Power Integrations reports Q1 EPS 25c, consensus 23c

Reports Q1 revenue $108.3M, consensus $106.7M. Power Integrations (POWI) CEO Jen Lloyd commented: “Q1 was a good quarter for Power Integrations as we saw improved market demand while remaining focused on delivering innovative solutions based on our customers’ needs. Our industrial revenue grew 23 percent year-over-year driven by a breadth of applications including renewable energy, battery storage, home automation and automotive. The momentum in our industrial business reflects our strategic focus on markets where our high-voltage technologies help customers solve the most pressing challenges in power. We continue to see confirmation that EVs and AI data centers not only need innovative solutions like our PowiGaN(TM) technology but also-by increasing pressure on the power grid-drive growth in renewables, battery storage and DC transmission, where our gate-driver products excel. We are orienting our strategy and our R&D pipeline around these highly attractive opportunities.”