Power Integrations Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Power Integrations Inc. (POWI) announced a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $14.27 million, or $0.25 per share. This compares with $22.82 million, or $0.40 per share, in last year's fourth quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $12.7 million or $0.22 per share for the period.

Analysts on average had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 28.3% to $89.51 million from $124.77 million last year.

Power Integrations Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $14.27 Mln. vs. $22.82 Mln. last year. -EPS (Q4): $0.25 vs. $0.40 last year. -Analyst Estimates: $0.15 -Revenue (Q4): $89.51 Mln vs. $124.77 Mln last year.

-Guidance: Next quarter revenue guidance: $85 - $95 Mln