Power Integrations Inc. Q4 Profit Decreases, but beats estimates

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

The company's bottom line came in at $22.82 million, or $0.40 per share. This compares with $40.70 million, or $0.66 per share, in last year's fourth quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $27.87 million or $0.48 per share for the period.

Analysts on average had expected the company to earn $0.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 27.7% to $124.77 million from $172.65 million last year.

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

-Earnings (Q4): $22.82 Mln. vs. $40.70 Mln. last year. -EPS (Q4): $0.40 vs. $0.66 last year. -Analyst Estimates: $0.46 -Revenue (Q4): $124.77 Mln vs. $172.65 Mln last year.

-Guidance: Next quarter revenue guidance: $100 - $110 Mln