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