Power Integrations today announced financial results for the quarter and year ended December 31, 2020. Per-share measures for all periods have been adjusted for the 2:1 stock split effected as a stock dividend in August 2020.
Net revenues for the fourth quarter of 2020 were $150.7 million, up 24 percent compared to the prior quarter and up 32 percent from the fourth quarter of 2019. Net income for the fourth quarter was $27.3 million or $0.45 per diluted share compared to $0.24 per diluted share in the prior quarter and $2.64 per diluted share in the fourth quarter of 2019. Results for the fourth quarter of 2019 included a benefit of $2.39 per diluted share from a patent-litigation settlement. Cash flow from operations for the fourth quarter was $46.4 million.
For more information, see today's press release.