Power Integrations Inc. Q3 Profit Decreases, misses estimates

(RTTNews) - Power Integrations Inc. (POWI) reported a profit for third quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $19.80 million, or $0.34 per share. This compares with $45.96 million, or $0.80 per share, in last year's third quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $26.60 million or $0.46 per share for the period.

Analysts on average had expected the company to earn $0.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 21.7% to $125.51 million from $160.22 million last year.

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

-Earnings (Q3): $19.80 Mln. vs. $45.96 Mln. last year. -EPS (Q3): $0.34 vs. $0.80 last year. -Analyst Estimates: $0.84 -Revenue (Q3): $125.51 Mln vs. $160.22 Mln last year.

-Guidance: Next quarter revenue guidance: $85 - $95 Mln