Power Integrations: Q4 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Power Integrations Inc. (POWI) on Thursday reported fourth-quarter profit of $13.3 million.
The San Jose, California-based company said it had net income of 24 cents per share. Earnings, adjusted for one-time gains and costs, came to 23 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The maker of integrated circuits used for power conversion posted revenue of $103.2 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $103.3 million.
For the year, the company reported profit of $22.1 million, or 39 cents per share. Revenue was reported as $443.5 million.
For the current quarter ending in March, Power Integrations said it expects revenue in the range of $104 million to $109 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on POWI at https://www.zacks.com/ap/POWI