Power Integrations Q1 revenue $91.7M, down 14% YoY; guides Q2 rev ~$105M

POWER INTEGRATIONS INC

2024-Q1 EPS reported $0.07 revenue$91,688,000

GAAP EPS $0.07, non-GAAP EPS $0.18; cash flow from operations $15.9M.
Q2 revenue guidance $105M ±$5M; GAAP gross margin 52.5%-53.0%.
Acquired Odyssey Semiconductor assets to advance high-power GaN; close expected July 2024.
Dividend $0.20 per share payable June 28, 2024 to holders of record May 31, 2024.
Repurchased 207K shares for $14.6M in Q1; $11.3M remaining on buyback authorization.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

POWER INTEGRATIONS INC reported second quarter of 2024 results: revenue $105 million plus or minus $5 million. Guidance initiated.

Period: second quarter of 2024
Revenue: $105 million plus or minus $5 million
Guidance: initiated
Result: guidance update

Exact text from the filing

Revenues are expected to be $105 million plus or minus $5 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

POWER INTEGRATIONS INC reported first quarter of 2024 results: revenue $91.7 million, net income $4.0 million, EPS $0.07 per diluted share.

Period: first quarter of 2024
Revenue: $91.7 million
Net income: $4.0 million
EPS: $0.07 per diluted share
Result: reported results

Exact text from the filing

Net revenues for the first quarter were $91.7 million, up two percent from the prior quarter and down 14 percent from the first quarter of 2023. GAAP net income for the first quarter was $4.0 million or $0.07 per diluted share compared to $0.25 per diluted share in the prior quarter and $0.12 per diluted share in the first quarter of 2023.

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Source: SEC EDGAR

accession 0000833640-24-000105

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