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Mar 31, 2024
Power Integrations Q1 2024 Earnings Report
Power Integrations' first quarter results for 2024 were announced, featuring revenues of $91.7 million, GAAP EPS of $0.07, and non-GAAP EPS of $0.18.
Key Takeaways
Power Integrations reported a net revenue of $91.7 million for Q1 2024, which is up 2% from the previous quarter but down 14% compared to Q1 2023. The company's GAAP net income was $4.0 million, or $0.07 per diluted share, while non-GAAP net income was $10.5 million, or $0.18 per diluted share. Orders have improved due to normalization of supply-chain inventories, and the company anticipates sequentially higher revenues in Q2.
Net revenues for Q1 2024 were $91.7 million, a 2% increase from the prior quarter but a 14% decrease from Q1 2023.
GAAP net income was $4.0 million, or $0.07 per diluted share, compared to $0.12 per diluted share in Q1 2023.
Non-GAAP net income was $10.5 million, or $0.18 per diluted share, compared to $0.25 per diluted share in Q1 2023.
Cash flow from operations for Q1 2024 was $15.9 million.
Power Integrations
Power Integrations
Power Integrations Revenue by Segment
Revenue by Segment
Communications Revenue
CapyFin.comComputer Revenue
CapyFin.comConsumer Revenue
CapyFin.comIndustrial Revenue
CapyFin.com Forward Guidance
The company expects sequentially higher revenues in the second quarter, accompanied by a further increase in gross margin driven by the dollar/yen exchange rate and higher manufacturing utilization.
Positive Outlook
- Revenues are expected to be $105 million plus or minus $5 million.
- GAAP gross margin is expected to be between 52.5 percent and 53.0 percent
- Non-GAAP gross margin is expected to be between 53.5 percent and 54.0 percent.
- GAAP operating expenses are expected to be between $54.5 million and $55 million.
- Non-GAAP operating expenses are expected to be between $44.5 million and $45 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income