Latest News by Industry
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Power Integrations Inc. (POWI) on Wednesday reported third-quarter net income of $14.3 million.
The San Jose, California-based company said it had net income of 25 cents per share. Earnings, adjusted for one-time gains and costs, were 40 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The maker of integrated circuits used for power conversion posted revenue of $115.8 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $114.6 million.
For the current quarter ending in December, Power Integrations said it expects revenue in the range of $100 million to $110 million.
_____
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