Financial Performance - Net revenues for the three months ended March 31, 2025, were 105,529thousand,representinga15.191,688 thousand in the same period of 2024[12] - Gross profit for the same period was 58,235thousand,upfrom47,780 thousand, indicating a gross margin improvement[12] - Net income increased to 8,790thousand,comparedto3,954 thousand in the prior year, reflecting a 122.5% year-over-year growth[12] - Earnings per share (EPS) for the quarter were 0.15,comparedto0.07 in the same quarter of 2024, marking a 114.3% increase[12] - The Company reported a total comprehensive income of 9,630thousandforthequarter,comparedto2,857 thousand in the prior year[15] - For the three months ended March 31, 2025, net revenues were 105,529,000,a1591,688,000 in the same period of 2024[83] - Net income for the three months ended March 31, 2025, was 8,790,000,comparedto3,954,000 for the same period in 2024, representing a 122% increase[83] - Basic earnings per share increased to 0.15forthethreemonthsendedMarch31,2025,upfrom0.07 in 2024[71] Cash Flow and Equity - Cash flows from operating activities were 26,386thousand,significantlyhigherthan15,905 thousand in the prior year[20] - Total stockholders' equity at the end of the period was 735,815thousand,slightlydownfrom738,178 thousand a year earlier[18] - The company ended the quarter with cash and cash equivalents of 49,614thousand,downfrom56,443 thousand at the end of the same quarter in 2024[20] Stock Repurchase and Dividends - The company repurchased common stock worth 23,098thousandduringthequarter,comparedto14,641 thousand in the same period of 2024[20] - The Company repurchased approximately 404,000 shares of common stock for 23.1millionduringthethreemonthsendedMarch31,2025,leaving25.0 million remaining under the repurchase authorization[65] - The Company declared dividends of 0.20persharetobepaidtostockholdersofrecordattheendofeachquarterin2024[66]−TheCompanydeclaredaquarterlycashdividendof0.21 per share for the fourth quarter of 2024, an increase from the previous 0.20pershare[67]ResearchandDevelopment−Researchanddevelopmentexpensesincreasedto24,095 thousand from 23,225thousand,reflectingongoinginvestmentininnovation[12]−ResearchanddevelopmentexpensesforthethreemonthsendedMarch31,2025,were21,845,000, up from 20,800,000in2024,reflectinga575.2 million for the three months ended March 31, 2025, up from 66.4millionin2024,representingagrowthof13.2239.682 million as of March 31, 2025, up from 249.023millionasofDecember31,2024,showingadeclineofabout3.7555,000 as of March 31, 2025, from 436,000asofDecember31,2024,representingareductionofapproximately87.398.7 million, an increase of 35.4% from 6.4millioninthesameperiodof2024[45][47]−TheCompany′seffectivetaxrateforthethreemonthsendedMarch31,2025,was11.13,167,000 for the three months ended March 31, 2025, compared to 3,502,000in2024[83]AcquisitionsandFutureProjections−TheCompanycompletedtheacquisitionofOdysseySemiconductorTechnologiesfor9.52 million in cash on July 1, 2024, to enhance its GaN technology development[90] - The estimated future amortization expense for finite-lived intangible assets is projected to be $1.677 million for the fiscal year 2025[34] - The Company is currently evaluating the impact of ASU 2024-03 on its financial statement disclosures, which will require additional disclosures starting in 2026[27] - The Company expects the fair value of marketable securities to recover as they reach maturity, as issuers continue to make timely interest payments[44]
Power Integrations(POWI)2025-05-12 20:07