Loading...
•
Dec 31, 2022
Power Integrations Q4 2022 Earnings Report
Power Integrations' fourth-quarter results declined due to weaker demand and excess inventory, but distribution inventory decreased.
Key Takeaways
Power Integrations reported Q4 2022 net revenues of $124.8 million, a 28% decrease from Q4 2021. GAAP earnings per diluted share were $0.40, while non-GAAP earnings per diluted share were $0.48. The company used $18.7 million for share repurchases during the quarter and increased its quarterly dividend by six percent to $0.19 per share.
Q4 revenues were $124.8 million, a 28% decrease year-over-year.
GAAP EPS was $0.40, down from $0.66 in Q4 2021.
Non-GAAP EPS was $0.48, compared to $0.83 in Q4 2021.
The company repurchased $18.7 million worth of shares and authorized a dividend increase to $0.19 per share.
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 revenues to be $105 million plus or minus $5 million for the first quarter of 2023.
Positive Outlook
- Distribution inventory decreased in the fourth quarter.
- Further improvement is expected in the months ahead.
- Revenues are expected to bottom in the first quarter.
- The company has a strong pipeline of design activity.
- The company benefits from a broad range of growth drivers.
Challenges Ahead
- Weaker demand across most end-markets.
- Excess inventory in the supply chain.
- The demand environment remains uncertain.
- GAAP gross margin is expected to be approximately 53 percent.
- GAAP operating expenses are expected to be between $49 million and $49.5 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income