Monolithic Power Systems Announces Results for the Fourth Quarter and Year Ended December 31, 2021 and an Increase in Quarterly Cash Dividend

 
Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts)
 
   Three Months Ended December 31,   Year Ended December 31,
   2021   2020   2021   2020
Revenue $336,504  $233,043  $1,207,798  $844,452
Cost of revenue  142,631   104,169   522,339   378,498
Gross profit  193,873   128,874   685,459   465,954
Operating expenses:               
Research and development  54,514   42,252   190,627   137,598
Selling, general and administrative  61,208   45,120   226,190   161,670
Litigation expense (benefit), net  (420)  1,539   6,225   7,804
Total operating expenses  115,302       88,911       423,042       307,072
Operating income     78,571       39,963       262,417       158,882
Other income, net     3,391       4,480       9,802       10,460
Income before income taxes     81,962       44,443       272,219       169,342
Income tax expense     9,291       1,556       30,196       4,967
Net income   $ 72,671     $ 42,887     $ 242,023     $ 164,375
                               
Net income per share:                              
Basic   $ 1.58     $ 0.95     $ 5.28     $ 3.67
Diluted   $ 1.51     $ 0.90     $ 5.05     $ 3.50
Weighted-average shares outstanding:                              
Basic     46,139       45,148       45,851       44,840
Diluted     48,240       47,600       47,889       47,014

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