Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2017


Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts)
 
   Three Months Ended
September 30,
   Nine Months Ended
September 30,
 
   2017   2016   2017   2016 
Revenue $128,939  $106,456  $341,499  $285,047 
Cost of revenue  58,083   48,531   154,377   130,686 
Gross profit  70,856   57,925   187,122   154,361 
Operating expenses:                
Research and development  21,442   20,472   60,629   55,669 
Selling, general and administrative  25,255   22,397   73,219   61,696 
Litigation expense, net  327   55   903   92 
Total operating expenses  47,024   42,924   134,751   117,457 
Income from operations  23,832   15,001   52,371   36,904 
Interest and other income, net  1,255   780   3,873   1,920 
Income before income taxes  25,087   15,781   56,244   38,824 
Income tax provision  1,445   1,408   3,112   2,678 
Net income $23,642  $14,373  $53,132  $36,146 
                               
Net income per share:                                
Basic   $ 0.57     $ 0.35     $ 1.29     $ 0.90  
Diluted   $ 0.54     $ 0.34     $ 1.22     $ 0.87  
Weighted-average shares outstanding:                                
Basic     41,458       40,590       41,276       40,335  
Diluted     43,486       41,895       43,384       41,752  
                                 
Cash dividends declared per common share   $ 0.20     $ 0.20     $ 0.60     $ 0.60  

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