Monolithic Power Systems Announces Results for the Second Quarter Ended June 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 900 employees worldwide, located in the United States, China, Taiwan, Korea, Japan 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,


2013

2012

ASSETS



Current assets:



Cash and cash equivalents

$ 101,735

$          75,104

Short-term investments

87,884

85,521

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

20,319

19,383

Inventories

40,268

32,115

Deferred income tax assets, net - current

15

1

Prepaid expenses and other current assets

1,731

2,177

 Total current assets

251,952

214,301

Property and equipment, net

67,281

59,412

Long-term investments

11,698

11,755

Deferred income tax assets, net - long-term

669

669

Other assets

994

1,025

Total assets

$ 332,594

$        287,162




LIABILITIES AND STOCKHOLDERS' EQUITY



Current liabilities:



Accounts payable

$   14,954

$            9,859

Accrued compensation and related benefits

10,085

7,686

Accrued liabilities

7,574

5,915

   Total current liabilities

32,613

23,460




Long-term liabilities

1,000

-

Non-current income tax liabilities

5,019

5,408

      Total liabilities

38,632

28,868

Stockholders' equity:



Common stock, $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 37,336 and 35,673 as of June 30, 2013 and December 31, 2012, respectively

220,648

194,079

Retained earnings 

68,029

60,040

Accumulated other comprehensive income

5,285

4,175

   Total stockholders' equity

293,962

258,294

   Total liabilities and stockholders' equity

$ 332,594

$        287,162


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