Power Integrations, Inc. (NASDAQ:POWI) Q2 2023 Earnings Conference Call August 3, 2023 4:30 PM ET
Company Participants
Joe Shiffler - Director, Investor Relations
Balu Balakrishnan - Chairman & Chief Executive Officer
Sandeep Nayyar - Chief Financial Officer
Conference Call Participants
Christopher Rolland - Susquehanna
Ross Seymore - Deutsche Bank
David Williams - The Benchmark Company
Tore Svanberg - Stifel
Operator
Thank you for standing by. My name is Maria and I will be your conference operator today. At this time, I would like to welcome everyone to the Power Integrations Second Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]
Thank you. I would now like to turn the call over to Joe Shiffler, Director of Investor Relations. Mr. Shiffler, please go ahead.
Joe Shiffler
Thank you, Maria. Good afternoon everyone. Thanks for joining us. With me on the call today are Balu Balakrishnan, Chairman, and CEO of Power Integrations; and Sandeep Nayyar, our Chief Financial Officer.
During this call, we will refer to financial measures not calculated according to GAAP. Non-GAAP measures for the second quarter of 2023 exclude stock-based compensation expenses, amortization of acquisition-related intangible assets, and the tax effects of these items. A reconciliation of non-GAAP measures to our GAAP results is included in today's press release.
Our discussion today, including the Q&A session, will include forward-looking statements denoted by words like will, would, believe, should, expect, outlook, plan, forecast, anticipate, prospects, and similar expressions that look toward future events or performance.
Such statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected or implied. Such risks and uncertainties are discussed in today's press release and in our most recent Form 10-K filed with the SEC on February seven 2023.
Finally this call is the property of Power Integrations and any recording or rebroadcast is expressly prohibited without the written consent of Power Integrations.
Now, I'll turn it over to Balu.
Balu Balakrishnan
Thanks Joe and good afternoon. As expected, our Q2 results marked the start of a recovery from the cyclical trough reached in the prior quarter. While the pace of the recovery reflects a soft demand environment, especially in China, we do expect meaningful revenue growth in the second half of the year compared to the first half as inventories continue to improve and new designs go into production.