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Diode supplier Qspeed acquired by Power Integrations

Posted: 08 Feb 2011 ?? ?Print Version ?Bookmark and Share

Keywords:high-performance high-voltage diodes? high-voltage ICs? LinkSwitch-PH devices?

Power Integrations Inc. recently announced that it has purchased Qspeed Semiconductor for an estimated $7 million in cash.

Qspeed manufactures high-performance high-voltage diodes powered by a proprietary silicon technology that delivers high efficiency, low noise and high-frequency operation, thereby reducing the cost and size of magnetic components in power supplies.

Power Integrations, a supplier of high-voltage ICs for energy-efficient power conversion, also announced financial results for the quarter and fiscal year ended December 31, 2010.

Net revenues for the fourth quarter were $73.0 million, up 10 percent compared with the fourth quarter of 2009, and down three percent compared with the third quarter of 2010. Net income was $8.9 million or $0.30 per diluted share, compared with $9.2 million or $0.32 per diluted share in the year-ago quarter and $12.6 million or $0.43 per diluted share in the third quarter of 2010.

Full-year revenues for 2010 were $299.8 million, an increase of 39 percent compared with 2009. Net income for the full year was $1.67 per diluted share, more than double the $0.82 per diluted share reported in the prior year. Non-GAAP net income for the full year was $2.00 per diluted share, an increase of 69 percent from $1.18 per diluted share in the prior year.

Balu Balakrishnan, president and CEO of Power Integrations commented: "2010 was a landmark year for Power Integrations, as shipments surpassed one billion units and we approached $300 million in annual revenues. We grew our top line by 39 percent, achieving our ninth consecutive year of revenue growth. We also had an excellent year from a profitability standpoint, expanding our non-GAAP operating margin by more than five percentage points and growing our non-GAAP earnings by more than 75 percent."

The company issued the following forecast for the first quarter of 2011: Revenues are expected to be between $71 million and $77 million.

In October, Power Integrations announced a strategic investment in SemiSouth Laboratories, a Mississippi-based manufacturer of high-voltage silicon-carbide (SiC) power devices.

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