Monolithic Power Systems Announces Results for the Fourth Quarter and Year Ended December 31, 2016

The forward-looking statements in this press release and statements made during the accompanying teleconference 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
Monolithic Power Systems, Inc. (MPS) provides small, highly energy efficient, easy-to-use power solutions for systems found in industrial applications, telecom infrastructures, cloud computing, automotive, and consumer applications. MPS' mission is to reduce total energy consumption in its customers' systems with green, practical, compact solutions. The company was founded by Michael Hsing in 1997 and is headquartered in San Jose, CA. MPS can be contacted through its website at or its support offices around the world.

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)
 
  
  December 31, 
   2016    2015 
ASSETS    
Current assets:    
Cash and cash equivalents$112,703  $90,860 
Short-term investments 155,521   144,103 
Accounts receivable, net 34,248   30,830 
Inventories 71,469   63,209 
Other current assets 9,043   2,926 
Total current assets 382,984   331,928 
Property and equipment, net 85,171   65,359 
Long-term investments 5,354   5,361 
Goodwill 6,571   6,571 
Acquisition-related intangible assets, net 3,002   5,053 
Deferred tax assets, net 633   672 
Other long-term assets 27,411   16,341 
Total assets$511,126  $431,285 
     
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Current liabilities:    
Accounts payable$17,427  $13,487 
Accrued compensation and related benefits 12,578   9,812 
Accrued liabilities 22,916   19,984 
Total current liabilities 52,921   43,283 
Income tax liabilities 3,870     2,941  
Other long-term liabilities   23,219       16,545  
Total liabilities   80,010       62,769  
Commitments and contingencies        
Stockholders' equity:        
Common stock and additional paid-in capital, $0.001 par value; shares authorized:        
150,000; shares issued and outstanding: 40,793 and 39,689        
as of December 31, 2016 and December 31, 2015, respectively   315,969       265,763  
Retained earnings   119,362       101,287  
Accumulated other comprehensive income (loss)   (4,215 )     1,466  
Total stockholders’ equity   431,116       368,516  
Total liabilities and stockholders’ equity $ 511,126     $ 431,285  
         



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