Monolithic Power Systems Announces Results for the First Quarter Ended March 31, 2020

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.

Contact:
Bernie Blegen
Chief Financial Officer
Monolithic Power Systems, Inc.
408-826-0777
investors@monolithicpower.com

Monolithic Power Systems, Inc.
Condensed Consolidated Balance Sheets
(Unaudited, in thousands, except par value)  

   March 31,   December 31, 
   2020   2019 
ASSETS              
Current assets:        
Cash and cash equivalents $154,880  $172,960 
Short-term investments  334,386   282,437 
Accounts receivable, net  54,341   52,704 
Inventories  131,499   127,500 
Other current assets  29,679   19,605 
Total current assets  704,785   655,206 
Property and equipment, net  236,807   228,315 
Long-term investments  3,057   3,138 
Goodwill  6,571   6,571 
Deferred tax assets, net  13,821   17,193 
Other long-term assets  42,463   45,952 
Total assets $1,007,504  $ 956,375  
                 
LIABILITIES AND STOCKHOLDERS’ EQUITY                
Current liabilities:                
Accounts payable   $ 37,752     $ 27,271  
Accrued compensation and related benefits     18,633       26,164  
Other accrued liabilities     56,110       44,790  
Total current liabilities     112,495       98,225  
Income tax liabilities     37,596       37,596  
Other long-term liabilities     44,223       47,063  
Total liabilities     194,314       182,884  
Commitments and contingencies                
Stockholders’ equity:                
Common stock and additional paid-in capital: $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 44,715 and 43,616, respectively     581,736       549,517  
Retained earnings     241,465       229,450  
Accumulated other comprehensive loss     (10,011 )     (5,476 )
Total stockholders’ equity     813,190       773,491  
Total liabilities and stockholders’ equity   $ 1,007,504     $ 956,375  
 

Monolithic Power Systems, Inc.

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