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Power Integrations: Q1 Earnings Snapshot
By Ap News - May 07, 2024, 04:54 PM ET
Last Updated - May 27, 2024, 01:01 AM EDT
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Power Integrations Inc. (POWI) on Tuesday reported first-quarter profit of $4 million.
On a per-share basis, the San Jose, California-based company said it had net income of 7 cents. Earnings, adjusted for one-time gains and costs, were 18 cents per share.
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The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The maker of integrated circuits used for power conversion posted revenue of $91.7 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $90 million.
For the current quarter ending in June, Power Integrations said it expects revenue in the range of $100 million to $110 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
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