05:32 PM EDT, 08/06/2024 (MT Newswires) -- Power Integrations ( POWI ) reported Q2 non-GAAP net income late Tuesday of $0.28 per diluted share, down from $0.36 a year earlier.

Analysts polled by Capital IQ expected $0.26.

Net revenue for the quarter ended June 30 was $106.2 million, down from $123.2 million a year earlier.

Analysts surveyed by Capital IQ expected about $105 million.

For Q3, the company expects revenue of $115 million plus or minus $5 million. Analysts polled by Capital IQ expect $123.4 million.

Power Integrations ( POWI ) board kept the dividend at $0.20 per share, payable on Sept. 30 to shareholders of record on Aug. 30.

Shares of the company fell 5% in recent after-hours activity.

Price: 61.05, Change: -3.22, Percent Change: -5.01