Power Integrations Reports First-Quarter Financial Results
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POWER INTEGRATIONS, INC.
CONSOLIDATED BALANCE SHEETS
(in
thousands)
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March 31, 2014
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December 31, 2013
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ASSETS
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CURRENT ASSETS:
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Cash and cash equivalents
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$
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83,967
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$
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92,928
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Short-term marketable securities
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133,684
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109,179
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Accounts receivable
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16,421
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12,389
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Inventories
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47,934
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42,235
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Deferred tax assets
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2,059
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2,059
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Prepaid expenses and other current assets
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17,027
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18,632
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Total current assets
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301,092
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277,422
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PROPERTY AND EQUIPMENT, net
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92,142
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90,141
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INTANGIBLE ASSETS, net
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38,478
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40,334
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GOODWILL
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80,599
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80,599
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DEFERRED TAX ASSETS
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5,686
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9,449
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OTHER ASSETS
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3,332
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3,476
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Total assets
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$
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521,329
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$
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501,421
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LIABILITIES AND STOCKHOLDERS’ EQUITY
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CURRENT LIABILITIES:
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Accounts payable
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$
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23,600
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$
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20,772
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Accrued payroll and related expenses
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8,046
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8,900
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Taxes payable
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1,768
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2,266
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Deferred taxes
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1,325
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943
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Deferred income on sales to distributors
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17,844
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15,727
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Other accrued liabilities
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1,698
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1,810
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Total current liabilities
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54,281
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50,418
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LONG-TERM LIABILITIES
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Income taxes payable
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2,612
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6,885
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Deferred taxes
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4,991
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5,273
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Other liabilities
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2,267
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2,159
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Total liabilities
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64,151
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64,735
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STOCKHOLDERS' EQUITY:
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Common stock
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30
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30
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Additional paid-in capital
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234,667
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223,660
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Accumulated other comprehensive loss
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(315
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)
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(470
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)
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Retained earnings
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222,796
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213,466
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Total stockholders' equity
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457,178
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436,686
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Total liabilities and stockholders' equity
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$
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521,329
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$
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501,421
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