An example power supply controller includes a signal separator circuit that generates a feedback signal. An error signal generator generates an error signal in response to the feedback signal. A control circuit generates a drive signal in response to the error signal. The drive signal controls switching of a switch. A multi-cycle modulation circuit is included in the control circuit and generates a skip signal in response to a start skip signal, a stop skip signal and a skip mask signal. The skip mask signal is generated in response to the skip signal. The start skip and stop skip signals cause the drive signal to start skipping or stop skipping, respectively, on-time intervals of cycles. The skip mask signal disables the start skip signal from causing the drive signal to start skipping the on-time intervals of cycles.