SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Power Integrations Inc. (POWI) on Thursday reported first-quarter earnings of $3.3 million.
On a per-share basis, the San Jose, California-based company said it had profit of 6 cents. Earnings, adjusted for one-time gains and costs, were 25 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The maker of integrated circuits used for power conversion posted revenue of $108.3 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $106.7 million.
For the current quarter ending in June, Power Integrations said it expects revenue in the range of $115 million to $120 million.
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