Power Integrations Reports First-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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March 31, 2016
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December 31, 2015
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ASSETS
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CURRENT ASSETS:
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Cash and cash equivalents
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$ 94,735
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$ 90,092
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Short-term marketable securities
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90,419
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83,769
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Accounts receivable
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11,294
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7,818
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Inventories
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45,665
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51,934
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Prepaid expenses and other current assets
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7,295
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6,790
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Total current assets
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249,408
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240,403
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PROPERTY AND EQUIPMENT, net
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97,723
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99,381
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INTANGIBLE ASSETS, net
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36,373
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38,165
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GOODWILL
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91,849
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91,849
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DEFERRED TAX ASSETS
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11,779
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11,843
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OTHER ASSETS
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5,664
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5,896
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Total assets
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$ 492,796
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$ 487,537
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LIABILITIES AND STOCKHOLDERS’ EQUITY
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CURRENT LIABILITIES:
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Accounts payable
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$ 19,862
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$ 21,660
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Accrued payroll and related expenses
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7,986
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9,327
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Taxes payable
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3,326
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3,620
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Deferred income on sales to distributors
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17,102
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15,101
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Other accrued liabilities
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2,217
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2,285
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Total current liabilities
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50,493
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51,993
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LONG-TERM LIABILITIES:
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Income taxes payable
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2,695
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2,511
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Deferred tax liabilities
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1,141
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1,291
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Other liabilities
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3,246
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3,123
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Total liabilities
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57,575
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58,918
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STOCKHOLDERS' EQUITY:
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Common stock
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28
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28
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Additional paid-in capital
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146,655
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145,366
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Accumulated other comprehensive loss
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(1,652)
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(1,851)
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Retained earnings
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290,190
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285,076
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Total stockholders' equity
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435,221
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428,619
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Total liabilities and stockholders' equity
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$ 492,796
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$ 487,537
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