SAN JOSE, Calif., March 8, 2007 (PRIME NEWSWIRE) -- Power Integrations (Pink Sheets:POWI) today announced that it has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2005. The annual report includes restated financial information pertaining to fiscal years 1998 through 2005. The company intends to file its remaining outstanding SEC filings as soon as practicable, and plans to seek the listing of its shares on the Nasdaq stock market immediately thereafter.
"The filing of our 2005 Form 10-K is a major step forward for Power Integrations," said Balu Balakrishnan, the company's president and CEO. "The restatement of our historical financials is behind us, and we can now move forward with our remaining filings, which will enable us to seek the re-listing of our shares."
Tables summarizing the restated historical financial information contained in the company's 2005 annual report, as well as certain supplemental data, can be found on the "investor info" section of the company's website, www.powerint.com.
About Power Integrations
Power Integrations, Inc. is the leading supplier of high-voltage analog integrated circuits used in power conversion. The company's breakthrough integrated-circuit technology enables compact, energy-efficient power supplies in a wide range of electronic products, in both AC-DC and DC-DC applications. The company's EcoSmart(r) energy-efficiency technology, which dramatically reduces energy waste, has saved consumers and businesses around the world more than an estimated $2 billion on their electricity bills since its introduction in 1998. For more information, visit the company's website at www.powerint.com.