si 20 Company Performance
Date: Thursday , June 01, 2006
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.”
“We had another good quarter in terms of design wins, featuring several high-volume programs for cellphone chargers, DVD players, desktop PCs and other applications, and numerous designs to replace linear power supplies,” Balakrishnan says.
NIIT Technologies Ltd.
NIIT Technologies Ltd. is a global IT solutions provider servicing customers in Asia Pacific, Europe, India, Japan and the U.S. It is part of the NIIT group that was founded in 1981 and is one of the one of world’s largest computer training institutes.
The New Delhi based company provides services in application development and management in legacy, client-server, Web and wireless technologies, integration solutions, data warehousing solutions, testing services, legacy applications reengineering, package services and managed services. NIIT Technologies focuses on well-defined industry verticals including Finance, Transport, Retail and Manufacturing.
NIIT Technologies has alliances with global IT majors including IBM, Microsoft, SAP, Siebel and Sun. As part of its inorganic growth strategy NIIT has made significant acquisitions. Osprey, U.S., a specialist in SAP solutions, DEI, an Insurance industry solutions provider, AD Solutions, a company with a strong presence in Germany, Austria and Switzerland. At the end of second quarter, NIIT Technology reported 2.5 percent drop in net profit to $3.42 million from $ 3.52 million clocked during the corresponding period previous year.
During the quarter, revenues jumped 7.6 percent to $33.4 million from $31.13 million the year-ago period. The operating margin stood at 18 percent.
“In addition to achieving revenues and profit growth of eight per cent quarter-on-quarter, the company bagged fresh orders of $34 million,” Arvind Thakur, CEO of NIIT Technologies, said.