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

The forward-looking statements in this press release represent MPS' projections and current expectations, as of the date hereof, not predictions of actual performance. MPS assumes no obligation to update the information in this press release or in the accompanying conference call.

About Monolithic Power Systems, Inc.
Monolithic Power Systems (MPS) is a fabless semiconductor company specializing in high-performance analog ICs. Founded in 1997, MPS's core technology is its innovative and proprietary manufacturing process combined with superior analog circuit design capabilities across system-level and end customer applications. These combined advantages enable MPS to deliver highly integrated monolithic products that offer energy efficient and cost-effective solutions. MPS product families include DC/DC converters, LED drivers and controllers, Class-D audio amplifiers, battery chargers and protections, USB and current-limit switches and AC/DC offline products. MPS has over 1,000 employees worldwide, located in the United States, China, Taiwan, Korea, Japan, Singapore and across Europe.

Monolithic Power Systems, MPS, and the MPS logo are registered trademarks of Monolithic Power Systems, Inc. in the U.S. and trademarked in certain other countries.

 

Condensed Consolidated Balance Sheets
(Unaudited, in thousands, except par value)





September 30,

December 31,


2013

2012

ASSETS



Current assets:



Cash and cash equivalents

$         110,446

$          75,104

Short-term investments

93,902

85,521

Accounts receivable, net of allowances of $10 as of September 30, 2013 and $20 as of December 31, 2012

21,957

19,383

Inventories

42,975

32,115

Deferred income tax assets, net - current

19

1

Prepaid expenses and other current assets

1,651

2,177

Total current assets

270,950

214,301

Property and equipment, net

67,221

59,412

Long-term investments

9,847

11,755

Deferred income tax assets, net - long-term

669

669

Other assets

1,353

1,025

Total assets

$         350,040

$        287,162




LIABILITIES AND STOCKHOLDERS' EQUITY



Current liabilities:



Accounts payable

$           10,406

$            9,859

Accrued compensation and related benefits

6,708

7,686

Accrued liabilities

9,245

5,915

Total current liabilities

26,359

23,460




Long-term liabilities

1,311

-

Non-current income tax liabilities

5,039

5,408

      Total liabilities

32,709

28,868

Stockholders' equity:



Common stock, $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 38,227 and 35,673 as of September 30, 2013 and December 31, 2012, respectively

235,993

194,079

Retained earnings 

75,439

60,040

Accumulated other comprehensive income

5,899

4,175

Total stockholders' equity

317,331

258,294

Total liabilities and stockholders' equity

$         350,040

$        287,162





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