Power Integrations today announced financial results for the quarter ended March 31, 2020. Net revenues for the first quarter were $109.7 million, down four percent compared to the prior quarter and up 23 percent from the first quarter of 2019. Net income for the first quarter was $15.9 million or $0.53 per diluted share compared to $5.28 per share in the prior quarter and $0.25 in the first quarter of 2019. (Net income in the prior quarter included a benefit of $4.78 per share from the settlement of the company’s patent litigation with ON Semiconductor.) Cash flow from operations for the first quarter was $26.4 million.
For more information, see today's press release.