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power integrations ™ NEWS RELEASE Power Integrations Reports Third - Quarter Financial Results Revenues increased 46 percent year - over - year to $ 176.8 million ; GAAP earnings were $ 0.69 per diluted share ; non - GAAP earnings were $ 0.84 per diluted share Quarterly dividend rises to $ 0.15 per share ; $ 50M added to repurchase authorization SAN JOSE , CALIF . October 28 , 2021 Power Integrations ( Nasdaq : POWI ) today announced financial results for the quarter ended September 30 , 2021. Net revenues for the third quarter of 2021 were $ 176.8 million , down two percent compared to the prior quarter and up 46 percent from the third quarter of 2020. Net income for the third quarter was $ 42.0 million or $ 0.69 per diluted share compared to $ 0.68 per diluted share in the prior quarter and $ 0.24 per diluted share in the third quarter of 2020. Cash flow from operations for the third quarter was $ 58.7 million . In addition to its GAAP results , the company provided certain non - GAAP measures that exclude stock - based compensation , amortization of acquisition - related intangible assets and the tax effects of these items . Non - GAAP net income for the third quarter of 2021 was $ 51.8 million or $ 0.84 per diluted share compared with $ 0.83 per diluted share in the prior quarter and $ 0.40 per diluted share in the third quarter of 2020. A reconciliation of GAAP to non - GAAP financial results is included with the tables accompanying this press release . -more Commented Balu Balakrishnan , president and CEO of Power Integrations : " We delivered another quarter of strong growth in revenues , earnings and cash flows . For the first nine months of 2021 our revenues were up 57 percent , and we are on track to outgrow the analog semiconductor industry by a wide margin this year thanks to broad market - share gains , strong uptake of our highly integrated GaN products , and secular trends such as energy efficiency , electrification , smart homes and appliances , and advanced chargers for mobile devices . "