04:18 AM EDT, 05/08/2024 (MT Newswires) -- Power Integrations ( POWI ) reported Q1 non-GAAP net income late Tuesday of $0.18 per diluted share, down from $0.25 a year earlier.

Analysts polled by Capital IQ expected $0.13.

Net revenue for the quarter ended March 31 was $91.7 million, down from $106.3 million a year earlier.

Analysts surveyed by Capital IQ expected about $90 million.

For Q2, the company expects revenue of $100 million to $110 million. Analysts polled by Capital IQ expect $103.5 million.