Power Integrations Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Power Integrations Inc. (POWI) revealed a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $14.79 million, or $0.26 per share. This compares with $55.82 million, or $0.96 per share, in last year's second quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $21.01 million or $0.36 per share for the period.

Analysts on average had expected the company to earn $0.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 33.0% to $123.22 million from $183.99 million last year.

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

-Earnings (Q2): $14.79 Mln. vs. $55.82 Mln. last year. -EPS (Q2): $0.26 vs. $0.96 last year. -Analyst Estimates: $0.34 -Revenue (Q2): $123.22 Mln vs. $183.99 Mln last year.

-Guidance: Next quarter revenue guidance: $125 - $135 Mln