Power Integrations Inc. Q3 Profit Increases, beats estimates

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

The company's bottom line came in at $45.96 million, or $0.80 per share. This compares with $42.03 million, or $0.69 per share, in last year's third quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $48.35 million or $0.84 per share for the period.

Analysts on average had expected the company to earn $0.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.4% to $160.23 million from $176.78 million last year.

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

-Earnings (Q3): $45.96 Mln. vs. $42.03 Mln. last year. -EPS (Q3): $0.80 vs. $0.69 last year. -Analyst Estimate: $0.83 -Revenue (Q3): $160.23 Mln vs. $176.78 Mln last year.

-Guidance: Next quarter revenue guidance: $120 - $130 Mln