Monolithic Power Systems Announces Results for the First Quarter Ended March 31, 2024
Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts) | | | | |
Three Months Ended March 31, | | | |
2024 | | |
2023 | | | Revenue | $ | 457,885 | | | $ | 451,065 | | | Cost of revenue | | 205,444 | | | | 192,285 | | | Gross profit | | 252,441 | | | | 258,780 | | | Operating expenses: | | | | | | | | | Research and development | | 75,990 | | | | 63,709 | | | Selling, general and administrative | | 80,964 | | | | 70,795 | | | Total operating expenses | | 156,954 | | | | 134,504 | | | Operating income | | 95,487 | | | | 124,276 | | | Other income, net | | 9,540 | | | | 5,297 | | | Income before income taxes | | 105,027 | | | | 129,573 | | | Income tax expense | | 12,486 | | | | 19,771 | | | Net income | $ | 92,541 | | | $ | 109,802 | | | | | | | | | | | | Net income per share: | | | | | | | | | Basic | $ | 1.90 | | | $ | 2.32 | | | Diluted | $ | 1.89 | | | $ | 2.26 | | | Weighted-average shares outstanding: | | | | | | | | | Basic | | 48,635 | | | | 47,234 | | | Diluted | | 48,928 | | | | 48,655 | | | | | | | | | | |
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