SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Power Integrations Inc. (POWI) on Thursday reported first-quarter earnings of $6.9 million.
On a per-share basis, the San Jose, California-based company said it had profit of 12 cents. Earnings, adjusted for one-time gains and costs, came to 25 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The maker of integrated circuits used for power conversion posted revenue of $106.3 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $105.3 million.
For the current quarter ending in June, Power Integrations said it expects revenue in the range of $117 million to $127 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
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