Monolithic Power Systems Announces Results for the Second Quarter Ended June 30, 2023
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Monolithic Power Systems, Inc. | |
Condensed Consolidated Statements of Operations | | (Unaudited, in thousands, except per share amounts) | | | | | |
Three Months Ended June 30, | | |
Six Months Ended June 30, | | | | |
2023 | | |
2022 | | |
2023 | | |
2022 | | | Revenue | | $ | 441,128 | | | $ | 461,004 | | | $ | 892,193 | | | $ | 838,718 | | | Cost of revenue | | | 193,453 | | | | 190,043 | | | | 385,738 | | | | 348,877 | | | Gross profit | | | 247,675 | | | | 270,961 | | | | 506,455 | | | | 489,841 | | | Operating expenses: | | | | | | | | | | | | | | | | | | Research and development | | | 63,688 | | | | 57,131 | | | | 127,397 | | | | 111,234 | | | Selling, general and administrative | | | 71,662 | | | | 71,942 | | | | 142,457 | | | | 140,585 | | | Total operating expenses | | | 135,350 | | | | 129,073 | | | | 269,854 | | | | 251,819
| | | Operating income | | | 112,325 | | | | 141,888 | | | | 236,601 | | | | 238,022
| | | Other income (expense), net | | | 6,543 | | | | (5,092 | ) | | | 11,840 | | | | (5,726
| ) | | Income before income taxes | | | 118,868 | | | | 136,796 | | | | 248,441 | | | | 232,296 | | | Income tax expense | | | 19,364 | | | | 22,117 | | | | 39,135 | | | | 38,051
| | | Net income | | $ | 99,504 | | | $ | 114,679 | | | $ | 209,306 | | | $ | 194,245
| | | | | | | | | | | | | | | | | | | | | Net income per share: | | | | | | | | | | | | | | | | | | Basic | | $ | 2.10 | | | $ | 2.46 | | | $ | 4.42 | | | $ | 4.17 | | | Diluted | | $ | 2.04 | | | $ | 2.37 | | | $ | 4.30 | | | $ | 4.02 | | | Weighted-average shares outstanding: | | | | | | | | | | | | | | | | | | Basic | | | 47,489 | | | | 46,675 | | | | 47,361 | | | | 46,550 | | | Diluted | | | 48,756 | | | | 48,286 | | | | 48,705 | | | | 48,268 | | | | | | | | | | | | | | | | | | | |
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