Power Integrations, Inc. (POWI) Misses Q3 EPS by 5c; Guides Below the Street

Power Integrations, Inc. (NASDAQ: POWI) reported Q3 EPS of $0.65, $0.05 worse than the analyst estimate of $0.70. Revenue for the quarter came in at $90.1 million versus the consensus estimate of $95 million.

Power Integrations, Inc. sees Q4 2014 EPS of $83-$89, versus the consensus of $97.93.

Commented Balu Balakrishnan, president and CEO of Power Integrations: “Revenues and earnings increased sequentially, but like many of our industry peers we saw a slowdown in orders over the course of the quarter, resulting in less-than-seasonal sales growth. Revenues from the communications end-market increased by more than 20 percent sequentially, but demand was less than expected across the other end-market categories.

“While our near-term outlook reflects a tepid demand environment, our profitability and cash flow remain healthy, and our strong balance sheet enables us to further expand our share-repurchase program at an opportune moment. We continue to invest for long-term growth, and we remain optimistic about our expanding addressable market, our pipeline of innovative products, and the growing demand for energy-efficiency and renewable energy.”

For earnings history and earnings-related data on Power Integrations, Inc. (POWI) click here.

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