SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Power Integrations Inc. (POWI) on Wednesday reported second-quarter profit of $1.4 million.
The San Jose, California-based company said it had profit of 2 cents per share. Earnings, adjusted for one-time gains and costs, came to 35 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The maker of integrated circuits used for power conversion posted revenue of $115.9 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $114.8 million.
For the current quarter ending in September, Power Integrations said it expects revenue in the range of $113 million to $123 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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