Power Integrations Inc. Q1 Profit Drops, Inline With Estimates

(RTTNews) - Power Integrations Inc. (POWI) revealed earnings for first quarter that decreased from the same period last year in line with the Street estimates.

The company's earnings totaled $6.88 million, or $0.12 per share. This compares with $46.25 million, or $0.77 per share, in last year's first quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $14.22 million or $0.25 per share for the period.

Analysts on average had expected the company to earn $0.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 41.6% to $106.30 million from $182.15 million last year.

Power Integrations Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $6.88 Mln. vs. $46.25 Mln. last year. -EPS (Q1): $0.12 vs. $0.77 last year. -Analyst Estimates: $0.25 -Revenue (Q1): $106.30 Mln vs. $182.15 Mln last year.

-Guidance: Next quarter revenue guidance: $117 - $127 Mln