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Power Integrations: 4Q Earnings Snapshot

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SAN JOSE, Calif. (AP) _ Power Integrations Inc. (POWI) on Tuesday reported fourth-quarter profit of $27.3 million.

On a per-share basis, the San Jose, California-based company said it had profit of 45 cents. Earnings, adjusted for one-time gains and costs, came to 60 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The maker of integrated circuits used for power conversion posted revenue of $150.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $130 million.

For the year, the company reported profit of $71.2 million, or $1.17 per share. Revenue was reported as $488.3 million.

Power Integrations shares have increased almost 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $88.90, a rise of 77% 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