Power Integrations Inc. Q3 adjusted earnings Inline With Estimates

(RTTNews) - Power Integrations Inc. (POWI) released a profit for its third quarter that rose from last year.

The company's bottom line totaled $17.67 million, or $0.59 per share. This compares with $16.51 million, or $0.54 per share, in last year's third quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $23.17 million or $0.77 per share for the period.

Analysts had expected the company to earn $0.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.1% to $110.08 million from $111.25 million last year.

Power Integrations Inc. earnings at a glance:

-Earnings (Q3): $23.17 Mln. vs. $23.73 Mln. last year. -EPS (Q3): $0.77 vs. $0.78 last year. -Analysts Estimate: $0.77 -Revenue (Q3): $110.08 Mln vs. $111.25 Mln last year.

-Guidance: Next quarter revenue guidance: $97 Mln