Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2019
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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, | | |
2019 | |
2018 | |
2019 | |
2018 | | Revenue | $ | 168,813 | | $ | 159,975 | | $ | 461,183 | | $ | 428,885 | | Cost of revenue | | 75,655 | | | 70,957 | | | 206,794 | | | 190,810 | | Gross profit | | 93,158 | | | 89,018 | | | 254,389 | | | 238,075 | | Operating expenses: | | | | | | | | | | | | | Research and development | | 27,742 | | | 25,630 | | | 80,746 | | | 70,720 | | Selling, general and administrative | | 34,692 | | | 29,552 | | | 100,302 | | | 85,431 | | Litigation expense | | 692 | | | 343 | | | 1,473 | | | 1,513 | | Total operating expenses | | 63,126 | | | 55,525 | | | 182,521 | | | 157,664 | | Income from operations | | 30,032 | | | 33,493 | | | 71,868 | | | 80,411 | | Interest and other income, net | | 2,257 | | | 2,714 | | | 7,827 | | | 5,387 | | Income before income taxes | | 32,289 | | | 36,207 | | | 79,695 | | | 85,798 | | Income tax expense | | 2,761 | | | 4,639 | | | 3,293 | | | 8,168 | | Net income | $ | 29,528 | | $ | 31,568 | | $ | 76,402 | | $ | 77,630 | | | | | | | | | | | | | | | Net income per share: | | | | | | | | | | | | | Basic | $ | 0.68 | | $ | 0.75 | | $ | 1.77 | | $ | 1.84 | | Diluted | $ | 0.64 | | $ | 0.71 | | $ | 1.68 | | $ | 1.75 | | Weighted-average shares outstanding: | | | | | | | | | | | | | Basic | | 43,308 | | | 42,362 | | | 43,055 | | | 42,173 | | Diluted | | 45,833 | | | 44,669 | | | 45,516 | | | 44,450 | | |
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