Power Integrations today announced financial results for the quarter and year ended December 31, 2018. Net revenues for the fourth quarter were $93.3 million, down 15 percent from the prior quarter and down 14 percent from the fourth quarter of 2017. Net income was $22.7 million or $0.77 per diluted share, including a tax benefit reflecting the revision of prior estimates of the transition tax from the 2017 U.S. tax legislation. This compares to net income of $0.59 per diluted share in the prior quarter and a net loss of $0.57 per share in the fourth quarter of 2017, in which the company incurred a charge associated with the tax legislation. Cash flow from operations was $18.3 million for the fourth quarter.
Learn more about today's announcement here.