Benzinga | Jul 29, 2021 04:34PM EDT

Power Integrations Sees Q3 Revenues Down 3%, Plus Or Minus 5%

Financial Outlook

The company issued the following forecast for the third quarter of 2021:

* Revenues are expected to decrease by three percent compared to the second quarter of 2021, plus or minus five percent.

* GAAP gross margin is expected to be approximately 51 percent, and non-GAAP gross margin is expected to be approximately 51.5 percent. The difference between the expected GAAP and non-GAAP gross margins is approximately equally attributable to amortization of acquisition-related intangible assets and stock-based compensation.

* GAAP operating expenses are expected to be between $47.5 million and $48 million; non-GAAP operating expenses are expected to be between $38.5 million and $39 million. Non-GAAP expenses are expected to exclude approximately $8.8 million of stock-based compensation and $0.2 million of amortization of acquisition-related intangible assets.