Monolithic Power Systems Announces Results For the Second Quarter Ended June 30, 2014

(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 June 30, 2014.

The results for the quarter ended June 30, 2014 are as follows:

  • Net revenue was $68.4 million, a 13.9% increase from $60.1 million in the first quarter of 2014 and an 18.6% increase from $57.7 million in the second quarter of 2013.
  • GAAP gross margin was 54.2%, which included the impact of $0.2 million for stock-based compensation expenses, compared with 53.6% in the second quarter of 2013, which included the impact of $0.1 million for stock-based compensation expenses.
  • Non-GAAP gross margin(1) was 54.5%, which excluded the impact of $0.2 million for stock-based compensation expenses, compared with 53.8% in the second quarter of 2013, which excluded the impact of $0.1 million for stock-based compensation expenses.
  • GAAP operating expenses were $30.5 million, including $30.2 million for research and development (R&D) and selling, general and administrative (SG&A) expenses, which included $8.7 million for stock-based compensation expenses and acquisition-related expenses, and $0.3 million for litigation expenses. Comparatively, for the quarter ended June 30, 2013, GAAP operating expenses were $26.0 million, including $26.3 million for R&D and SG&A expenses, which included $5.0 million for stock-based compensation expenses, and $(0.3) million for litigation benefit.
  • Non-GAAP(1) operating expenses were $21.8 million, excluding $8.7 million for stock-based compensation expenses and acquisition-related expenses, compared with $21.0 million, excluding $5.0 million for stock-based compensation expenses, for the quarter ended June 30, 2013.
  • GAAP net income was $6.4 million and GAAP earnings per share were $0.16 per diluted share. Comparatively, GAAP net income was $5.5 million and GAAP earnings per share were $0.14 per diluted share for the quarter ended June 30, 2013.
  • Non-GAAP(1) net income was $14.6 million and non-GAAP earnings per share were $0.37 per diluted share, excluding stock-based compensation expenses, acquisition-related expenses and related tax effects, compared with non-GAAP net income of $9.3 million and non-GAAP earnings per share of $0.24 per diluted share, excluding stock-based compensation expenses, a one-time cash award and related tax effects, for the quarter ended June 30, 2013.

The results for the six months ended June 30, 2014 are as follows:

  • Net revenue was $128.5 million, a 17.7% increase from $109.2 million for the six months ended June 30, 2013.
  • GAAP gross margin was 53.9%, which included the impact of $0.4 million for stock-based compensation expenses, compared with 53.4% for the six months ended June 30, 2013, which included the impact of $0.3 million for stock-based compensation expenses.
  • Non-GAAP gross margin(1) was 54.2%, which excluded the impact of $0.4 million for stock-based compensation expenses, compared with 53.7% for the six months ended June 30, 2013, which excluded the impact of $0.3 million for stock-based compensation expenses.
  • GAAP operating expenses were $53.5 million, including $61.9 million for R&D and SG&A expenses, which included $16.1 million for stock-based compensation expenses and acquisition-related expenses, and $(8.4) million for litigation benefit. Comparatively, for the six months ended June 30, 2013, GAAP operating expenses were $51.1 million, including $51.7 million for R&D and SG&A expenses, which included $9.5 million for stock-based compensation expenses, and $(0.6) million for litigation benefit.
  • Non-GAAP(1) operating expenses were $37.4 million, excluding $16.1 million for stock-based compensation expenses and acquisition-related expenses, compared with $41.6 million, excluding $9.5 million for stock-based compensation expenses, for the six months ended June 30, 2013.
  • GAAP net income was $15.4 million and GAAP earnings per share were $0.39 per diluted share. Comparatively, GAAP net income was $8.0 million and GAAP earnings per share were $0.21 per diluted share for the six months ended June 30, 2013.
  • Non-GAAP(1) net income was $30.2 million and non-GAAP earnings per share were $0.76 per diluted share, excluding stock-based compensation expenses, acquisition-related expenses and related tax effects, compared with non-GAAP net income of $15.7 million and non-GAAP earnings per share of $0.41 per diluted share, excluding stock-based compensation expenses, a one-time cash award and related tax effects, for the six months ended June 30, 2013.

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 June 30,


Six Months Ended June 30,

End Market


2014


2013


2014


2013

Communication


$ 17.0


$ 14.9


$   30.6


$   28.2

Storage and Computing


10.8


10.9


21.4


23.1

Consumer


28.5


23.9


54.6


42.7

Industrial


12.1


8.0


21.9


15.2

Total


$ 68.4


$ 57.7


$ 128.5


$ 109.2


1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article
CST: Webinar Feb 16, 2017

ALDEC:

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Synopsys: Is 40 the new 20?
More Editorial  
Jobs
Senior Physical Design Engineer for Ambiq Micro at Austin, TX
Technical Support Engineer for EDA Careers at Freemont, CA
Development Engineer-WEB SKILLS +++ for EDA Careers at North Valley, CA
Senior DSP Architect / System Engineer for General Dynamics Mission Systems at Scottsdale, AZ
SoC Design Engineer for Intel at Santa Clara, CA
FAE FIELD APPLICATIONS SAN DIEGO for EDA Careers at San Diego, CA
Upcoming Events
3D Printing Electronics Conference at High Tech Campus 1, 5656 Eindhoven Eindhoven Netherlands - Jan 24, 2017
DesignCon 2017 at Santa Clara Convention Center Santa Clara CA - Jan 31 - 2, 2017
Embedded Neural Network Summit at San Jose CA - Feb 1, 2017
International Solid-State Circuits Conference (ISSCC) at San Francisco CA - Feb 5 - 9, 2017
CST: Webinars Begin on February 9



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