Power Integrations, Inc. (NASDAQ:POWI) Q3 2024 Earnings Conference Call November 6, 2024 4:30 PM ET
Company Participants
Joe Shiffler – Director of IR
Balu Balakrishnan – Chairman and CEO
Sandeep Nayyar – CFO
Conference Call Participants
David Williams – Benchmark
Tore Svanberg – Stifel Nicolaus
Christopher Rolland – Susquehanna
Operator
Good day, everyone and welcome to today’s Power Integrations Q3 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode [Operator Instructions].
Please note this call is being recorded and I will be standing by should you need assistance. It is my pleasure to turn today’s program over to Joe Shiffler, Director of Investor Relations.
Joe Shiffler
Thank you, Britney. Good afternoon, everyone. Thanks for joining us. With me on the call today are Balu Balakrishnan, Chairman and CEO of Power Integrations; and Sandeep Nayyar, our Chief Financial Officer.
During this call, we will refer to financial measures not calculated according to GAAP. Non-GAAP measures exclude stock-based compensation expenses, amortization of acquisition related intangible assets and the tax effects of these items. A reconciliation of non-GAAP measures to our GAAP results is included in today’s press release.
Our discussion today, including the Q&A session, will include forward-looking statements denoted by words like will, would, believe, should, expect, outlook, forecast, estimate, anticipate and similar expressions that look toward future events or performance. Such statements are subject to risks and uncertainties that may cause actual results to different materially from those projected or implied. Such risks are discussed in today’s press release and in our most recent Form 10-K filed with the SEC on February 12, 2024.
Now I’ll turn it over to Balu.
Balu Balakrishnan
Thank you, Joe, and good afternoon. Our third quarter results were on target with revenues up 9% sequentially to $116 million, non-GAAP gross margin of 55.1% percent and non-GAAP
Read the full article here
