Power Integrations (POWI) Tops Q2 EPS by 9c

Power Integrations (NASDAQ: POWI) reported Q2 EPS of $0.60, $0.09 better than the analyst estimate of $0.51. Revenue for the quarter came in at $97.2 million versus the consensus estimate of $91.29 million.

Commented Balu Balakrishnan, president and CEO of Power Integrations: “We achieved record quarterly revenues, with sequential growth across all four end-market categories. Growth was strongest in the communications market, where our InnoSwitch™ products continue to make gains in rapid-charging applications for the mobile-device market. In spite of a challenging demand environment for the semiconductor industry, our first-half revenues increased nine percent from the prior year, and we expect healthy year-over-year growth to continue in the second half of the year.”

GUIDANCE:

Power Integrations sees Q3 2016 revenue of $96-102 million, versus the consensus of $97.11 million.

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

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