SAN JOSE, Calif., April 30, 2018 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (MPS) (Nasdaq:MPWR), a leading company in high performance analog solutions, today announced financial results for the quarter ended March 31, 2018.  

• Revenue was $129.2 million for the quarter ended March 31, 2018, a 0.2% decrease from $129.4 million for the quarter ended December 31, 2017 and a 28.7% increase from $100.4 million for the quarter ended March 31, 2017.
  
  
• GAAP gross margin was 55.4% for the quarter ended March 31, 2018, compared with 54.6% for the quarter ended March 31, 2017.
  
  
• Non-GAAP (1) gross margin was 55.9% for the quarter ended March 31, 2018, excluding the impact of $0.4 million for stock-based compensation expense and $0.3 million for the amortization of acquisition-related intangible assets, compared with 55.5% for the quarter ended March 31, 2017, excluding the impact of $0.4 million for stock-based compensation expense and $0.5 million for the amortization of acquisition-related intangible assets.
  
  
• GAAP operating expenses were $49.5 million for the quarter ended March 31, 2018, compared with $41.3 million for the quarter ended March 31, 2017.
  
  
• Non-GAAP (1) operating expenses were $35.0 million for the quarter ended March 31, 2018, excluding $14.6 million for stock-based compensation expense and $0.1 million for deferred compensation plan income, compared with $29.2 million for the quarter ended March 31, 2017, excluding $11.3 million for stock-based compensation expense and $0.8 million for deferred compensation plan expense.
  
  
• GAAP operating income was $22.0 million for the quarter ended March 31, 2018, compared with $13.6 million for the quarter ended March 31, 2017.
  
  
• Non-GAAP (1) operating income was $37.2 million for the quarter ended March 31, 2018, excluding $15.0 million for stock-based compensation expense, $0.3 million for the amortization of acquisition-related intangible assets and $0.1 million for deferred compensation plan income, compared with $26.5 million for the quarter ended March 31, 2017, excluding $11.7 million for stock-based compensation expense, $0.5 million for the amortization of acquisition-related intangible assets and $0.8 million for deferred compensation plan expense.
  
  
• GAAP interest and other income, net was $0.4 million for the quarter ended March 31, 2018, compared with $1.4 million for the quarter ended March 31, 2017.
  
  
• Non-GAAP (1) interest and other income, net was $0.6 million for the quarter ended March 31, 2018, excluding $0.2 million for deferred compensation plan expense, compared with $0.6 million for the quarter ended March 31, 2017, excluding $0.7 million for deferred compensation plan income.
  
  
• GAAP income before income taxes was $22.5 million for the quarter ended March 31, 2018, compared with $15.0 million for the quarter ended March 31, 2017.
  
  
• Non-GAAP (1) income before income taxes was $37.8 million for the quarter ended March 31, 2018, excluding $15.0 million for stock-based compensation expense and $0.3 million for the amortization of acquisition-related intangible assets, compared with $27.2 million for the quarter ended March 31, 2017, excluding $11.7 million for stock-based compensation expense and $0.5 million for the amortization of acquisition-related intangible assets.
  
  
• GAAP net income was $21.9 million and GAAP earnings per share were $0.49 per diluted share for the quarter ended March 31, 2018. Comparatively, GAAP net income was $14.5 million and GAAP earnings per share were $0.33 per diluted share for the quarter ended March 31, 2017.
  
  
• Non-GAAP (1) net income was $35.0 million and non-GAAP earnings per share were $0.79 per diluted share for the quarter ended March 31, 2018, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan expense and related tax effects, compared with non-GAAP net income of $25.2 million and non-GAAP earnings per share of $0.58 per diluted share for the quarter ended March 31, 2017, excluding stock-based compensation income, amortization of acquisition-related intangible assets, net deferred compensation plan expense and related tax effects.

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 thousands):

The following is a summary of revenue by product family for the periods indicated (in thousands):