Monolithic Power Systems Announces Results for the Second Quarter Ended June 30, 2016

SAN JOSE, Calif., July 25, 2016 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (MPS) (Nasdaq:MPWR), a leading company in high performance power solutions, today announced financial results for the quarter and six months ended June 30, 2016.

The results for the quarter ended June 30, 2016 are as follows:

  • Revenue was $94.1 million, an 11.3% increase from $84.5 million in the first quarter of 2016 and a 15.6% increase from $81.4 million in the second quarter of 2015.
  • GAAP gross margin was 54.1% compared with 54.2% in the second quarter of 2015.
  • Non-GAAP gross margin(1) was 55.1%, excluding the impact of $0.4 million for stock-based compensation expense and $0.5 million for the amortization of acquisition-related intangible assets, compared with 55.0% in the second quarter of 2015, excluding the impact of $0.3 million for stock-based compensation expense and $0.4 million for the amortization of acquisition-related intangible assets.
  • GAAP operating expenses were $39.4 million compared with $34.0 million for the quarter ended June 30, 2015.
  • Non-GAAP(1) operating expenses were $27.7 million, excluding $11.4 million for stock-based compensation expense and $0.3 million for deferred compensation plan expense, compared with $25.0 million, excluding $9.2 million for stock-based compensation expense and $0.2 million for deferred compensation plan income, for the quarter ended June 30, 2015.
  • GAAP operating income was $11.5 million compared with $10.1 million for the quarter ended June 30, 2015.
  • Non-GAAP(1) operating income was $24.1 million, excluding $11.8 million for stock-based compensation expense, $0.5 million for the amortization of acquisition-related intangible assets and $0.3 million for deferred compensation plan expense, compared with $19.8 million, excluding $9.5 million for stock-based compensation expense, $0.4 million for the amortization of acquisition-related intangible assets and $0.2 million for deferred compensation plan income, for the quarter ended June 30, 2015.
  • Interest and other income, net was $0.6 million compared with $0.2 million for the quarter ended June 30, 2015.
  • Non-GAAP(1) interest and other income, net was $0.3 million, excluding $0.3 million for deferred compensation plan income, compared with $0.4 million, excluding $0.2 million for deferred compensation plan expense, for the quarter ended June 30, 2015.
  • GAAP net income was $11.2 million and GAAP earnings per share were $0.27 per diluted share. Comparatively, GAAP net income was $7.9 million and GAAP earnings per share were $0.19 per diluted share for the quarter ended June 30, 2015.
  • Non-GAAP(1) net income was $22.6 million and non-GAAP earnings per share were $0.54 per diluted share, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan income and related tax effects, compared with non-GAAP net income of $18.8 million and non-GAAP earnings per share of $0.46 per diluted share, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan expense and related tax effects, for the quarter ended June 30, 2015.

The results for the six months ended June 30, 2016 are as follows:

  • Revenue was $178.6 million, a 15.3% increase from $155.0 million for the six months ended June 30, 2015.
  • GAAP gross margin was 54.0% compared with 54.1% for the six months ended June 30, 2015.
  • Non-GAAP gross margin(1) was 55.0%, excluding the impact of $0.8 million for stock-based compensation expense and $1.0 million for the amortization of acquisition-related intangible assets, compared with 54.9% for the six months ended June 30, 2015, excluding the impact of $0.5 million for stock-based compensation expense and $0.7 million for the amortization of acquisition-related intangible assets.
  • GAAP operating expenses were $74.5 million compared with $67.8 million for the six months ended June 30, 2015.
  • Non-GAAP(1) operating expenses were $54.2 million, excluding $19.9 million for stock-based compensation expense and $0.4 million for deferred compensation plan expense, compared with $49.6 million, excluding $18.2 million for stock-based compensation expense, for the six months ended June 30, 2015.
  • GAAP operating income was $21.9 million compared with $16.0 million for the six months ended June 30, 2015.
  • Non-GAAP(1) operating income was $44.1 million, excluding $20.8 million for stock-based compensation expense, $1.0 million for the amortization of acquisition-related intangible assets and $0.4 million for deferred compensation plan expense, compared with $35.4 million, excluding $18.7 million for stock-based compensation expense and $0.7 million for the amortization of acquisition-related intangible assets, for the six months ended June 30, 2015.
  • Interest and other income, net was $1.1 million compared with $0.9 million for the six months ended June 30, 2015.
  • Non-GAAP(1) interest and other income, net was $0.5 million, excluding $0.6 million for deferred compensation plan income, compared with $1.0 million, excluding $0.1 million for deferred compensation plan expense, for the six months ended June 30, 2015.
  • GAAP net income was $21.8 million and GAAP earnings per share were $0.52 per diluted share. Comparatively, GAAP net income was $13.9 million and GAAP earnings per share were $0.34 per diluted share for the six months ended June 30, 2015.
  • Non-GAAP(1) net income was $41.3 million and non-GAAP earnings per share were $0.99 per diluted share, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan income and related tax effects, compared with non-GAAP net income of $33.7 million and non-GAAP earnings per share of $0.83 per diluted share, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan expense and related tax effects, for the six months ended June 30, 2015.

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

          
    Three Months Ended June 30,  Six Months Ended June 30,
  End Market   2016    2015    2016    2015 
 Communication $14.6  $17.1  $31.5  $34.4 
 Storage and Computing  18.3   12.6   33.7   24.0 
  Consumer     38.3       35.5       72.1       67.0  
  Industrial     22.9       16.2       41.3       29.6  
  Total   $ 94.1     $ 81.4     $ 178.6     $ 155.0  
                   

1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article
Aldec

Featured Video
Jobs
Senior Electrical Engineer for Allen & Shariff Corporation at Pittsburgh, Pennsylvania
Principle Electronic Design Engr for Cypress Semiconductor at San Jose, California
Director, Business Development for Kongsberg Geospatial at remote from home, Any State in the USA
Director, Business Development for Kongsberg Geospatial at Ottawa, Canada
Upcoming Events
IPC Technical Education - PCB Layout - Place and Route at Del Mar Fairgrounds 2260 Jimmy Durante Blvd. Del Mar CA - May 2, 2018
IPC Technical Education at Wisconsin Center 400 W Wisconsin Ave. Milwaukee WI - May 8, 2018
IPC High Reliability Forum at Embassy Suites: Baltimore-At BWI Airport 1300 Concourse Drive Linthicum MD - May 15 - 17, 2018
DownStream: Solutions for Post Processing PCB Designs
TrueCircuits: IoTPLL
DAC2018



Internet Business Systems © 2018 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