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Power Integrations Inc (POWI) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Power Integrations Inc

CIK: 833640 Ticker: POWI

Exhibit 99.1

Power Integrations Reports Third-Quarter Financial Results

GAAP earnings were $0.59 per diluted share; non-GAAP earnings were $0.77 per diluted share; revenues were $110.1 million

Board of directors authorizes use of $80 million for share repurchases

SAN JOSE, Calif.--(BUSINESS WIRE)--October 25, 2018--Power Integrations (Nasdaq: POWI) today announced financial results for the quarter ended September 30, 2018. Net revenues for the third quarter were $110.1 million, an increase of one percent from the prior quarter and a decrease of one percent from the third quarter of 2017. Net income for the quarter was $17.7 million or $0.59 per diluted share, compared to net income of $0.51 per diluted share in the prior quarter and $0.54 per diluted share in the third quarter of 2017. Cash flow from operations was $23.2 million for the quarter.

In addition to its GAAP results, the company provided certain non-GAAP financial measures that exclude stock-based compensation expenses, amortization of acquisition-related intangible assets and the tax effects of these items. Non-GAAP net income for the third quarter of 2018 was $23.2 million or $0.77 per diluted share, compared with $0.74 per diluted share in the prior quarter and $0.78 per diluted share in the third quarter of 2017.

Commented Balu Balakrishnan, president and CEO of Power Integrations: “Although revenues fell short of our expectations, we delivered healthy earnings driven by a slightly better-than-expected gross margin and lower-than-expected operating expenses. We are projecting lower revenues in the fourth quarter reflecting ongoing inventory reductions across the supply chain and softer demand in China, particularly in the appliance market. Nevertheless, we remain optimistic about the growth opportunities ahead of us in 2019 and beyond. As a reflection of our confidence, our board has allocated an additional $80 million for share repurchases – the largest buyback program in our history.”


The following information was filed by Power Integrations Inc (POWI) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Power Integrations Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Income (Unaudited)
Basis Of Presentation
Commitments
Common Stock Repurchases And Cash Dividends
Common Stock Repurchases And Cash Dividends (Tables)
Common Stock Repurchases And Cash Dividends Cash Dividends (Details)
Common Stock Repurchases And Cash Dividends Common Stock Repurchases (Details)
Components Of The Company's Condensed Consolidated Balance Sheets
Components Of The Company's Condensed Consolidated Balance Sheets (Tables)
Components Of The Company's Condensed Consolidated Balance Sheets Accounts Receivable (Details)
Components Of The Company's Condensed Consolidated Balance Sheets Changes In Accumulated Other Comprehensive Income (Loss) (Details)
Components Of The Company's Condensed Consolidated Balance Sheets Future Amortization Expense (Details)
Components Of The Company's Condensed Consolidated Balance Sheets Intangible Assets (Details)
Components Of The Company's Condensed Consolidated Balance Sheets Inventory (Details)
Components Of The Company's Condensed Consolidated Balance Sheets Prepaid Expenses And Other Current Assets (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements Fair Value Measurement (Details)
Indemnifications
Legal Proceedings And Contingencies
Legal Proceedings And Contingencies (Details)
Marketable Securitites
Marketable Securitites (Tables)
Marketable Securitites Marketable Securities (Details)
Provision For Income Taxes
Provision For Income Taxes (Details)
Significant Accounting Policies And Recent Accounting Pronouncements
Significant Customers And Geographic Net Revenues
Significant Customers And Geographic Net Revenues Concentration Risks (Tables)
Significant Customers And Geographic Net Revenues Customer And Credit Risk Concentration (Details)
Significant Customers And Geographic Net Revenues Geographic Net Revenues (Tables)
Significant Customers And Geographic Net Revenues Geograpic Net Revenues (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation Option Activity (Details)
Stock-Based Compensation Performance-Based Awards And Restricted Stock Units (Details)
Stock-Based Compensation Stock-Based Compensation (Details)

Material Contracts, Statements, Certifications & more

Power Integrations Inc provided additional information to their SEC Filing as exhibits

Ticker: POWI
CIK: 833640
Form Type: 10-Q Quarterly Report
Accession Number: 0000833640-18-000215
Submitted to the SEC: Thu Oct 25 2018 5:10:27 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Semiconductors And Related Devices

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