Power Integrations Inc. (POWI) released earnings for second quarter that decreased from last year but beat the Street estimates.
The company's bottom line came in at $4.8 million, or $0.09 per share. This compares with $14.8 million, or $0.26 per share, in last year's second quarter.
Excluding items, Power Integrations Inc. reported adjusted earnings of $15.9 million or $0.28 per share for the period.
Analysts on average had expected the company to earn $0.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 13.8% to $106.2 million from $123.2 million last year.
Power Integrations Inc. earnings at a glance (GAAP) :
-Earnings (Q2): $4.8 Mln. vs. $14.8 Mln. last year.
-EPS (Q2): $0.09 vs. $0.26 last year.
-Revenue (Q2): $106.2 Mln vs. $123.2 Mln last year.
-Guidance:
Next quarter revenue guidance: $110-$120 Mln
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