Power Integrations Inc. Q3 Profit Falls 18%

(RTTNews) - Power Integrations Inc. (POWI) released earnings for third quarter that lost ground from last year.

The company said its profit fell to $16.22 million, or $0.55 per share. This was lower than $19.85 million, or $0.65 per share, in last year's third quarter.

Analysts had expected the company to earn $0.51 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.4% to $88.88 million. This was down from $90.14 million last year.

Power Integrations Inc. earnings at a glance:

-Earnings (Q3): $16.22 Mln. vs. $19.85 Mln. last year. -Earnings Decline (Y-o-Y): -18.3% -EPS (Q3): $0.55 vs. $0.65 last year. -EPS Decline (Y-o-Y): -15.4% -Analysts Estimate: $0.51 -Revenue (Q3): $88.88 Mln vs. $90.14 Mln last year. -Revenue Change (Y-o-Y): -1.4%

-Guidance: Next quarter revenue guidance: $89 Mln