Power Integrations, Inc. (NASDAQ:POWI) Q2 2022 Earnings Conference Call August 4, 2022 4:30 PM ET

Company Participants

Joe Shiffler - Director, Investor Relations & Corporate Communications

Balu Balakrishnan - President and Chief Executive Officer

Sandeep Nayyar - Vice President of Finance and Chief Financial Officer

Conference Call Participants

Christopher Rolland - Susquehanna

Tore Svanberg - Stifel

Ross Seymore - Deutsche Bank

Matthew Ramsay - Cowen and Company

David Williams - The Benchmark Company

Auguste Richard - Northland

Operator

Good afternoon. My name is Joanne, 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].

Joe Shiffler, you may begin your conference.

Joe Shiffler

Thanks, Joanne. Good afternoon, everyone. Thanks for joining us. With me on the call today are Balu Balakrishnan, President and CEO of Power Integrations; and Sandeep Nayyar, our Chief Financial Officer.

Before we get started, I'd like to remind everyone that we will be hosting an Analyst Day on September 8 in New York. Details on a registration link for either in-person or remote attendance can be found on our Investor website, which is investors.power.com.

I'll also mention that during this call, we will refer to financial measures not calculated according to GAAP. Non-GAAP measures exclude stock-based compensation expenses, amortization of acquisition-related intangible assets, net other operating expenses of $1.1 million related to a patent litigation settlement and an offsetting recovery from the liquidation of SemiSouth Laboratories and the tax effects of these items. A reconciliation of non-GAAP measures to our GAAP results is included in our 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, 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 Form 10-K filed with the SEC on February 7, 2022.

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.