Power Integrations Reports Fourth-Quarter Financial Results



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


		December 31, 2015			September 30, 2015			December 31, 2014
ASSETS
	CURRENT ASSETS:
	Cash and cash equivalents	$	90,092		$	59,735		$	60,708
	Short-term marketable securities		83,769			91,222			114,575
	Accounts receivable		7,818			11,061			10,186
	Inventories		51,934			55,439			64,025
	Deferred tax assets		-			75			39
	Prepaid expenses and other current assets		6,790			5,780			16,379
	Total current assets		240,403			223,312			265,912

	PROPERTY AND EQUIPMENT, net		99,381			102,223			95,823
	INTANGIBLE ASSETS, net		38,165			39,957			35,524
	GOODWILL		91,849			91,849			80,599
	DEFERRED TAX ASSETS		11,843			10,647			11,562
	OTHER ASSETS		5,896			5,502			4,243
	Total assets	$	487,537		$	473,490		$	493,663

LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
	Accounts payable	$	21,660		$	23,370		$	21,980
	Accrued payroll and related expenses		9,327			8,203			9,071
	Taxes payable		3,620			2,022			2,963
	Deferred tax liabilities		-			1,985			2,193
	Deferred income on sales to distributors		15,101			16,464			15,223
	Other accrued liabilities		2,285			3,182			3,730
	Total current liabilities		51,993			55,226			55,160

	LONG-TERM LIABILITIES:
	Income taxes payable		2,511			746			743
	Deferred tax liabilities		1,291			3,752			4,272
	Other liabilities		3,123			2,569			2,812
	Total liabilities		58,918			62,293			62,987

STOCKHOLDERS' EQUITY:
	Common stock		28			28			29
	Additional paid-in capital		145,366			136,422			171,938
	Accumulated other comprehensive loss		(1,851	)		(1,043	)		(1,136	)
	Retained earnings		285,076			275,790			259,845
	Total stockholders' equity		428,619			411,197			430,676
	Total liabilities and stockholders' equity	$	487,537		$	473,490		$	493,663

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