Power Integrations today announced financial results for the quarter ended September 30, 2013. Net revenues for the quarter were $91.7 million, up four percent from the prior quarter and 18 percent from the third quarter of 2012. GAAP net income for the quarter was $16.7 million or $0.54 per diluted share, compared with income of $0.45 per diluted share in the prior quarter and a net loss of $1.54 per share in the third quarter of 2012. GAAP gross margin for the third quarter was 53.2 percent; operating margin was 18.1 percent.
Commented Balu Balakrishnan, president and CEO of Power Integrations: “Our third-quarter results featured record revenues, with sequential growth across all four end-market categories. Compared to a year ago, sales were up 18 percent, with all four end markets contributing double-digit growth. We also reported record earnings and strong cash flow in the third quarter, fueled by the continued expansion of our gross-profit margins.
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