Power Integrations Reports First-Quarter Financial Results


POWER INTEGRATIONS, INC. CONSOLIDATED BALANCE SHEETS (in thousands)

	March 31, 2015			December 31, 2014
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	85,637		$	60,708
Short-term marketable securities		87,560			114,575
Accounts receivable		12,631			10,186
Inventories		65,009			64,025
Deferred tax assets		39			39
Prepaid expenses and other current assets		11,458			16,379
Total current assets		262,334			265,912

PROPERTY AND EQUIPMENT, net		94,179			95,823
INTANGIBLE ASSETS, net		42,758			35,524
GOODWILL		91,849			80,599
DEFERRED TAX ASSETS		11,265			11,562
OTHER ASSETS		4,789			4,243
Total assets	$	507,174		$	493,663

LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	23,907		$	21,980
Accrued payroll and related expenses		8,815			9,071
Taxes payable		2,930			2,963
Deferred tax liabilities		2,187			2,193
Deferred income on sales to distributors		17,254			15,223
Other accrued liabilities		3,834			3,730
Total current liabilities		58,927			55,160

LONG-TERM LIABILITIES
Income taxes payable		746			743
Deferred tax liabilities		4,059			4,272
Other liabilities		2,960			2,812
Total liabilities		66,692			62,987

STOCKHOLDERS' EQUITY:
Common stock		29			29
Additional paid-in capital		178,816			171,938
Accumulated other comprehensive loss		(1,031	)		(1,136	)
Retained earnings		262,668			259,845
Total stockholders' equity		440,482			430,676
Total liabilities and stockholders' equity	$	507,174		$	493,663