.gif)
.gif)
Industry News
February 5, 2013
Power Integrations Reports "Moderate Improvement" in Financial Results
Power Integrations, Inc. announced financial results for the quarter and year ended December 31, 2012. Net revenues for the quarter were $79.2 million, up one percent from the prior quarter and up 19 percent compared with the fourth quarter of 2011. GAAP net income for the quarter was $9.7 million or $0.33 per diluted share. This compares to a net loss in the prior quarter of $1.54 per share, the result of charges stemming from the closure of SemiSouth Laboratories. Net income in the year-ago quarter was $0.22 per diluted share. GAAP gross margin for the fourth quarter was 49.8 percent; operating margin was 12.0 percent.
Recommended: Altera Acquires Enpirion for $140 Million, Forms Power Business Unit
In addition to its GAAP results, the company provided non-GAAP financial measures that exclude stock-based compensation expenses, certain acquisition-related expenses, charges related to SemiSouth and the company's tax-audit settlement, non-cash interest income, and the tax effects of these items. Non-GAAP net income for the quarter was $13.7 million or $0.47 per diluted share, compared with $0.49 per diluted share in the prior quarter and $0.29 per diluted share in the fourth quarter of 2011. Non-GAAP gross margin for the fourth quarter was 52.8 percent; non-GAAP operating margin was 20.6 percent.
Commented Balu Balakrishnan, president and CEO of Power Integrations: "Bookings improved moderately over the course of the fourth quarter, resulting in higher-than-expected quarterly revenues of $79.2 million. Our non-GAAP gross margin is up five percentage points from a year ago, contributing to a 62-percent increase in our non-GAAP earnings per share in the fourth quarter.
Related: Eaton and CA Technologies Join to Deliver Infrastructure Management for Data Centers
"While uncertain global economic conditions make it difficult to forecast demand for the year ahead, we believe we are well positioned competitively and strategically, and our balance sheet remains sound. Accordingly, we are continuing to return cash to stockholders through a mix of share repurchases and dividends. We utilized more than $20 million for repurchases in the fourth quarter, and our board of directors has increased our quarterly dividend by 60 percent for the upcoming year, to eight cents per share."
For the full year 2012, net revenues were $305.4 million, an increase of two percent compared with 2011. The company reported a full-year GAAP net loss of $34.4 million or $1.20 per share, reflecting the charges related to SemiSouth as well as a one-time tax payment in the second quarter related to the settlement of the company's tax audit; this loss compares to GAAP net income of $34.3 million or $1.14 per diluted share in 2011. Non-GAAP net income for 2012 was $53.6 million or $1.80 per diluted share compared with $43.2 million or $1.44 per diluted share in 2011.
Share this story
Send via E-mail
Post to Twitter
On the Web:
White Papers
March 11, 2013
Power Modules for Charger Applications
Sponsored by Vincotech
February 27, 2013
The Adaptive Cell Converter Topology Enables Constant Efficiency Over Universal Input AC Line in Front-End, High-Density Power Factor Correction Applications
Sponsored by Vicor Corp.
February 27, 2013
From 48 V direct to Intel VR12.0: Saving "Big Data" $500,000 per datacenter, per year
Sponsored by Vicor Corp.
More White Papers
- Altera Acquires Enpirion for $140 Million, Forms Power Business Unit
- Ericsson Saves Board Space with Surface-Mount Digital Bus Converter
- SiC Modules, IGBTs and Super-Junction MOSFETs Introduced on Day One of PCIM
- PowerbyProxi Joins Wireless Power Consortium
- SiC and GaN Again a Major Focus at PCIM Europe
- Vincotech and Infineon Introduce New Packaging Options at PCIM Europe
- Bosch Claims First Sub-$450 240V EV Charging Station
- DOE Selects Consortium to Develop Next-Generation Batteries for Automobiles
- Dana Receives Grant from NRCan to Improve Thermal Management for EV Battery Packs
- Gate Drive Optocouplers for High-Speed SiC FETs Deliver up to 2.5A
- Power-One Gets $1 Billion – ABB Gets Inverters
- Renesas Adds IGBT Drivers with Micro-Isolator for Electric and Hybrid Vehicle Inverters
- Bosch Claims First Sub-$450 240V EV Charging Station
- Eltek Signs Agreement with Caterpillar on Telecom Hybrid Systems
- Altera Acquires Enpirion for $140 Million, Forms Power Business Unit
- LED Lighting Power & Dimming Controls Introduced by Phihong
- SL Packs 60 Watts of Industrial-Grade AC-DC Power in Small and Robust Package
- Eltek's New Rectifier Delivers 97.2% Efficiency for Data Center and Server Powering
- Fairchild's Integrated Low-Side Gate Driver Incorporates 3.3-V LDO in 5-Lead SOT-23
- Vicor Reports Reduced Q1 Results – Anticipates a Brighter Future
- Green Building Power Forum 2010: Fujitsu Components America
- Darnell's Digital Power Forum 2009: CUI Incorporated
- Green Building Power Forum 2010: EMerge Alliance
- Green Building Power Forum 2010: Anderson Power Products
- Green Building Power Forum 2009: Independence Station
- Darnell's Digital Power Forum 2009: Coilcraft
- Darnell's Digital Power Forum 2009: Champs Technologies
- Darnell's Digital Power Forum 2009: EXAR Corporation
- Darnell's Digital Power Forum 2009: PMBus
- Darnell's Digital Power Forum 2009: Power Plaza
Design Features
October 22, 2012
Energy Efficiency with Class D Amplifier Modules
Class-D switching amplifiers are helping audio designers create personal multimedia devices and home audio/visual systems that demonstrate how compact and stylish equipment can also deliver high sound quality and high audio output power. The key to this breakthrough, providing freedom from the large and bulky boxes housing traditional audio products, lies in the class-D amplifier’s high energy efficiency, which is typically around 90%. This allows designers to reduce or eliminate heatsinks as well as using smaller-sized PCBs and smaller components such as transformers, connectors and power supplies.
Design Features
October 8, 2012
The Role of Hall Effect Sensors in Power Distribution Infrastructure
Power distribution units (PDUs) form an essential part of modern computing and data communications hardware. They provide multiple outputs for transferring electrical power with maximum efficiency, controlling the power capacity and safeguarding against the possible causes of supply interruption. With an ever increasing need from tech savvy consumers for higher data throughput and greater quantities of data storage capacity, as well as tough international legislation now governing CO&sub2; emissions, the demands being placed on these units are proving challenging for engineering teams to satisfy.
Product Focus
August 13, 2012
The Year in AC-DC Power Supply Technology
The past year witnessed significant new product releases, technological developments, and industry news related to the field of AC-DC Power Supply technology.