Power Integrations: 1Q Earnings Snapshot

SAN JOSE, Calif. (AP) _ Power Integrations Inc. (POWI) on Thursday reported first-quarter profit of $7.2 million.

On a per-share basis, the San Jose, California-based company said it had net income of 25 cents. Earnings, adjusted for one-time gains and costs, came to 41 cents per share.

The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 41 cents per share.

The maker of integrated circuits used for power conversion posted revenue of $89.2 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $90 million.

For the current quarter ending in July, Power Integrations said it expects revenue in the range of $97 million to $103 million.

Power Integrations shares have climbed 28 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $78.01, an increase of 17 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on POWI at https://www.zacks.com/ap/POWI