Power Integrations (POWI) FY2015 results: revenue $344 million, down 1.4% on the year
Power Integrations Inc. (POWI) reported revenue of $344 million for fiscal 2015, the year ended 31 December 2015, down 1.4% on the year before. Net income was $39 million, down 34.3%, and diluted earnings per share $0.66. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2016.
Revenue
$344 million
-1.4% on the year
FY2008FY2015
Operating margin
11.3%
16.0% a year earlier
FY2008FY2015
Net income
$39 million
-34.3% on the year
FY2008FY2015
Diluted EPS
$0.66
-31.6% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
344
349
347
-1.4%
Cost of revenue
171
159
164
+7.6%
Gross profit
173
190
183
-8.5%
Gross margin
50.4%
54.3%
52.8%
Research and development
57.5
55.0
51.7
+4.7%
Operating income
38.9
55.8
54.1
-30.3%
Operating margin
11.3%
16.0%
15.6%
Interest expense
0.0
0.0
0.0
Pre-tax income
39.3
56.8
55.4
-30.8%
Income tax
0.2
-2.7
-1.8
Effective tax rate
0.5%
-4.8%
-3.3%
Net income
39.1
59.5
57.3
-34.3%
Net margin
11.4%
17.1%
16.5%
Diluted EPS
$0.66
$0.96
$0.94
-31.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
92.2
85.6
98.7
+7.7%
Capital expenditure
11.4
23.1
14.0
-50.8%
Free cash flow
80.8
62.5
84.7
+29.3%
Free cash flow margin
23.5%
17.9%
24.4%
Cash from investing
-7.7
-38.1
-90.7
Cash from financing
-55.1
-79.6
21.5
Depreciation and amortisation
23.5
22.0
23.5
+7.0%
Share-based compensation
14.8
14.3
16.5
+3.4%
Buybacks
53.7
80.8
0.0
-33.5%
Dividends paid
13.9
13.2
9.4
+5.7%
Dividend per share
n/a
n/a
$0.04
Diluted shares, weighted
59m
62m
61m
-3.7%
Shares outstanding at period end
57m
58m
60m
-1.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
443
431
437
+2.8%
Debt
0.0
0.0
0.0
Other liabilities
44.9
63.0
64.7
-28.6%
Total liabilities and equity
488
494
501
-1.2%
Fixed assets
99.4
95.8
90.1
+3.7%
Goodwill
91.8
80.6
80.6
+14.0%
Intangible assets
38.2
35.5
40.3
+7.4%
Investments
83.8
115
109
-26.9%
Cash and equivalents
90.1
60.7
92.9
+48.4%
Receivables
7.8
10.2
12.4
-23.2%
Inventory
51.9
64.0
42.2
-18.9%
Other assets
24.5
32.2
33.6
-23.9%
Total assets
488
494
501
-1.2%
10-K for the year ended 31 December 2015, filed 11 February 2016: the filing.