Power Integrations Reports Record Quarterly Revenues and Earnings

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


		September 30, 2013			June 30, 2013			December 31, 2012
ASSETS
	CURRENT ASSETS:
	Cash and cash equivalents	$	78,118		$	85,426		$	63,394
	Short-term marketable securities		102,051			59,630			31,766
	Accounts receivable		15,101			15,772			7,326
	Inventories		40,212			43,199			44,625
	Deferred tax assets		344			344			352
	Prepaid expenses and other current assets		15,557			12,097			17,401
	Total current assets		251,383			216,468			164,864

	PROPERTY AND EQUIPMENT, net		90,217			89,743			89,724
	INTANGIBLE ASSETS, net		42,212			44,054			47,738
	GOODWILL		80,599			80,599			80,599
	DEFERRED TAX ASSETS		15,263			14,425			11,532
	OTHER ASSETS		3,965			4,608			4,673
	Total assets	$	483,639		$	449,897		$	399,130

LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
	Accounts payable	$	20,267		$	21,347		$	16,452
	Accrued payroll and related expenses		8,157			7,681			6,720
	Taxes payable		2,128			1,476			1,213
	Deferred taxes		885			748			1,193
	Deferred income on sales to distributors		16,861			15,035			11,550
	Other accrued liabilities		2,661			2,650			3,439
	Total current liabilities		50,959			48,937			40,567

	LONG-TERM LIABILITIES
	Income taxes payable		8,916			8,665			7,937
	Deferred taxes		7,404			7,646			8,179
	Pension liability		1,456			1,366			1,398
	Total liabilities		68,735			66,614			58,081

STOCKHOLDERS' EQUITY:
	Common stock		30			29			28
	Additional paid-in capital		215,404			198,375			175,668
	Accumulated other comprehensive loss		(358	)		(687	)		(293	)
	Retained earnings		199,828			185,566			165,646
	Total stockholders' equity		414,904			383,283			341,049
	Total liabilities and stockholders' equity	$	483,639		$	449,897		$	399,130