Power Integrations Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Power Integrations Inc. (POWI) revealed earnings for its first quarter that increased from last year.

The company's bottom line totaled $39.80 million, or $0.65 per share. This compares with $15.89 million, or $0.26 per share, in last year's first quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $46.67 million or $0.76 per share for the period.

Analysts had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 58.4% to $173.74 million from $109.66 million last year.

Power Integrations Inc. earnings at a glance:

-Earnings (Q1): $46.67 Mln. vs. $22.90 Mln. last year. -EPS (Q1): $0.76 vs. $0.38 last year. -Analysts Estimate: $0.56 -Revenue (Q1): $173.74 Mln vs. $109.66 Mln last year.