SAN JOSE, Calif., Oct. 24, 2007 (PRIME NEWSWIRE) -- Power Integrations (Nasdaq:POWI), the leader in high-voltage analog integrated circuits for power conversion, today announced that it has established a foundry partnership with Seiko Epson Corporation ("Epson"). Qualification was completed during the third quarter of 2007, and production of Power Integrations' high-voltage power-conversion ICs is now ramping at Epson's wafer-fabrication facilities in Japan.
"Epson's high-quality, cost-effective foundry makes them an ideal partner with which to implement our proprietary high-voltage manufacturing process," said John Tomlin, Power Integrations' vice president of operations. "This partnership gives us production capacity to support the long-term growth of our business while helping us meet our cost-reduction goals."
According to Toshio Akahane, President and CEO of Epson Electronics America, "We are delighted that Power Integrations has selected Epson to produce its innovative power-conversion ICs. PI is a leading enabler in the effort to make electronic products more efficient, a priority that Epson shares. Both companies have worked diligently to move to the production stage, and we now look forward to a long-term wafer foundry relationship."
About Power Integrations
Power Integrations, Inc. is the leading supplier of high-voltage analog integrated circuits used in power conversion. The company's breakthrough 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 $2.5 billion on their electricity bills since its introduction in 1998. For more information, visit the company's website at www.powerint.com.
About Epson
Epson is a global leader in imaging products including printers, 3LCD projectors and small- and medium-sized LCDs. With an innovative and creative culture, Epson is dedicated to exceeding the vision and expectations of customers worldwide with products known for their superior quality, functionality, compactness and energy efficiency. Epson is a network of 87,626 employees in 117 companies around the world, and is proud of its ongoing contributions to the global environment and to the communities in which it is located. Led by the Japan-based Seiko Epson Corp., the Group had consolidated sales of 1416 billion yen in fiscal 2006.
Note Regarding Forward-Looking Statements
The statement in this press release relating to the partnership giving Power Integrations production capacity to support the long-term growth of its business while helping it meet its cost-reduction goals is a forward-looking statement, reflecting management's current belief. This forward-looking statement is based on current information that is, by its nature, subject to rapid and even abrupt changes. Due to risks and uncertainties associated with the company's business, actual results could differ materially from those projected or implied by management's forward-looking statement. These risks and uncertainties include, but are not limited to: the possibility that the company's capacity needs could grow to an extent that its current foundry partners, including Epson, will be unable to satisfy demand; the capacity needs of other Epson foundry customers, which could result in less capacity availability for Power Integrations; the dynamic nature of production costs in semiconductor manufacturing, including costs for raw materials and manufacturing equipment; changes in the dollar/yen exchange rate, which impacts the cost of wafers purchased from Epson by Power Integrations. These and other risk factors are more fully explained in the company's most recent annual report on Form 10-K, filed with the Securities and Exchange Commission on August 8, 2007. The company is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.