Power Integrations Q4 revenue $124.8M, down 28% YoY; guides Q1 $105M

POWER INTEGRATIONS INC

2022-FY EPS reported $2.93 revenue$651,138,000

Q4 revenue $124.8M (-28% YoY); GAAP EPS $0.40 vs $0.66; non-GAAP EPS $0.48 vs $0.83.
Full-year revenue $651.1M (-7% YoY); GAAP EPS $2.93 vs $2.67; non-GAAP EPS $3.29 vs $3.26.
Q1 2023 guidance: revenue $105M ±$5M (down ~16% QoQ); GAAP gross margin ~53%, non-GAAP ~53.5%.
Dividend increased 6% to $0.19/share payable Mar 31, 2023; $18.7M share repurchases in Q4.
CEO cites weaker demand and excess inventory; expects revenue to bottom in Q1.

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 the quarter and year ended December 31, 2022 results: revenue $124.8 million, net income $22.8 million or $0.40 per diluted share, EPS $0.40 per diluted share.

Period: the quarter and year ended December 31, 2022
Revenue: $124.8 million
Net income: $22.8 million or $0.40 per diluted share
EPS: $0.40 per diluted share
Result: reported results

Exact text from the filing

Net revenues for the fourth quarter were $124.8 million, down 22 percent compared to the prior quarter and down 28 percent from the fourth quarter of 2021. Net income for the fourth quarter was $22.8 million or $0.40 per diluted share compared to $0.80 per diluted share in the prior quarter and $0.66 per diluted share in the fourth quarter of 2021.

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Source: SEC EDGAR

accession 0001157523-23-000173

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