Power Integrations Makes San Jose Mercury News’ Annual List of Silicon Valley 150

April 22, 2003
Leading Power Conversion IC Company Ranks 12th in Percentage Gains in Net Income and 38th in Profitability

SAN JOSE, Calif. – April 22, 2003 – Power Integrations, Inc. (Nasdaq: POWI) a leading supplier of high-voltage integrated circuits used in power conversion, today announced that it has been named for the first time to the Silicon Valley 150 (SV 150), the annual ranking of the region's largest public companies. The ranking was published on April 14, 2003 by the San Jose Mercury News.

The SV 150 ranks public companies based on worldwide revenues and other measures of financial performance for the last fiscal year. Power Integrations ranked 12th in percentage gains in net income, 38th in profitability and 135th in sales in 2002. Power Integrations' revenues increased 15 percent to $108.2 million for the year ending Dec. 31, 2002. At the same time, Power Integrations net income rose 42 percent to $9.6 million, or 8.9 percent of net revenues.

"Power Integrations has a record of excellent financial performance and market penetration in our five years as a public company," said Balu Balakrishnan, president and chief executive officer of Power Integrations. "Our 15 percent year-to-year revenue growth in 2002 was especially pleasing given the lack of growth in our end-markets during the year. We're also proud of our record of innovation, end-market diversification and manufacturing cost control, which we believe all help position us for continued success."

In total, Silicon Valley's biggest 150 public companies lost $18.4 billion on $265.4 billion in sales in 2002. Power Integrations, Inc. is a leading supplier of high-voltage analog integrated circuits for use in power conversion. For more information, contact the company at 5245 Hellyer Avenue, San Jose, California 95138, PH: (408) 414-9200 or visit the company's web site at www.powerint.com.

Safe Harbor Statement

This press release contains forward-looking statements which reflect management's current forecast of certain aspects of the Company's future business. These forward-looking statements are based on current information which we have assessed, but which by its nature, is subject to rapid and even abrupt changes. Forward looking statements are denoted by the use of such words and phrases as "will," "expects," "believe," and similar words and phrases that look toward future events or performance. The Company's actual results could differ materially from those projected or implied by our forward looking statements due to risks and uncertainties associated with the Company's business. These include, but are not limited to, changes and shifts in customer demand away from products which integrate the Company's ICs to products which do not; the lengthy sales cycle for the Company's products which often results in the Company incurring substantial expenses before the Company generates significant revenues, if any, from the sale of a new product or even before a customer, if any, decides to use the new product in any of its products; and the associated risk that the customer's product in which the Company's new product is used will not be commercially successful due to a variety of factors including cost relative to competitive products at the time the customer's product enters the market. Other factors include, but are not limited to, our ability to maintain and establish strategic relationships; the risks inherent in the development and delivery of complex technologies; our ability to attract, retain and motivate qualified personnel; the emergence of new markets for our products and services, and our ability to compete in those markets based on timeliness, cost and market demand; and our limited financial resources. We more fully discuss these and other risk factors in the Company's most recent reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission.

NASDAQ: POWI $119.08 -1.23
-1.02% Volume: 129,556 August 7, 2020

Contact Us

Joe Shiffler
Director, Investor Relations & Corporate Communications
(408) 414-8528

Literature Requests

Mailing Address:
Power Integrations
Attn: Investor Relations
5245 Hellyer Avenue San Jose, CA. 95138

Transfer Agent:
P.O. Box 30170
College Station, TX 77842
Phone: (781) 575-2879

Subscribe to Investor Alerts

Email Address *
Mailing Lists *

Enter the code shown above.