WASHINGTON (dpa-AFX) - Power Integrations Inc. (POWI) reported that its first-quarter net income was $7.5 million or $0.25 per share, compared to $9.9 million or $0.33 per share in the prior year first quarter.
Non-GAAP net income for the quarter was $10.7 million or $0.36 per share, down from $12.1 million or $0.40 per share in the year-ago quarter.
Net revenues for the first quarter were $71.77 million, compared with $76.76 million in the comparable quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.27 per share on revenues of $67.26 million for the quarter. Analysts' estimates typically exclude special items.
For the second-quarter, revenues are expected to be between $78 million and $84 million. Six analysts have consensus revenue estimate of $74.43 million for the second-quarter.
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