Power Integrations (POWI) Tops Q3 EPS by 4c; Guides Q4 Revenues Higher
Power Integrations (NASDAQ: POWI) reported Q3 EPS of $0.40, $0.04 better than the analyst estimate of $0.36. Revenue for the quarter came in at $121.1 million versus the consensus estimate of $115.12 million.
Commented Balu Balakrishnan, president and CEO of Power Integrations: “Third-quarter revenues exceeded our expectations as we saw continued growth in fast charging for mobile devices as well as improved demand from the appliance market. Distribution sell-through strengthened considerably compared to the prior quarter, and we expect healthy sequential revenue growth in the fourth quarter. At the midpoint of our fourth-quarter revenue range, we would achieve double-digit revenue growth for the full year.”
Power Integrations sees Q4 2020 revenue of $125-135 million, versus the consensus of $116.1 million.
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