Power Integrations Reports First-Quarter Financial Results


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


	March 31, 2017			December 31, 2016
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	46,335		$	62,134
Short-term marketable securities		203,753			188,323
Accounts receivable		15,046			6,528
Inventories		51,149			52,564
Prepaid expenses and other current assets		16,770			8,715
Total current assets		333,053			318,264

PROPERTY AND EQUIPMENT, net		105,893			95,296
INTANGIBLE ASSETS, net		29,890			31,502
GOODWILL		91,849			91,849
DEFERRED TAX ASSETS		19,857			11,342
OTHER ASSETS		8,118			6,157
Total assets	$	588,660		$	554,410

LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	37,478		$	29,727
Accrued payroll and related expenses		9,146			10,756
Taxes payable		877			729
Other accrued liabilities		3,409			2,734
Total current liabilities		50,910			43,946

LONG-TERM LIABILITIES:
Income taxes payable		2,804			2,639
Deferred tax liabilities		688			820
Other liabilities		4,115			3,921
Total liabilities		58,517			51,326

STOCKHOLDERS' EQUITY:
Common stock		29			28
Additional paid-in capital		182,235			172,875
Accumulated other comprehensive loss		(2,514	)		(2,710	)
Retained earnings		350,393			332,891
Total stockholders' equity		530,143			503,084
Total liabilities and stockholders' equity	$	588,660		$	554,410

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