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

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)






June 30,


December 31,


2014


2013

ASSETS




Current assets:




Cash and cash equivalents

$ 107,863


$        101,213

Short-term investments

133,012


125,126

Accounts receivable, net of allowances of $0 as of June 30, 2014 and December 31, 2013

21,420


23,730

Inventories

41,198


39,737

Deferred income tax assets, net 

295


294

Prepaid expenses and other current assets

2,509


1,986

Total current assets

306,297


292,086

Property and equipment, net

64,447


64,837

Long-term investments

9,848


9,860

Deferred income tax assets, net 

476


481

Other long-term assets

5,586


1,644

Total assets

$ 386,654


$        368,908





LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:




Accounts payable

$   13,759


$          10,694

Accrued compensation and related benefits

12,606


10,419

Accrued liabilities

15,605


17,376

Total current liabilities

41,970


38,489

Income tax liabilities

5,758


5,542

Other long-term liabilities

4,298


1,478

        Total liabilities

52,026


45,509

Commitments and contingencies 




Stockholders' equity:




Common stock, $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 38,774 and 38,291 as of June 30, 2014 and December 31, 2013, respectively

236,519


234,201

Retained earnings 

92,269


82,938

Accumulated other comprehensive income

5,840


6,260

Total stockholders' equity

334,628


323,399

Total liabilities and stockholders' equity

$ 386,654


$        368,908


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