Monolithic Power Systems Announces Results for the Fourth Quarter and Year Ended December 31, 2020, and an Increase in Quarterly Cash Dividend

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 based in the United States. MPS can be contacted through its website at www.monolithicpower.com 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.

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)  

   December 31, 
   2020  2019 
ASSETS            
Current assets:       
Cash and cash equivalents $334,944 $172,960 
Short-term investments  260,169  282,437 
Accounts receivable, net  66,843  52,704 
Inventories  157,062  127,500 
Other current assets  22,980  19,605 
Total current assets  841,998  655,206 
Property and equipment, net  281,528  228,315 
Goodwill  6,571  6,571 
Deferred tax assets, net  18,556  17,193 
Other long-term assets  59,838  49,090 
Total assets $1,208,491 $956,375 
        
LIABILITIES AND STOCKHOLDERS’ EQUITY             
Current liabilities:              
Accounts payable   $ 38,169   $ 27,271  
Accrued compensation and related benefits     45,840     26,164  
Other accrued liabilities     62,960     44,790  
Total current liabilities     146,969     98,225  
Income tax liabilities     37,062     37,596  
Other long-term liabilities     57,873     47,063  
Total liabilities     241,904     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: 45,267 and 43,616, respectively     657,701     549,517  
Retained earnings     298,746     229,450  
Accumulated other comprehensive income (loss)     10,140     (5,476 )
Total stockholders’ equity     966,587     773,491  
Total liabilities and stockholders’ equity   $ 1,208,491   $ 956,375  



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