05/07/2024 (MT Newswires) -- ...

• Power Integrations Reports First-Quarter Financial Results, from 5 hours ago by Business Wire

  5 hours ago by Business Wire
  Companies Mentioned: POWI

  Power Integrations (NASDAQ: POWI) today announced financial results for the quarter ended March 31, 2024. Net revenues for the first quarter were $91.7 million, up two percent from the prior quarter and down 14 percent from the first quarter of 2023. GAAP net income for the first quarter was $4.0 million or $0.07 per diluted share compared to $0.25 per diluted share in the prior quarter and $0.12 per diluted share in the first quarter of 2023. Cash flow from operations for the first quarter was $15.9 million.

• Power Integrations Reports First-Quarter Financial Results, from 5 hours ago by Dow Jones

  5 hours ago by Dow Jones
  Companies Mentioned: POWI
  Income taxes payable 6,193 6,244 Other liabilities 11,870 12,516 ----------- -------------- Total liabilities 67,598 67,627 ----------- -------------- STOCKHOLDERS' EQUITY: Common stock 22 23 Additional paid-in capital - - Accumulated other comprehensive loss (2,559) (1,462) Retained earnings 740,715 753,680 ----------- -------------- Total stockholders' equity 738,178 752,241 ----------- -------------- Total liabilities and stockholders' equity $ 805,776 $ 819,868 =========== ============== POWER INTEGRATIONS, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Three Months Ended March 31, December 31, 2024 2023 March 31, 2023 ------------- ------------- --------------- CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 3,954 $ 14,271 $ 6,875 Adjustments to reconcile net income to cash provided by operating activities Depreciation 8,715 8,887 8,961 Amortization of intangible assets 543 543 543 Loss on disposal of property and equipment 8 14 7 Stock-based compensation expense 6,414 7,503 7,368 Amortization of premium (accretion of discount) on marketable securities (496) (497) 404 Deferred income taxes (1,330) 705 (738) Increase (decrease) in accounts receivable allowance for credit losses 163 - (454) Change in operating assets and liabilities: Accounts receivable 2,232 13,865 705 Inventories (4,701) (12,918) (7,024) Prepaid expenses and other assets 846 (346) (2,302) Accounts payable 1,294 (2,553) 2,926 Taxes payable and other accrued liabilities (1,737) (13,207) (686) -------- -------- -------- Net cash provided by operating activities 15,905 16,267 16,585 -------- -------- -------- CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (4,343) (6,143) (4,082) Purchases of marketable securities (49,912) (18,196) (36,922) Proceeds from sales and maturities of marketable securities 54,198 36,045 22,693 -------- -------- -------- Net cash provided by (used in) investing activities (57) 11,706 (18,311) -------- -------- -------- CASH FLOWS FROM FINANCING ACTIVITIES: Net proceeds from issuance of common stock 2,691 - 3,098 Repurchase of common stock (14,641) (47,444) (1,687) Payments of dividends to stockholders (11,384) (11,343) (10,868) -------- -------- -------- Net cash used in financing activities (23,334) (58,787) (9,457) -------- -------- -------- NET DECREASE IN CASH AND CASH EQUIVALENTS (7,486) (30,814) (11,183) CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 63,929 94,743 105,372 -------- -------- -------- CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 56,443 $ 63,929 $ 94,189 ======== ======== ========
  

• *DJ Power Integrations 1Q EPS 7c >POWI, from 5 hours ago by Dow Jones

  5 hours ago by Dow Jones
  Companies Mentioned: POWI