Power Integrations, Inc. (NASDAQ:POWI) Q3 2023 Earnings Call Transcript

And basically, I push that out next year with the normal raises the higher health care costs that I’m sure you’re aware of what’s going on in that market. So we are keeping tightening our belt how much we can, but we have to make those investments, which are strategic. And you know Ross, this is not the first time we’ve been in this tight situation. We’ve been here in 2011 and ’12. And we had the same — once it was a yen problem, one, it was Nokia and RIM going away. But we invested. And you saw [Hoff] come back, and I think this is going to be no different. And I think as Balu indicated, typically, these downturns have been about four quarters. This time, it’s definitely longer. But they eventually turn, and we see it first. And every time we turn, we’ve come out stronger.

Operator: [Operator Instructions] There are no further questions at this time. So I would like to turn the floor back over to Joe Shiffler.

Joe Shiffler: All right. Thank you, Christina, and thanks, everyone, for listening. There will be a replay of this call available on our website, investors.power.com. Thanks again, and good afternoon.

Operator: Thank you. This does conclude today’s conference call. You may now disconnect. Have a great day.