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Power Integrations Reports Results for Q3

Power Integrations (Nasdaq:POWI), the leader in high-voltage analog integrated circuits for power conversion, announced its financial results for the quarter ended September 30, 2005. The company reported record net revenues of $36.5 million, up 4 percent compared to the prior quarter and 11 percent from the year-ago quarter. Gross margin was 49.5 percent, up from 48.9 percent in the prior quarter and 47.8 percent in the year-ago quarter. Operating margin for the quarter was 15.0 percent, compared to 16.9 percent in the prior quarter and 17.8 percent in the year-ago quarter. The decline in operating margin was driven by patent-litigation expenses, which totaled $1.8 million in the third quarter, up from $0.8 million in the prior quarter and $0.2 million in the year-ago quarter. Net income for the quarter was $5.7 million, or $0.18 per diluted share, compared to $5.0 million or $0.16 per diluted share in the prior quarter and $5.7 million or $0.18 per diluted share in the year-ago quarter. Patent-litigation expenses reduced the company’s net income in the third quarter of 2005 by $0.05 per diluted share. The company’s effective tax rate for the third quarter was 12 percent, down from 24 percent in the prior quarter […]

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Natsource Closes Greenhouse Gas Credit Pool with $550 Million

Natsource LLC, a global provider of asset management services, transaction services and advisory and research services in emissions and renewable energy markets, announced that its wholly owned subsidiary Natsource Asset Management Corp. (NAMC) has closed the Greenhouse Gas Credit Aggregation Pool (GG-CAP), with total commitments of US$550 million from 26 participants. The GG-CAP is the first private-sector initiative to provide a cost-effective means for companies to meet requirements to reduce their greenhouse gas emissions under the European Union Emissions Trading Scheme and the Kyoto Protocol. “The closure of GG-CAP, the first private-sector credit aggregation pool, is a watershed in the development of the greenhouse gas market,” said Jack Cogen, president of Natsource LLC. “The participation of so many highly regarded companies from around the world demonstrates the viability of this approach for meeting emissions-reduction targets. We are proud of the confidence that these major corporations have shown in us.” The 26 participants in the program are among the largest consumer product, manufacturing, energy and utility companies in Europe, Japan, and North America, and have a combined market capitalization of more than US$300 billion. Participants include: The Chugoku Electric Power Co., Inc.; Cosmo Oil Co. Ltd.; Electricity Supply Board (Ireland); Endesa […]

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Whole Foods Market Establishes Foundation to Fight Poverty in Developing Countries

Whole Foods Market (Nasdaq: WFMI), the world’s leading natural and organic foods supermarket, has created the Whole Planet Foundation which will provide micro-loans to women to begin their own businesses in developing countries. Five percent of sales on October 25th from all WFMI’s stores in the U.S., Canada and the UK will go directly to this fund. The Foundation is dedicated to fighting poverty in developing countries where Whole Foods Market trades. “Community involvement has been part of Whole Foods Market’s mission since our first store opened 25 years ago. As we’ve done business around the world, we have increasingly felt the responsibility to help those communities where we’re trading,” said John Mackey, chairman, chief executive officer and co- founder of Whole Foods Market. “Micro-loans are about empowering people to take responsibility for their own lives, to create small businesses and become successful entrepreneurs so that they can lift themselves out of poverty through their own efforts. It’s a very direct way out of poverty, and it has a wonderful track record.” Micro-loans are based on the principle that the poor have skills that remain under-utilized for lack of available credit. Instead of handing out money as charity, the micro-loan […]

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