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POWER INTEGRATIONS, INC.
CONSOLIDATED BALANCE SHEETS (in thousands) |
||||||||
| March 31, 2014 | December 31, 2013 | |||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 83,967 | $ | 92,928 | ||||
| Short-term marketable securities | 133,684 | 109,179 | ||||||
| Accounts receivable | 16,421 | 12,389 | ||||||
| Inventories | 47,934 | 42,235 | ||||||
| Deferred tax assets | 2,059 | 2,059 | ||||||
| Prepaid expenses and other current assets | 17,027 | 18,632 | ||||||
| Total current assets | 301,092 | 277,422 | ||||||
| PROPERTY AND EQUIPMENT, net | 92,142 | 90,141 | ||||||
| INTANGIBLE ASSETS, net | 38,478 | 40,334 | ||||||
| GOODWILL | 80,599 | 80,599 | ||||||
| DEFERRED TAX ASSETS | 5,686 | 9,449 | ||||||
| OTHER ASSETS | 3,332 | 3,476 | ||||||
| Total assets | $ | 521,329 | $ | 501,421 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Accounts payable | $ | 23,600 | $ | 20,772 | ||||
| Accrued payroll and related expenses | 8,046 | 8,900 | ||||||
| Taxes payable | 1,768 | 2,266 | ||||||
| Deferred taxes | 1,325 | 943 | ||||||
| Deferred income on sales to distributors | 17,844 | 15,727 | ||||||
| Other accrued liabilities | 1,698 | 1,810 | ||||||
| Total current liabilities | 54,281 | 50,418 | ||||||
| LONG-TERM LIABILITIES | ||||||||
| Income taxes payable | 2,612 | 6,885 | ||||||
| Deferred taxes | 4,991 | 5,273 | ||||||
| Other liabilities | 2,267 | 2,159 | ||||||
| Total liabilities | 64,151 | 64,735 | ||||||
| STOCKHOLDERS' EQUITY: | ||||||||
| Common stock | 30 | 30 | ||||||
| Additional paid-in capital | 234,667 | 223,660 | ||||||
| Accumulated other comprehensive loss | (315 | ) | (470 | ) | ||||
| Retained earnings | 222,796 | 213,466 | ||||||
| Total stockholders' equity | 457,178 | 436,686 | ||||||
| Total liabilities and stockholders' equity | $ | 521,329 | $ | 501,421 | ||||
Power Integrations Reports First-Quarter Financial Results
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