Power Integrations posted Q2 revenue of $118.9 million, up 10% from Q1 and up 3% from a year earlier.
GAAP net income rose to $9.8 million, or $0.17 per diluted share, from $0.06 per share in Q1.
Non-GAAP net income was $20.9 million, or $0.37 per diluted share, versus $0.25 per share in Q1.
Commentary and outlook
CEO Jen Lloyd cited industrial-market growth, improved profitability, and lower inventories; highlighted new 2,200 V PowiGaN technology for long-term roadmaps.
Q3 revenue outlook is $122 million to $130 million; GAAP gross margin seen at 53.3%–54.4%.
POWI•
