Power Integrations today announced financial results for the quarter ended June 30, 2018. Net revenues for the second quarter were $109.5 million, an increase of six percent from the prior quarter and an increase of two percent from the second quarter of 2017. Net income for the quarter was $15.4 million or $0.51 per diluted share, compared to net income of $0.46 per diluted share in the prior quarter and $0.46 per diluted share in the second quarter of 2017. Cash flow from operations was $26.7 million for the quarter.
Commented Balu Balakrishnan, president and CEO of Power Integrations: “Revenues and earnings increased significantly compared to the prior quarter, and we generated strong cash flow while returning nearly $35 million to stockholders. While some customers have begun to express caution in light of global trade issues, we expect third-quarter sequential revenue growth consistent with recent seasonality."
Learn more about today's announcement here.