Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2017
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Monolithic Power Systems, Inc. | |
Condensed Consolidated Statements of Operations | | (Unaudited, in thousands, except per share amounts) | | | | | |
Three Months Ended
September 30, | | |
Nine Months Ended
September 30, | | | | |
2017 | | |
2016 | | |
2017 | | |
2016 | | | Revenue | | $ | 128,939 | | | $ | 106,456 | | | $ | 341,499 | | | $ | 285,047 | | | Cost of revenue | | | 58,083 | | | | 48,531 | | | | 154,377 | | | | 130,686 | | | Gross profit | | | 70,856 | | | | 57,925 | | | | 187,122 | | | | 154,361 | | | Operating expenses: | | | | | | | | | | | | | | | | | | Research and development | | | 21,442 | | | | 20,472 | | | | 60,629 | | | | 55,669 | | | Selling, general and administrative | | | 25,255 | | | | 22,397 | | | | 73,219 | | | | 61,696 | | | Litigation expense, net | | | 327 | | | | 55 | | | | 903 | | | | 92 | | | Total operating expenses | | | 47,024 | | | | 42,924 | | | | 134,751 | | | | 117,457 | | | Income from operations | | | 23,832 | | | | 15,001 | | | | 52,371 | | | | 36,904 | | | Interest and other income, net | | | 1,255 | | | | 780 | | | | 3,873 | | | | 1,920 | | | Income before income taxes | | | 25,087 | | | | 15,781 | | | | 56,244 | | | | 38,824 | | | Income tax provision | | | 1,445 | | | | 1,408 | | | | 3,112 | | | | 2,678 | | | Net income | | $ | 23,642 | | | $ | 14,373 | | | $ | 53,132 | | | $ | 36,146 | | | | | | | | | | | | | | | | | | | | | Net income per share: | | | | | | | | | | | | | | | | | | Basic | | $ | 0.57 | | | $ | 0.35 | | | $ | 1.29 | | | $ | 0.90 | | | Diluted | | $ | 0.54 | | | $ | 0.34 | | | $ | 1.22 | | | $ | 0.87 | | | Weighted-average shares outstanding: | | | | | | | | | | | | | | | | | | Basic | | | 41,458 | | | | 40,590 | | | | 41,276 | | | | 40,335 | | | Diluted | | | 43,486 | | | | 41,895 | | | | 43,384 | | | | 41,752 | | | | | | | | | | | | | | | | | | | | | Cash dividends declared per common share | | $ | 0.20 | | | $ | 0.20 | | | $ | 0.60 | | | $ | 0.60 | |
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