Power Integrations Reports Third-Quarter Financial Results

POWER INTEGRATIONS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands)
             
 
September 30, 2016 June 30, 2016 December 31, 2015
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 95,890 $ 105,343 $ 90,092
Short-term marketable securities 130,673 96,891 83,769
Accounts receivable 14,679 14,010 7,818
Inventories 49,941 46,749 51,934
Prepaid expenses and other current assets   7,372     6,478     6,790  
Total current assets   298,555     269,471     240,403  
 
PROPERTY AND EQUIPMENT, net 94,433 95,746 99,381
INTANGIBLE ASSETS, net 33,114 34,726 38,165
GOODWILL 91,849 91,849 91,849
DEFERRED TAX ASSETS 11,064 11,342 11,843
OTHER ASSETS   6,273     6,372     5,896  
Total assets $ 535,288   $ 509,506   $ 487,537  
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable $ 30,117 $ 24,367 $ 21,660
Accrued payroll and related expenses 9,011 10,463 9,327
Taxes payable 251 247 3,620
Deferred income on sales to distributors 16,334 16,888 15,101
Other accrued liabilities   3,427     2,548     2,285  
Total current liabilities   59,140     54,513     51,993  
 
LONG-TERM LIABILITIES:
Income taxes payable 2,666 2,666 2,511
Deferred tax liabilities 1,002 1,004 1,291
Other liabilities   3,422     3,315     3,123  
Total liabilities   66,230     61,498     58,918  
 
STOCKHOLDERS' EQUITY:
Common stock 28 28 28
Additional paid-in capital 162,820 151,806 145,366
Accumulated other comprehensive loss (1,885 ) (1,527 ) (1,851 )
Retained earnings   308,095     297,701     285,076  
Total stockholders' equity   469,058     448,008     428,619  
Total liabilities and stockholders' equity $ 535,288   $ 509,506   $ 487,537  
 

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