Power Integrations (POWI) Tops Q1 EPS by 10c, Revenues Beat; 2Q Revenue Guidance Below Consensus

Power Integrations (NASDAQ: POWI) reported Q1 EPS of $0.76, $0.10 better than the analyst estimate of $0.66. Revenue for the quarter came in at $109.66 million versus the consensus estimate of $107.06 million.

Commented Balu Balakrishnan, president and CEO of Power Integrations: “Our first-quarter results were strong, and we continue to execute well in spite of the challenges presented by the coronavirus pandemic. While the near-term demand outlook is uncertain and a downturn is clearly underway, we remain confident in our long-term growth prospects and continue to invest accordingly. Reflecting the strength of our balance sheet and our confidence in the future of our company, we are also increasing our quarterly dividend by more than ten percent.”

GUIDANCE:

Power Integrations sees Q2 2020 revenue of $101-106 million, versus the consensus of $107.32 million.

The company issued the following forecast for the second quarter of 2020:

• Revenues are expected to be $106 million plus or minus $5 million.
• GAAP gross margin is expected to be between 50 percent and 50.5 percent. Non-GAAP gross margin is expected to be between 51 percent and 51.5 percent. (The difference between the expected GAAP and non-GAAP gross margins comprises approximately 0.7 percentage points from amortization of acquisition-related intangible assets and 0.3 percentage points from stock-based compensation.)
• GAAP operating expenses are expected to be approximately $43 million; non-GAAP operating expenses are expected to be approximately $35.5 million. (Non-GAAP expenses are expected to exclude approximately $7.3 million of stock-based compensation and $0.2 million of amortization of acquisition-related intangible assets.)

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

You May Also Be Interested In

• Bristol-Myers Squibb (BMY) stock slips despite earnings beat
• The Shyft Group (SHYF) Tops Q1 EPS by 10c ; Offers Guidance
• Hertz Global (HTZ) misses earnings expectations as fleet costs weigh