Power Integrations Reports Second-Quarter Financial Results

POWER INTEGRATIONS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands)
       
 
June 30, 2017 March 31, 2017 December 31, 2016
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 32,649 $ 46,335 $ 62,134
Short-term marketable securities 221,346 203,753 188,323
Accounts receivable 18,697 15,046 6,528
Inventories 52,432 51,149 52,564
Prepaid expenses and other current assets   16,902     16,770     8,715  
Total current assets   342,026     333,053     318,264  
 
PROPERTY AND EQUIPMENT, net 113,202 105,893 95,296
INTANGIBLE ASSETS, net 28,324 29,890 31,502
GOODWILL 91,849 91,849 91,849
DEFERRED TAX ASSETS 19,328 19,857 11,342
OTHER ASSETS   6,809     8,118     6,157  
Total assets $ 601,538   $ 588,660   $ 554,410  
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable $ 30,124 $ 37,478 $ 29,727
Accrued payroll and related expenses 11,639 9,146 10,756
Taxes payable 1,072 877 729
Other accrued liabilities   3,858     3,409     2,734  
Total current liabilities   46,693     50,910     43,946  
 
LONG-TERM LIABILITIES:
Income taxes payable 2,805 2,804 2,639
Deferred tax liabilities 615 688 820
Other liabilities   4,422     4,115     3,921  
Total liabilities   54,535     58,517     51,326  
 
STOCKHOLDERS' EQUITY:
Common stock 29 29 28
Additional paid-in capital 189,259 182,235 172,875
Accumulated other comprehensive loss (2,419 ) (2,514 ) (2,710 )
Retained earnings   360,134     350,393     332,891  
Total stockholders' equity   547,003     530,143     503,084  
Total liabilities and stockholders' equity $ 601,538   $ 588,660   $ 554,410  

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