Power Integrations (POWI) FY2017 results: revenue $432 million, up 10.8% on the year
Power Integrations Inc. (POWI) reported revenue of $432 million for fiscal 2017, the year ended 31 December 2017, up 10.8% on the year before. Net income was $28 million, down 43.5%, and diluted earnings per share $0.45. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$432 million
+10.8% on the year
FY2010FY2017
Operating margin
13.3%
12.5% a year earlier
FY2010FY2017
Net income
$28 million
-43.5% on the year
FY2010FY2017
Diluted EPS
$0.45
-45.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
432
390
344
+10.8%
Cost of revenue
218
197
171
+10.4%
Gross profit
214
192
173
+11.2%
Gross margin
49.5%
49.3%
50.4%
Research and development
68.5
62.3
57.5
+9.9%
Operating income
57.6
48.9
38.9
+17.9%
Operating margin
13.3%
12.5%
11.3%
Interest expense
n/a
n/a
0.0
Pre-tax income
60.3
50.0
39.3
+20.7%
Income tax
32.7
1.1
0.2
+3,001.5%
Effective tax rate
54.2%
2.1%
0.5%
Net income
27.6
48.9
39.1
-43.5%
Net margin
6.4%
12.5%
11.4%
Diluted EPS
$0.45
$0.82
$0.66
-45.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
82.0
97.9
92.2
-16.2%
Capital expenditure
32.5
12.2
11.4
+166.4%
Free cash flow
49.5
85.7
80.8
-42.2%
Free cash flow margin
11.5%
22.0%
23.5%
Cash from investing
-34.7
-117
-7.7
Cash from financing
-15.8
-8.4
-55.1
Depreciation and amortisation
24.5
23.5
23.5
+4.2%
Share-based compensation
24.7
20.9
14.8
+18.2%
Buybacks
9.2
6.4
53.7
+42.8%
Dividends paid
16.6
15.1
13.9
+10.5%
Diluted shares, weighted
61m
59m
59m
+3.1%
Shares outstanding at period end
60m
58m
57m
+1.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
548
503
443
+8.9%
Debt
0.0
0.0
0.0
Other liabilities
73.4
52.3
44.9
+40.5%
Total liabilities and equity
621
555
488
+11.8%
Fixed assets
112
95.3
99.4
+17.2%
Goodwill
91.8
91.8
91.8
0.0%
Intangible assets
25.4
31.5
38.2
-19.3%
Investments
189
188
83.8
+0.5%
Cash and equivalents
93.7
62.1
90.1
+50.7%
Receivables
16.8
6.5
7.8
+157.3%
Inventory
57.1
52.6
51.9
+8.6%
Other assets
35.3
27.1
24.5
+30.1%
Total assets
621
555
488
+11.8%
10-K for the year ended 31 December 2017, filed 13 February 2019: the filing.