Monolithic Power Systems Announces Results for the First Quarter Ended March 31, 2020
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SUPPLEMENTAL FINANCIAL INFORMATION | |
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STOCK-BASED COMPENSATION EXPENSE | |
| (Unaudited, in thousands) | |
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Three Months Ended March 31, | |
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2020 | | |
2019 | |
| Cost of revenue | | $ | 557 | | | $ | 531 | |
| Research and development | | | 4,370 | | | | 4,429 | |
| Selling, general and administrative | | | 13,635 | | | | 11,050 | |
| Total stock-based compensation expense | | $ | 18,562 | | | $ | 16,010 | |
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RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME | |
| (Unaudited, in thousands, except per share amounts) | |
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Three Months Ended March 31, | |
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2020 | | |
2019 | |
| Net income | | $ | 35,756 | | | $ | 26,181 | |
| Net income as a percentage of revenue | | | 21.6 | % | | | 18.5 | % |
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| Adjustments to reconcile net income to non-GAAP net income: | | | | | | | | |
| Stock-based compensation expense | | | 18,562 | | | | 16,010 | |
| Amortization of acquisition-related intangible assets | | | - | | | | 51 | |
| Deferred compensation plan (income) expense | | | 94 | | | | (136 | ) |
| Tax effect | | | (10,079 | ) | | | (4,197 | ) |
| Non-GAAP net income | | $ | 44,333 | | | $ | 37,909 | |
| Non-GAAP net income as a percentage of revenue | | | 26.7 | % | | | 26.8 | % |
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| Non-GAAP net income per share: | | | | | | | | |
| Basic | | $ | 1.00 | | | $ | 0.89 | |
| Diluted | | $ | 0.95 | | | $ | 0.84 | |
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| Shares used in the calculation of non-GAAP net income per share: | | | | | | | | |
| Basic | | | 44,455 | | | | 42,749 | |
| Diluted | | | 46,670 | | | | 45,232 | |
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