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Jun 30, 2022
Power Integrations Q2 2022 Earnings Report
Reported revenue increase of two percent and non-GAAP EPS growth of 24 percent year-over-year.
Key Takeaways
Power Integrations reported a two percent year-over-year increase in revenue, reaching $184 million. GAAP earnings per diluted share were $0.96, while non-GAAP earnings per diluted share grew 24 percent year-over-year to $1.03. The company generated $67 million in cash from operations and returned over $160 million to stockholders through buybacks and dividends.
Net revenues for the second quarter were $184.0 million, up two percent from the second quarter of 2021.
Net income for the second quarter was $55.8 million or $0.96 per diluted share.
Non-GAAP net income for the second quarter of 2022 was $59.9 million or $1.03 per diluted share.
Cash flow from operations for the second quarter was $66.8 million.
Revenue by Segment
Forward Guidance
Revenues are expected to be $165 million plus or minus five percent for Q3 2022.
Positive Outlook
- GAAP gross margin is expected to be approximately 57.5 percent.
- Non-GAAP gross margin is expected to be approximately 58 percent.
- GAAP operating expenses are expected to be approximately $51 million.
- Non-GAAP operating expenses are expected to be approximately $42.5 million.
Challenges Ahead
- Revenues are expected to be $165 million plus or minus five percent.
- The difference between GAAP and non-GAAP gross margins is approximately equally attributable to stock-based compensation and amortization of acquisition-related intangible assets.
- Non-GAAP expenses are expected to exclude approximately $8.5 million of stock-based compensation.
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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