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