Power Integrations Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Power Integrations Inc. (POWI) released a profit for its first quarter that advanced from the same period last year.

The company's bottom line totaled $15.89 million, or $0.53 per share. This compares with $7.23 million, or $0.25 per share, in last year's first quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $22.90 million or $0.76 per share for the period.

Analysts had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.0% to $109.66 million from $89.19 million last year.

Power Integrations Inc. earnings at a glance:

-Earnings (Q1): $22.90 Mln. vs. $12.06 Mln. last year. -EPS (Q1): $0.76 vs. $0.41 last year. -Analysts Estimate: $0.66 -Revenue (Q1): $109.66 Mln vs. $89.19 Mln last year.

-Guidance: Next quarter revenue guidance: $101 - $111 Mln