An LED driver includes a transformer, current control loop and current adjustment circuit. The primary side of the transformer transfers energy to the secondary side of the transformer responsive to an input signal. The secondary side delivers output current to one or more LEDs at a magnitude corresponding to the amount of energy transferred to the secondary side. The current control loop controls current in the primary side so that the output current equals a reference current signal. The current adjustment circuit injects a current adjustment signal into the current control loop responsive to a phase-cut signal which removes a portion of the input signal. The current control loop also decreases the current in the primary side responsive to the current adjustment signal so that a brightness of each LED connected to the secondary side is decreased by an amount corresponding to the magnitude of the current adjustment signal.