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 October 19, 2017

Aldec

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
DVCon Europe 2017: Munich and So much more
More Editorial  
Jobs
Technical Support Engineer EU/Germany/UK for EDA Careers at N/A, United Kingdom
Senior R&D Engineer...Timing Closure Specialist for EDA Careers at San Jose or Anywhere, CA
Analog Hardware Engineer for Teradyne Inc at San Jose, CA
FPGA Engineer for Teradyne Inc at San Jose, CA
Senior Front-End RTL Design AE for EDA Careers at San Jose, CA
Field Application Engineer for Teradyne Inc at San Jose, CA
Upcoming Events
15th IEEE/ACM ESTIMedia 2017 at Seoul Korea (South) - Oct 19 - 20, 2017
11th International Symposium on Networks-on-Chip (NOCS 2017) at Seoul Korea (South) - Oct 19 - 20, 2017
ESTIMedia 2017 at Seoul Korea (South) - Oct 19 - 20, 2017
25th IFIP/IEEE International Conference on Very Large Scale Integration (VLSI-SoC 2017) at Yas Viceroy Abu Dhabi Yas Marina Circuit, Yas Island Abu Dhabi United Arab Emirates - Oct 23 - 25, 2017
CST: Webinar series



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — 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 PolicyAdvertise