Power Integrations Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Power Integrations Inc. (POWI) reported earnings for third quarter that declined from the same period last year.

The company's profit totaled $17.10 million, or $0.57 per share. This compares with $17.67 million, or $0.59 per share, in last year's third quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $23.26 million or $0.78 per share for the period.

Analysts had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.7% to $114.16 million from $110.09 million last year.

Power Integrations Inc. earnings at a glance:

-Earnings (Q3): $23.26 Mln. vs. $23.17 Mln. last year. -EPS (Q3): $0.78 vs. $0.77 last year. -Analysts Estimate: $0.75 -Revenue (Q3): $114.16 Mln vs. $110.09 Mln last year.