Power Integrations: Q3 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Power Integrations Inc. (POWI) on Tuesday reported third-quarter net income of $19.8 million.
The San Jose, California-based company said it had net income of 34 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 46 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The maker of integrated circuits used for power conversion posted revenue of $125.5 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $130.8 million.
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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
