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Dec 31, 2023
Power Integrations Q4 2023 Earnings Report
Power Integrations' Q4 2023 earnings declined due to soft demand and elevated supply-chain inventories, with revenue at $89.5 million and GAAP EPS at $0.25.
Key Takeaways
Power Integrations reported a decrease in fourth-quarter revenue to $89.5 million, a 28% drop from Q4 2022. GAAP earnings per diluted share were $0.25, compared to $0.40 in the same quarter of the previous year. The company repurchased 680 thousand shares for $47.4 million during the quarter.
Q4 revenues were $89.5 million, a 28% decrease year-over-year.
GAAP net income was $14.3 million, or $0.25 per diluted share.
Non-GAAP net income was $12.7 million, or $0.22 per diluted share.
The company repurchased 680 thousand shares for $47.4 million during the quarter.
Revenue by Segment
Forward Guidance
Power Integrations expects first-quarter revenues of approximately $90 million, plus or minus $5 million. GAAP gross margin is anticipated to be around 51.5%, and non-GAAP gross margin is expected to be approximately 52.5%. GAAP operating expenses are projected to be about $49 million, while non-GAAP operating expenses are estimated at $42.5 million.
Positive Outlook
- Revenues are expected to be $90 million plus or minus $5 million.
- GAAP gross margin is expected to be approximately 51.5 percent.
- Non-GAAP gross margin is expected to be approximately 52.5 percent.
- GAAP operating expenses are expected to be approximately $49 million.
- Non-GAAP operating expenses are expected to be approximately $42.5 million.
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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