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June - 2006 - issue > si 20 Company Performance

si 20 Company Performance

si Team
Thursday, June 1, 2006
si Team
Power Integrations

Power Integrations, Inc. designs, develops, manufactures and markets, high-voltage, analog integrated circuits (ICs) primarily for use in electronic power supplies, also known as switched-mode power supplies or switchers. The vast majority of the company’s ICs are used in alternating current to direct current (AC-DC) switches, though Power Integrations is also targeting certain DC-DC applications.

The San Jose, CA based company reported net revenues of $35.3 million for the quarter, down from $37.9 million in the prior quarter. The decline was primarily attributable to lower revenues from the computer and communications markets, partially offset by growth in consumer revenues. Computer revenues were lower due primarily to a decrease in shipments related to desktop PCs.

Communications revenues declined primarily as a result of short-term product transitions at the company’s power-supply customers.

“We believe that first-quarter revenues were down largely as a result of quarter-to-quarter fluctuations and product transitions,” said Balu Balakrishnan, president and CEO of Power Integrations. “We are anticipating a stronger second quarter, as bookings strengthened considerably in the latter half of March and we began the second quarter with our highest opening backlog in more than three years.”

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