Power Integrations, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 08, 2024 at 04:03 pm EST
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Power Integrations, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 89.51 million compared to USD 124.77 million a year ago. Net income was USD 14.27 million compared to USD 22.82 million a year ago. Basic earnings per share from continuing operations was USD 0.25 compared to USD 0.4 a year ago. Diluted earnings per share from continuing operations was USD 0.25 compared to USD 0.4 a year ago.
For the full year, sales was USD 444.54 million compared to USD 651.14 million a year ago. Net income was USD 55.74 million compared to USD 170.85 million a year ago. Basic earnings per share from continuing operations was USD 0.97 compared to USD 2.96 a year ago. Diluted earnings per share from continuing operations was USD 0.97 compared to USD 2.93 a year ago.
Power Integrations, Inc. designs, develops and markets analog and mixed-signal integrated circuits (ICs) and other electronic components and circuitry used in high-voltage power conversion. The Company's products are used in power converters that convert electricity from a high-voltage source to the type of power required for a specified downstream use. The Company's ICs used in alternating current (AC)-direct current (DC) power supply convert high-voltage AC from a wall outlet to the low-voltage DC required by electronic devices. The Company offers a range of products, such as TOPSwitch, TinySwitch, LinkSwitch and Hiper families. It also offers CapZero and SenZero families. The Company offers a range of high-voltage gate-driver products sold under the SCALE and SCALE-II product-family names. The BridgeSwitch family of products is a family of motor-driver ICs addressing brushless DC (BLDC) motor applications up to approximately 400 watts.
POWER INTEGRATIONS, INC. 
