Power Integrations Inc. (POWI) revealed a profit for first quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $3.95 million, or $0.07 per share. This compares with $6.88 million, or $0.12 per share, in last year's first quarter.
Excluding items, Power Integrations Inc. reported adjusted earnings of $10.49 million or $0.18 per share for the period.
Analysts on average had expected the company to earn $0.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 13.7% to $91.69 million from $106.30 million last year.
Power Integrations Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $3.95 Mln. vs. $6.88 Mln. last year.
-EPS (Q1): $0.07 vs. $0.12 last year.
-Revenue (Q1): $91.69 Mln vs. $106.30 Mln last year.
-Guidance:
Next quarter revenue guidance: $100 - $110 Mln
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