Power Integrations (NASDAQ:POWI) Reports Strong Fourth-Quarter and Full-Year Financial Results

Power Integrations, Inc., a leading semiconductor technology company specializing in high-voltage power conversion, recently released its financial results for the fourth quarter and the full year ending December 31, 2024. According to the report, the company experienced a significant increase in quarterly revenues, showing an 18 percent growth year-over-year. Quarterly revenues reached $105.2 million, with GAAP earnings amounting to $0.16 per diluted share. Non-GAAP earnings were reported at $0.30 per diluted share for the same quarter.

Despite a nine percent decrease from the previous quarter, the fourth-quarter revenues exhibited notable growth compared to the same period in 2023. The company’s GAAP net income for the quarter stood at $9.1 million, reflecting a positive trajectory. In addition to GAAP results, Power Integrations provided non-GAAP figures that exclude stock-based compensation and other related items. Non-GAAP net income for the fourth quarter of 2024 was $17.2 million or $0.30 per diluted share, showcasing a notable improvement compared to the same quarter the previous year.

Commenting on the results, Balu Balakrishnan, the chairman and CEO of Power Integrations, expressed optimism about the company’s performance. He highlighted that the company anticipates further growth in the first quarter of 2025. Balakrishnan emphasized growth expectations across various end-markets, including renewable energy, high-voltage DC transmission, metering, automotive, and appliances.

Besides the financial outcomes, Power Integrations declared a dividend of $0.21 per share on December 31, 2024, with another dividend of the same amount set to be paid on March 31, 2025, to stockholders of record as of February 28, 2025. The company also repurchased shares amounting to $1.9 million during the fourth quarter, indicating continued confidence in its financial position.

Looking ahead, the company provided a financial outlook for the first quarter of 2025. Power Integrations anticipates flat revenues compared to the fourth quarter of 2024, plus or minus five percent. Additionally, GAAP and non-GAAP gross margins are expected to be within a specific range, reflecting the company’s commitment to operational efficiency and financial stability.

A conference call has been scheduled for today at 1:30 p.m. Pacific Time, providing investors with an opportunity to gain further insights into the company’s financial performance and future prospects. For those interested, a live webcast of the call will be available on Power Integrations’ investor section webpage.

Power Integrations focuses on enabling renewable energy generation and efficient power consumption in various applications. The incorporation of PowiGaN™ technology is expected to drive significant growth in high-voltage power conversion applications throughout the year.

The financial results demonstrate Power Integrations’ resilience and continued progress despite various market challenges. The company’s strategic focus on innovation and industry diversification positions it well for future growth and success in the rapidly evolving semiconductor market.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Power Integrations’s 8K filing here.

Power Integrations Company Profile

Power Integrations, Inc designs, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion worldwide. The company provides a range of alternating current to direct current power conversion products that address power supply ranging from less than one watt of output to approximately 500 watts of output for mobile-device chargers, consumer appliances, utility meters, LCD monitors, main and standby power supplies for desktop computers and TVs, LED lighting, and various other consumer and industrial applications, as well as power conversion in high-power applications comprising industrial motors, solar and wind-power systems, electric vehicles, and high-voltage DC transmission systems.