| POWER INTEGRATIONS, INC. | ||||||||||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||||||||||
| (in thousands) | ||||||||||||||||
|
September 30, 2014 |
June 30, 2014 |
December 31, 2013 |
||||||||||||||
| ASSETS | ||||||||||||||||
| CURRENT ASSETS: | ||||||||||||||||
| Cash and cash equivalents | $ | 60,720 | $ | 79,060 | $ | 92,928 | ||||||||||
| Short-term marketable securities | 153,144 | 133,354 | 109,179 | |||||||||||||
| Accounts receivable | 10,381 | 16,443 | 12,389 | |||||||||||||
| Inventories | 56,958 | 51,269 | 42,235 | |||||||||||||
| Deferred tax assets | 2,103 | 2,011 | 2,059 | |||||||||||||
| Prepaid expenses and other current assets | 8,773 | 13,590 | 18,632 | |||||||||||||
| Total current assets | 292,079 | 295,727 | 277,422 | |||||||||||||
| PROPERTY AND EQUIPMENT, net | 96,506 | 91,368 | 90,141 | |||||||||||||
| INTANGIBLE ASSETS, net | 36,873 | 36,960 | 40,334 | |||||||||||||
| GOODWILL | 80,599 | 80,599 | 80,599 | |||||||||||||
| DEFERRED TAX ASSETS | 9,472 | 8,904 | 9,449 | |||||||||||||
| OTHER ASSETS | 3,887 | 4,031 | 3,476 | |||||||||||||
| Total assets | $ | 519,416 | $ | 517,589 | $ | 501,421 | ||||||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||||
| CURRENT LIABILITIES: | ||||||||||||||||
| Accounts payable | $ | 24,777 | $ | 22,802 | $ | 20,772 | ||||||||||
| Accrued payroll and related expenses | 8,834 | 8,786 | 8,900 | |||||||||||||
| Taxes payable | 2,753 | 2,054 | 2,266 | |||||||||||||
| Deferred taxes | 1,103 | 1,110 | 943 | |||||||||||||
| Deferred income on sales to distributors | 18,744 | 19,128 | 15,727 | |||||||||||||
| Other accrued liabilities | 2,224 | 1,701 | 1,810 | |||||||||||||
| Total current liabilities | 58,435 | 55,581 | 50,418 | |||||||||||||
| LONG-TERM LIABILITIES | ||||||||||||||||
| Income taxes payable | 2,722 | 2,397 | 6,885 | |||||||||||||
| Deferred taxes | 4,397 | 4,647 | 5,273 | |||||||||||||
| Other liabilities | 2,229 | 2,301 | 2,159 | |||||||||||||
| Total liabilities | 67,783 | 64,926 | 64,735 | |||||||||||||
| STOCKHOLDERS' EQUITY: | ||||||||||||||||
| Common stock | 29 | 30 | 30 | |||||||||||||
| Additional paid-in capital | 203,076 | 216,337 | 223,660 | |||||||||||||
| Accumulated other comprehensive loss | (474 | ) | (190 | ) | (470 | ) | ||||||||||
| Retained earnings | 249,002 | 236,486 | 213,466 | |||||||||||||
| Total stockholders' equity | 451,633 | 452,663 | 436,686 | |||||||||||||
| Total liabilities and stockholders' equity | $ | 519,416 | $ | 517,589 | $ | 501,421 | ||||||||||
Power Integrations Reports Third-Quarter Financial Results
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