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Mar 31, 2022
Power Integrations Q1 2022 Earnings Report
Reported record revenues and strong earnings growth driven by innovative products and strong delivery performance.
Key Takeaways
Power Integrations reported a strong first quarter with revenues up 5% year-over-year to $182.1 million and GAAP earnings of $0.77 per diluted share. The company saw strong uptake of their GaN products and BridgeSwitch motor-drive ICs. They also repurchased 1.6 million shares for $135 million and added $75 million to the repurchase authorization.
Revenues increased five percent year-over-year to $182.1 million.
GAAP earnings were $0.77 per diluted share.
Non-GAAP earnings were $0.93 per diluted share
Company repurchased 1.6M shares during the quarter for $135M; $75M added to repurchase authorization
Revenue by Segment
Forward Guidance
The company issued the following forecast for the second quarter of 2022: Revenues are expected to be $190 million plus or minus $5 million. GAAP gross margin is expected to be between 55.5 percent and 56 percent. Non-GAAP gross margin is expected to be between 56 percent and 56.5 percent. GAAP operating expenses are expected to be between $52.5 million and $53.5 million; non-GAAP operating expenses are expected to be between $43.5 million and $44.5 million. Non-GAAP expenses are expected to exclude approximately $8.9 million of stock-based compensation and $0.1 million of amortization of acquisition-related intangible assets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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