Power Integrations (POWI) FY2016 results: revenue $390 million, up 13.3% on the year
Power Integrations Inc. (POWI) reported revenue of $390 million for fiscal 2016, the year ended 31 December 2016, up 13.3% on the year before. Net income was $49 million, up 24.9%, and diluted earnings per share $0.82. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$390 million
+13.3% on the year
FY2009FY2016
Operating margin
12.5%
11.3% a year earlier
FY2009FY2016
Net income
$49 million
+24.9% on the year
FY2009FY2016
Diluted EPS
$0.82
+25.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
390
344
349
+13.3%
Cost of revenue
197
171
159
+15.3%
Gross profit
192
173
190
+10.8%
Gross margin
49.3%
50.4%
54.3%
Research and development
62.3
57.5
55.0
+8.3%
Operating income
48.9
38.9
55.8
+25.6%
Operating margin
12.5%
11.3%
16.0%
Interest expense
n/a
0.0
0.0
Pre-tax income
50.0
39.3
56.8
+27.0%
Income tax
1.1
0.2
-2.7
+488.8%
Effective tax rate
2.1%
0.5%
-4.8%
Net income
48.9
39.1
59.5
+24.9%
Net margin
12.5%
11.4%
17.1%
Diluted EPS
$0.82
$0.66
$0.96
+25.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
97.9
92.2
85.6
+6.2%
Capital expenditure
12.2
11.4
23.1
+7.4%
Free cash flow
85.7
80.8
62.5
+6.0%
Free cash flow margin
22.0%
23.5%
17.9%
Cash from investing
-117
-7.7
-38.1
Cash from financing
-8.4
-55.1
-79.6
Depreciation and amortisation
23.5
23.5
22.0
-0.1%
Share-based compensation
20.9
14.8
14.3
+41.4%
Buybacks
6.4
53.7
80.8
-88.0%
Dividends paid
15.1
13.9
13.2
+8.2%
Diluted shares, weighted
59m
59m
62m
-0.3%
Shares outstanding at period end
58m
57m
58m
+2.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
503
443
431
+13.7%
Debt
0.0
0.0
0.0
Other liabilities
52.3
44.9
63.0
+16.3%
Total liabilities and equity
555
488
494
+13.9%
Fixed assets
95.3
99.4
95.8
-4.1%
Goodwill
91.8
91.8
80.6
0.0%
Intangible assets
31.5
38.2
35.5
-17.5%
Investments
188
83.8
115
+124.8%
Cash and equivalents
62.1
90.1
60.7
-31.0%
Receivables
6.5
7.8
10.2
-16.5%
Inventory
52.6
51.9
64.0
+1.2%
Other assets
27.1
24.5
32.2
+10.7%
Total assets
555
488
494
+13.9%
10-K for the year ended 31 December 2016, filed 13 February 2019: the filing.