RTTNews | Jul 30, 2020 05:26PM EDT

17:25 Thursday, July 30, 2020 (RTTNews.com) - Power Integrations Inc. (POWI) announced a profit for its second quarter that advanced from last year.

The company's profit came in at $13.19 million, or $0.44 per share. This compares with $10.85 million, or $0.37 per share, in last year's second quarter.

Excluding items, Power Integrations Inc. reported adjusted earnings of $19.93 million or $0.66 per share for the period.

Analysts had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.8% to $106.83 million from $102.87 million last year.

Power Integrations Inc. earnings at a glance:

-Earnings (Q2): $19.93 Mln. vs. $16.69 Mln. last year.-EPS (Q2): $0.66 vs. $0.56 last year.-Analysts Estimate: $0.64-Revenue (Q2): $106.83 Mln vs. $102.87 Mln last year.

-Guidance:Next quarter revenue guidance: $110 - $120 Mln

Read the original article on RTTNews ( https://www.rttnews.com/3116554/power-integrations-inc-q2-adjusted-earnings-beat-estimates.aspx)

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