Monolithic Power Systems Announces Results for the Second Quarter Ended June 30, 2021


Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts)

   Three Months Ended June 30,   Six Months Ended June 30, 
   2021   2020   2021   2020 
Revenue $293,317  $186,209  $547,772  $351,987 
Cost of revenue  129,102   83,616   242,498   157,947 
Gross profit  164,215   102,593   305,274   194,040 
Operating expenses:                
Research and development  44,753   31,673   86,645   57,629 
Selling, general and administrative  57,238   40,883   108,691   73,047 
Litigation expense  1,596   2,082   3,224   4,423 
Total operating expenses     103,587       74,638       198,560       135,099  
Income from operations     60,628       27,955       106,714       58,941  
Other income, net     3,031       5,200       5,618       3,486  
Income before income taxes     63,659       33,155       112,332       62,427  
Income tax expense (benefit)     8,490       2,988       11,750       (3,495 )
Net income   $ 55,169     $ 30,167     $ 100,582     $ 65,922  
                                 
Net income per share:                                
Basic   $ 1.20     $ 0.67     $ 2.20     $ 1.48  
Diluted   $ 1.16     $ 0.64     $ 2.11     $ 1.41  
Weighted-average shares outstanding:                                
Basic     45,796       44,785       45,647       44,620  
Diluted     47,754       46,831       47,732       46,750  

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