The forward-looking statements in this press release and statements made during the accompanying teleconference represent MPS’ projections and current expectations, as of the date hereof, not predictions of actual performance. MPS assumes no obligation to update the information in this press release or in the accompanying conference call.
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 headquartered in San Jose, CA. 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) | ||||||||
| September 30, | December 31, | |||||||
| 2017 | 2016 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 104,424 | $ | 112,703 | ||||
| Short-term investments | 195,174 | 155,521 | ||||||
| Accounts receivable, net | 50,757 | 34,248 | ||||||
| Inventories | 99,887 | 71,469 | ||||||
| Other current assets | 13,560 | 9,043 | ||||||
| Total current assets | 463,802 | 382,984 | ||||||
| Property and equipment, net | 100,629 | 85,171 | ||||||
| Long-term investments | 5,368 | 5,354 | ||||||
| Goodwill | 6,571 | 6,571 | ||||||
| Acquisition-related intangible assets, net | 1,464 | 3,002 | ||||||
| Deferred tax assets, net | 661 | 633 | ||||||
| Other long-term assets | 26,518 | 27,411 | ||||||
| Total assets | $ | 605,013 | $ | 511,126 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 21,831 | $ | 17,427 | ||||
| Accrued compensation and related benefits | 17,458 | 12,578 | ||||||
| Accrued liabilities | 26,879 | 22,916 | ||||||
| Total current liabilities | 66,168 | 52,921 | ||||||
| Income tax liabilities | 4,627 | 3,870 | ||||||
| Other long-term liabilities | 28,695 | 23,219 | ||||||
| Total liabilities | 99,490 | 80,010 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders' equity: | ||||||||
| Common stock and additional paid-in capital, $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 41,508 and 40,793 as of September 30, 2017 and December 31, 2016, respectively | 364,726 | 315,969 | ||||||
| Retained earnings | 140,455 | 119,362 | ||||||
| Accumulated other comprehensive income (loss) | 342 | (4,215 | ) | |||||
| Total stockholders’ equity | 505,523 | 431,116 | ||||||
| Total liabilities and stockholders’ equity | $ | 605,013 | $ | 511,126 | ||||
