Power Integrations (POWI) FY2018 results: revenue $416 million, down 3.7% on the year
Power Integrations Inc. (POWI) reported revenue of $416 million for fiscal 2018, the year ended 31 December 2018, down 3.7% on the year before. Net income was $70 million, up 153.5%, and diluted earnings per share $1.16. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$416 million
-3.7% on the year
FY2011FY2018
Operating margin
13.4%
13.3% a year earlier
FY2011FY2018
Net income
$70 million
+153.5% on the year
FY2011FY2018
Diluted EPS
$1.16
+157.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
416
432
390
-3.7%
Cost of revenue
201
218
197
-7.8%
Gross profit
215
214
192
+0.5%
Gross margin
51.6%
49.5%
49.3%
Research and development
70.6
68.5
62.3
+3.0%
Operating income
55.6
57.6
48.9
-3.5%
Operating margin
13.4%
13.3%
12.5%
Pre-tax income
59.8
60.3
50.0
-0.9%
Income tax
-10.2
32.7
1.1
Effective tax rate
-17.1%
54.2%
2.1%
Net income
70.0
27.6
48.9
+153.5%
Net margin
16.8%
6.4%
12.5%
Diluted EPS
$1.16
$0.45
$0.82
+157.8%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
84.0
82.0
97.9
+2.3%
Capital expenditure
24.7
32.5
12.2
-24.1%
Free cash flow
59.3
49.5
85.7
+19.7%
Free cash flow margin
14.3%
11.5%
22.0%
Cash from investing
69.1
-34.7
-117
Cash from financing
-113
-15.8
-8.4
Depreciation and amortisation
24.2
24.5
23.5
-1.1%
Share-based compensation
21.6
24.7
20.9
-12.6%
Buybacks
103
9.2
6.4
+1,022.7%
Dividends paid
18.8
16.6
15.1
+13.2%
Diluted shares, weighted
60m
61m
59m
-1.3%
Shares outstanding at period end
58m
60m
58m
-3.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
527
548
503
-3.8%
Debt
0.0
0.0
0.0
Other liabilities
61.6
73.4
52.3
-16.0%
Total liabilities and equity
589
621
555
-5.2%
Fixed assets
114
112
95.3
+2.2%
Goodwill
91.8
91.8
91.8
0.0%
Intangible assets
21.2
25.4
31.5
-16.8%
Investments
94.5
189
188
-50.1%
Cash and equivalents
134
93.7
62.1
+43.2%
Receivables
11.1
16.8
6.5
-34.1%
Inventory
80.9
57.1
52.6
+41.6%
Other assets
41.1
35.3
27.1
+16.2%
Total assets
589
621
555
-5.2%
10-K for the year ended 31 December 2018, filed 13 February 2019: the filing.