Monolithic Power Systems Announces Results for the Second Quarter Ended June 30, 2013

 


Condensed Consolidated Statement of Operations

(Unaudited, in thousands, except per share amounts)  



Three months ended

June 30,


Six months ended

June 30,


2013


2012


2013


2012

















Revenue 

$ 57,714


$ 58,607


$ 109,184


$ 109,091

Cost of revenue (1)

26,786


27,435


50,871


51,509









       Gross profit 

30,928


31,172


58,313


57,582

Operating expenses:








  Research and development (1)

12,478


12,468


24,601


23,586

  Selling, general and administrative (1)

13,793


12,167


27,051


24,133

  Litigation benefit

(257)


(244)


(558)


(116)









       Total operating expenses 

26,014


24,391


51,094


47,603









Income from operations 

4,914


6,781


7,219


9,979

Interest and other income, net

218


359


208


465









Income before income taxes 

5,132


7,140


7,427


10,444

Income tax provision (benefit)

(357)


548


(562)


857









Net income 

$   5,489


$   6,592


$     7,989


$     9,587









Basic net income per share 

$     0.15


$     0.19


$       0.22


$       0.28

Diluted net income per share 

$     0.14


$     0.18


$       0.21


$       0.27

Weighted average common shares outstanding:








          Basic

37,053


34,665


36,657


34,385

          Diluted

38,239


35,997


38,019


35,660









(1) Includes stock-based compensation expense as follows:








            Cost of revenue

$      146


$      118


$        302


$        213

          Research and development

1,693


1,524


3,066


2,790

          Selling, general and administrative

3,351


2,187


6,482


4,141

        Total stock-based compensation expense

$   5,190


$   3,829


$     9,850


$     7,144


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