Power Integrations today announced financial results for the quarter ended September 30, 2019. Net revenues for the third quarter were $114.2 million, an increase of 11 percent from the prior quarter and four percent from the third quarter of 2018. Net income was $17.1 million or $0.57 per diluted share, compared to $0.37 per diluted share in the prior quarter and $0.59 per diluted share in the third quarter of 2018. Cash flow from operations was $21.8 million for the quarter.
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Power Integrations will release its third-quarter financial results after market hours on Thursday, October 24, 2019. The company will conduct a conference call that day beginning at 1:30 p.m. Pacific time. Members of the investment community can join the call by dialing 1-647-689-4187. Live and archived audio webcast of the conference call will be available on the company’s website at http://investors.power.com
Power Integrations today announced the delivery of its one-millionth InnoSwitch™3 switcher IC featuring the company’s PowiGaN™ gallium-nitride technology. In an event at the Shenzhen headquarters of Anker Innovations, Power Integrations CEO Balu Balakrishnan presented the one-millionth GaN-based IC to Anker CEO Steven Yang.