Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2013

SAN JOSE, Calif., Oct. 24, 2013 — (PRNewswire) — Monolithic Power Systems (MPS) (Nasdaq: MPWR), a leading fabless manufacturer of high-performance analog and mixed-signal semiconductors, today announced financial results for the quarter ended September 30, 2013.

The results for the quarter ended September 30, 2013 are as follows:

  • Net revenue was $65.3 million, a 13.2% increase from $57.7 million in the second quarter of 2013 and a 15.6% increase from $56.5 million in the third quarter of 2012.
  • Gross margin was 54.0%, compared with 53.6% in the second quarter of 2013 and 53.1% in the third quarter of 2012.
  • GAAP operating expenses were $26.6 million, including $26.5 million for research and development (R&D) and selling, general and administrative (SG&A) expenses, which included $5.1 million for stock-based compensation and deferred compensation plan expenses, and $0.1 million for litigation expenses. Comparatively, for the quarter ended September 30, 2012, GAAP operating expenses were $23.7 million, including $23.9 million for R&D and SG&A expenses, which included $4.1 million for stock-based compensation expenses, and $(0.2) million for litigation benefit.
  • Non-GAAP(1) operating expenses were $21.6 million, excluding $5.1 million for stock-based compensation and deferred compensation plan expenses, compared with $19.6 million, excluding $4.1 million for stock-based compensation expenses, for the quarter ended September 30, 2012.
  • GAAP net income was $7.4 million and GAAP earnings per share were $0.19 per diluted share. Comparatively, GAAP net income was $5.9 million and GAAP earnings per share were $0.16 per diluted share for the quarter ended September 30, 2012.
  • Non-GAAP(1) net income was $12.8 million and non-GAAP earnings per share were $0.33 per diluted share, excluding stock-based compensation and deferred compensation plan expenses and related tax effects, compared with non-GAAP net income of $9.9 million and non-GAAP earnings per share of $0.27 per diluted share, excluding stock-based compensation expenses and related tax effects, for the quarter ended September 30, 2012.

The results for the nine months ended September 30, 2013 are as follows:

  • Net revenue was $174.5 million, a 5.4% increase from $165.6 million for the nine months ended September 30, 2012.
  • Gross margin was 53.6%, compared with 52.9% for the nine months ended September 30, 2012.
  • GAAP operating expenses were $77.7 million, including $78.2 million for R&D and SG&A expenses, which included $14.6 million for stock-based compensation and deferred compensation plan expenses, and $(0.5) million for litigation benefit. Comparatively, for the nine months ended September 30, 2012, GAAP operating expenses were $71.3 million, including $71.6 million for R&D and SG&A expenses, which included $11.0 million for stock-based compensation expenses, and $(0.3) million for litigation benefit.
  • Non-GAAP(1) operating expenses were $63.1 million, excluding $14.6 million for stock-based compensation and deferred compensation plan expenses, compared with $60.3 million, excluding $11.0 million for stock-based compensation expenses, for the nine months ended September 30, 2012.
  • GAAP net income was $15.4 million and GAAP earnings per share were $0.40 per diluted share. Comparatively, GAAP net income was $15.5 million and GAAP earnings per share were $0.43 per diluted share for the nine months ended September 30, 2012.
  • Non-GAAP(1) net income was $28.5 million and non-GAAP earnings per share were $0.74 per diluted share, excluding stock-based compensation and deferred compensation plan expenses, a one-time cash award and related tax effects, compared with non-GAAP net income of $26.1 million and non-GAAP earnings per share of $0.73 per diluted share, excluding stock-based compensation expenses and related tax effects, for the nine months ended September 30, 2012.

The following is a summary of revenue by end market for the periods indicated, estimated based on the Company's assessment of available end market data (in millions):



Three months ended September 30,


Nine months ended September 30,

End Market


2013


2012


2013


2012

Communication


$ 15.0


$ 12.8


$   43.2


$   38.7

Storage and Computing


12.2


10.8


35.3


31.2

Consumer


28.1


26.0


70.8


76.1

Industrial


10.0


6.9


25.2


19.6

Total


$ 65.3


$ 56.5


$ 174.5


$ 165.6


1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
H-1B Visa: de Geus’ tragedy looms large
Peggy AycinenaIP Showcase
by Peggy Aycinena
IP for Cars: Lawsuits are like Sandstorms
More Editorial  
Jobs
Mechanical Designer/Engineer for Palo Alto Networks at Santa Clara, CA
ASIC/FPGA Design Engineer for Palo Alto Networks at Santa Clara, CA
Staff Software Engineer - (170059) for brocade at San Jose, CA
Lead Java Platform Engineer IOT-WEB for EDA Careers at San Francisco Area, CA
Technical Support Engineer EU/Germany/UK for EDA Careers at N/A, United Kingdom
Technical Support Engineer for EDA Careers at Freemont, CA
Upcoming Events
EDI CON China 2017! at Shanghai Convention & Exhibition Center of International Sourcing (SHCEC) No.2739 West Guangfu Road Putuo District, Shanghai (200062) China - Apr 25 - 27, 2017
2017 SEMICON Southeast Asia at SPICE Arena Penang Malaysia - Apr 25 - 27, 2017
2017 IoT Developers Conference at Santa Clara Convention Center California - Apr 26 - 27, 2017
Embedded Systems Conference ESC Boston 2017 at Boston Convention & Exhibition Center Boston MA - May 3 - 4, 2017
DAC2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy