Power Integrations Reports Second-Quarter Financial Results

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


		June 30, 2017			March 31, 2017			December 31, 2016
ASSETS
	CURRENT ASSETS:
	Cash and cash equivalents	$	32,649		$	46,335		$	62,134
	Short-term marketable securities		221,346			203,753			188,323
	Accounts receivable		18,697			15,046			6,528
	Inventories		52,432			51,149			52,564
	Prepaid expenses and other current assets		16,902			16,770			8,715
	Total current assets		342,026			333,053			318,264

	PROPERTY AND EQUIPMENT, net		113,202			105,893			95,296
	INTANGIBLE ASSETS, net		28,324			29,890			31,502
	GOODWILL		91,849			91,849			91,849
	DEFERRED TAX ASSETS		19,328			19,857			11,342
	OTHER ASSETS		6,809			8,118			6,157
	Total assets	$	601,538		$	588,660		$	554,410

LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
	Accounts payable	$	30,124		$	37,478		$	29,727
	Accrued payroll and related expenses		11,639			9,146			10,756
	Taxes payable		1,072			877			729
	Other accrued liabilities		3,858			3,409			2,734
	Total current liabilities		46,693			50,910			43,946

	LONG-TERM LIABILITIES:
	Income taxes payable		2,805			2,804			2,639
	Deferred tax liabilities		615			688			820
	Other liabilities		4,422			4,115			3,921
	Total liabilities		54,535			58,517			51,326

STOCKHOLDERS' EQUITY:
	Common stock		29			29			28
	Additional paid-in capital		189,259			182,235			172,875
	Accumulated other comprehensive loss		(2,419	)		(2,514	)		(2,710	)
	Retained earnings		360,134			350,393			332,891
	Total stockholders' equity		547,003			530,143			503,084
	Total liabilities and stockholders' equity	$	601,538		$	588,660		$	554,410

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