Power Integrations Q3 revenue $125.5M, -22% YoY; guides Q4 revenue ~$90M; dividend raised 5%

POWER INTEGRATIONS INC

2023-Q3 EPS reported $0.72 revenue$355,031,000

GAAP EPS $0.34, non-GAAP EPS $0.46; revenue down 22% YoY and up 2% sequentially.
Q4 2023 revenue guidance $90M ±$5M, well below Q3 level; GAAP opex ~$50M.
Quarterly dividend increased 5% to $0.20/share; payable Dec. 29, 2023 to holders of record Nov. 30.
Operating cash flow $26.7M; repurchased ~24k shares for $1.8M during Q3.
CEO cites broad demand weakness and elevated supply-chain inventories as key headwinds.

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 0.98

POWER INTEGRATIONS INC reported the quarter ended September 30, 2023 results: revenue $125.5 million, net income $19.8 million or $0.34 per diluted share, EPS $0.34 per diluted share. Guidance lowered.

Period: the quarter ended September 30, 2023
Revenue: $125.5 million
Net income: $19.8 million or $0.34 per diluted share
EPS: $0.34 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

Power Integrations (NASDAQ: POWI) today announced financial results for the quarter ended September 30, 2023. Net revenues for the third quarter were $125.5 million

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Source: SEC EDGAR

accession 0001157523-23-001668

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