Power Integrations today announced financial results for the quarter and year ended December 31, 2019. The results include the previously announced settlement of the company’s patent disputes with ON Semiconductor, which resulted in a payment to the company of $175 million in October 2019.
Net revenues for the fourth quarter were $114.5 million, flat compared to the prior quarter and 23 percent from the fourth quarter of 2018. Net income was $158.3 million or $5.28 per diluted share, compared to $0.57 per share in the prior quarter and $0.77 in the fourth quarter of 2018. Cash flow from operations was $182.2 million for the fourth quarter.
For more information, see today's press release.