Monolithic Power Systems Announces Results for the Third Quarter

Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2017

SUPPLEMENTAL FINANCIAL INFORMATION
STOCK-BASED COMPENSATION EXPENSE
(Unaudited, in thousands)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Cost of revenue	$	453	$	403	$	1,264	$	1,217
Research and development		3,838		3,986		11,297		11,001
Selling, general and administrative		9,678		9,127		28,198		22,023
Total stock-based compensation expense	$	13,969	$	13,516	$	40,759	$	34,241

RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME
(Unaudited, in thousands, except per share amounts)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Net income	$	23,642		$	14,373		$	53,132		$	36,146
Net income as a percentage of revenue		18.3	%		13.5	%		15.6	%		12.7	%

Adjustments to reconcile net income to non-GAAP net income:
Stock-based compensation expense		13,969			13,516			40,759			34,241
Amortization of acquisition-related intangible assets		513			513			1,538			1,538
Deferred compensation plan expense (income)		(50	)		(70	)		90			(218	)
Tax effect		(1,519	)		(823	)		(4,285	)		(2,901	)
Non-GAAP net income	$	36,555		$	27,509		$	91,234		$	68,806
Non-GAAP net income as a percentage of revenue		28.4	%		25.8	%		26.7	%		24.1	%

Non-GAAP net income per share:
Basic	$	0.88		$	0.68		$	2.21		$	1.71
Diluted	$	0.84		$	0.66		$	2.10		$	1.65

Shares used in the calculation of non-GAAP net income per share:
Basic		41,458			40,590			41,276			40,335
Diluted		43,486			41,895			43,384			41,752

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