SAN JOSE, Calif. (AP) _ Power Integrations Inc. (POWI) on Thursday reported third-quarter earnings of $17.1 million.
The San Jose, California-based company said it had profit of 57 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 78 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The maker of integrated circuits used for power conversion posted revenue of $114.2 million in the period, which matched Street forecasts.
For the current quarter ending in December, Power Integrations said it expects revenue in the range of $111 million to $117 million.
Power Integrations shares have increased 46% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $88.76, an increase of 66% in the last 12 months.