Power Integrations Reports Second-Quarter Financial Results


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


	June 30, 2015			March 31, 2015			December 31, 2014
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	75,941		$	85,637		$	60,708
Short-term marketable securities		94,944			87,560			114,575
Accounts receivable		13,212			12,631			10,186
Inventories		64,231			65,009			64,025
Deferred tax assets		38			39			39
Prepaid expenses and other current assets		9,444			11,458			16,379
Total current assets		257,810			262,334			265,912

PROPERTY AND EQUIPMENT, net		92,913			94,179			95,823
INTANGIBLE ASSETS, net		41,028			42,758			35,524
GOODWILL		91,849			91,849			80,599
DEFERRED TAX ASSETS		11,025			11,265			11,562
OTHER ASSETS		4,894			4,789			4,243
Total assets	$	499,519		$	507,174		$	493,663

LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	30,792		$	23,907		$	21,980
Accrued payroll and related expenses		9,539			8,815			9,071
Taxes payable		2,237			2,930			2,963
Deferred tax liabilities		2,085			2,187			2,193
Deferred income on sales to distributors		16,457			17,254			15,223
Other accrued liabilities		3,381			3,834			3,730
Total current liabilities		64,491			58,927			55,160

LONG-TERM LIABILITIES:
Income taxes payable		746			746			743
Deferred tax liabilities		3,928			4,059			4,272
Other liabilities		2,673			2,960			2,812
Total liabilities		71,838			66,692			62,987

STOCKHOLDERS' EQUITY:
Common stock		29			29			29
Additional paid-in capital		161,089			178,816			171,938
Accumulated other comprehensive loss		(1,167	)		(1,031	)		(1,136	)
Retained earnings		267,730			262,668			259,845
Total stockholders' equity		427,681			440,482			430,676
Total liabilities and stockholders' equity	$	499,519		$	507,174		$	493,663