Power Integrations Reports Third-Quarter Financial Results

 
POWER INTEGRATIONS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands)
 
  September 30, 2017   June 30, 2017   December 31, 2016
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 50,700 $ 32,649 $ 62,134
Short-term marketable securities 213,042 221,346 188,323
Accounts receivable, net 17,192 18,697 6,528
Inventories 55,158 52,432 52,564
Prepaid expenses and other current assets   10,831     16,902     8,715  
Total current assets   346,923     342,026     318,264  
 
PROPERTY AND EQUIPMENT, net 114,855 113,202 95,296
INTANGIBLE ASSETS, net 26,871 28,324 31,502
GOODWILL 91,849 91,849 91,849
DEFERRED TAX ASSETS 19,086 19,328 11,342
OTHER ASSETS   24,899     6,809     6,157  
Total assets $ 624,483   $ 601,538   $ 554,410  
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable $ 38,474 $ 30,124 $ 29,727
Accrued payroll and related expenses 9,772 11,639 10,756
Taxes payable 1,227 1,072 729
Other accrued liabilities   4,895     3,858     2,734  
Total current liabilities   54,368     46,693     43,946  
 
LONG-TERM LIABILITIES:
Income taxes payable 2,817 2,805 2,639
Deferred tax liabilities 538 615 820
Other liabilities   4,501     4,422     3,921  
Total liabilities   62,224     54,535     51,326  
 
STOCKHOLDERS' EQUITY:
Common stock 29 29 28
Additional paid-in capital 192,074 189,259 172,875
Accumulated other comprehensive loss (2,320 ) (2,419 ) (2,710 )
Retained earnings   372,476     360,134     332,891  
Total stockholders' equity   562,259     547,003     503,084  
Total liabilities and stockholders' equity $ 624,483   $ 601,538   $ 554,410  

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