Power Integrations reported second-quarter revenue of $118.9 million, up 3% year-over-year and 10% sequentially, with non-GAAP gross margin reaching 55.1% and non-GAAP operating margin expanding to 17.1%. Non-GAAP net income was $20.9 million, or $0.37 per diluted share, and the company generated $22 million in operating cash flow. Industrial revenue grew 14% in the quarter, while channel inventory normalized to 7.3 weeks. For the third quarter, the company expects revenue between $122 million and $130 million and non-GAAP gross margin between 54% and 55%.
Power Integrations IncQ2 revenue and margins beat expectations, with strong industrial growth and positive Q3 guidance.
