SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Power Integrations Inc. (POWI) on Thursday reported fourth-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, came to 22 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The maker of integrated circuits used for power conversion posted revenue of $89.5 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $90.2 million.

For the year, the company reported profit of $55.7 million, or 97 cents per share. Revenue was reported as $444.5 million.

For the current quarter ending in March, Power Integrations said it expects revenue in the range of $85 million to $95 million.

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