Monolithic Power Systems Announces Results for the First Quarter Ended March 31, 2021

 
Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts)
 
   Three Months Ended March 31, 
   2021   2020 
Revenue $254,455  $165,778 
Cost of revenue  113,396   74,331 
Gross profit  141,059   91,447 
Operating expenses:        
Research and development  41,892   25,956 
Selling, general and administrative  51,453   32,164 
Litigation expense  1,628   2,341 
Total operating expenses  94,973   60,461 
Income from operations  46,086   30,986 
Other income (expense), net  2,587   (1,714)
Income before income taxes  48,673   29,272 
Income tax expense (benefit)  3,260   (6,484)
Net income $45,413  $35,756 
         
Net income per share:                
Basic   $ 1.00     $ 0.80  
Diluted   $ 0.95     $ 0.77  
Weighted-average shares outstanding:                
Basic     45,498       44,455  
Diluted     47,711       46,670  
                 

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