Power Integrations Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Power Integrations Inc. (POWI) revealed earnings for its third quarter that increased from last year.

The company's bottom line came in at $42.03 million, or $0.69 per share. This compares with $14.82 million, or $0.24 per share, in last year's third quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $51.85 million or $0.84 per share for the period.

Analysts had expected the company to earn $0.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 45.9% to $176.78 million from $121.13 million last year.

Power Integrations Inc. earnings at a glance:

-Earnings (Q3): $51.85 Mln. vs. $24.22 Mln. last year. -EPS (Q3): $0.84 vs. $0.40 last year. -Analysts Estimate: $0.78 -Revenue (Q3): $176.78 Mln vs. $121.13 Mln last year.

-Guidance: Next quarter revenue guidance: $165 - $175 Mln