Power Integrations Reports Fourth-Quarter Financial Results


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


	December 31, 2018			September 30, 2018			December 31, 2017
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	134,137		$	148,551		$	93,655
Short-term marketable securities		94,451			99,766			189,236
Accounts receivable, net		11,072			13,742			16,798
Inventories		80,857			74,201			57,087
Prepaid expenses and other current assets		11,915			12,573			7,758
Total current assets		332,432			348,833			364,534

PROPERTY AND EQUIPMENT, net		114,117			113,841			111,705
INTANGIBLE ASSETS, net		21,152			22,452			25,419
GOODWILL		91,849			91,849			91,849
DEFERRED TAX ASSETS		6,906			3,673			2,364
OTHER ASSETS		22,241			23,779			25,203
Total assets	$	588,697		$	604,427		$	621,074

LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	31,552		$	34,469		$	33,211
Accrued payroll and related expenses		12,131			9,706			12,064
Taxes payable		933			1,311			1,767
Other accrued liabilities		3,750			5,019			4,009
Total current liabilities		48,366			50,505			51,051

LONG-TERM LIABILITIES:
Income taxes payable		8,652			17,952			18,259
Deferred tax liabilities		216			52			138
Other liabilities		4,391			4,786			3,944
Total liabilities		61,625			73,295			73,392

STOCKHOLDERS' EQUITY:
Common stock		28			28			29
Additional paid-in capital		126,164			148,696			198,384
Accumulated other comprehensive loss		(1,689	)		(2,076	)		(2,139	)
Retained earnings		402,569			384,484			351,408
Total stockholders' equity		527,072			531,132			547,682
Total liabilities and stockholders' equity	$	588,697		$	604,427		$	621,074

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