Power Integrations Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Power Integrations Inc. (POWI) reported earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $46.25 million, or $0.77 per share. This compares with $39.80 million, or $0.65 per share, in last year's first quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $55.80 million or $0.93 per share for the period.

Analysts on average had expected the company to earn $0.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.8% to $182.15 million from $173.74 million last year.

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

-Earnings (Q1): $46.25 Mln. vs. $39.80 Mln. last year. -EPS (Q1): $0.77 vs. $0.65 last year. -Analyst Estimate: $0.87 -Revenue (Q1): $182.15 Mln vs. $173.74 Mln last year.

-Guidance: Next quarter revenue guidance: $185 - $195 Mln