SAN JOSE, Calif. (AP) _ Power Integrations Inc. (POWI) on Thursday reported fourth-quarter earnings of $158.3 million.
The San Jose, California-based company said it had profit of $5.28 per share. Earnings, adjusted for one-time gains and costs, came to 82 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The maker of integrated circuits used for power conversion posted revenue of $114.5 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $114.3 million.
For the year, the company reported profit of $193.5 million, or $6.49 per share. Revenue was reported as $420.7 million.
Power Integrations expects full-year revenue in the range of $107 million to $113 million.
Power Integrations shares have decreased 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $97.76, a climb of 49% in the last 12 months.