Monolithic Power Systems Announces Results For the First Quarter Ended March 31, 2014

SAN JOSE, Calif., April 24, 2014 — (PRNewswire) —  Monolithic Power Systems (MPS) (Nasdaq: MPWR), a leading fabless manufacturer of high-performance analog and mixed-signal semiconductors, today announced financial results for the quarter ended March 31, 2014.

The results for the quarter ended March 31, 2014 are as follows:

  • Net revenue was $60.1 million, a 5.5% decrease from $63.6 million in the fourth quarter of 2013 and a 16.7% increase from $51.5 million in the first quarter of 2013.
  • GAAP gross margin was 53.4%, compared with 53.2% in the first quarter of 2013, which included $0.2 million for stock-based compensation expenses for both periods.
  • Non-GAAP gross margin(1) was 53.8%, compared with 53.5% in the first quarter of 2013, which excluded $0.2 million for stock-based compensation expenses for both periods.
  • GAAP operating expenses were $23.0 million, including $31.7 million for research and development (R&D) and selling, general and administrative (SG&A) expenses, which included $7.4 million for stock-based compensation and deferred compensation plan expenses, and $(8.7) million for litigation benefit. Comparatively, for the quarter ended March 31, 2013, GAAP operating expenses were $25.1 million, including $25.4 million for R&D and SG&A expenses, which included $4.5 million for stock-based compensation expenses, and $(0.3) million for litigation benefit.
  • For the quarter ended March 31, 2014, MPS recognized a $9.0 million net litigation benefit from the settlement of the O2 Micro lawsuit. In conjunction with the recognition of this benefit, MPS recorded a one-time special non-executive employee bonus accrual of $3.1 million, of which $0.3 million was recorded in cost of revenue and $2.8 million was recorded in operating expenses.
  • Non-GAAP(1) operating expenses were $15.6 million, excluding $7.4 million for stock-based compensation and deferred compensation plan expenses, compared with $20.6 million, excluding $4.5 million for stock-based compensation expenses, for the quarter ended March 31, 2013.
  • GAAP net income was $9.0 million and GAAP earnings per share were $0.23 per diluted share. Comparatively, GAAP net income was $2.5 million and GAAP earnings per share were $0.07 per diluted share for the quarter ended March 31, 2013.
  • Non-GAAP(1) net income was $15.6 million and non-GAAP earnings per share were $0.39 per diluted share, excluding stock-based compensation expenses, net deferred compensation plan income and related tax effects, compared with non-GAAP net income of $6.4 million and non-GAAP earnings per share of $0.17 per diluted share, excluding stock-based compensation expenses and related tax effects, for the quarter ended March 31, 2013.

The following is a summary of revenue by end market for the periods indicated, estimated based on the Company's assessment of available end market data (in millions):



Three Months Ended March 31,

End Market


2014


2013

Communication


$                        13.6


$                        13.3

Storage and Computing


10.6


12.2

Consumer


26.1


18.8

Industrial


9.8


7.2

Total


$                        60.1


$                        51.5

The following is a summary of revenue by product family for the periods indicated (in millions):



Three Months Ended March 31,

Product Family


2014


2013

DC to DC 


$                     54.0


$                     46.5

Lighting Control 


6.1


5.0

Total 


$                     60.1


$                     51.5


1 | 2 | 3  Next Page »



Review Article Be the first to review this article
Downstream : Solutuions for Post processing PCB Designs

Featured Video
Jobs
Senior Software Architect Internet for EDA Careers at San Jose, California
Senior Account Manager… FORMAL VERIFICATION...VALLEY for EDA Careers at San Jose, California
Sr. R&D SW Developer  for EDA Careers at Bay Area, California
Senior Software 11 Engineer – MCAD…Valley for EDA Careers at San Jose, California
Ecommerce Account Manager for Bright Atlas LLC at Miami Gardens, Florida
Upcoming Events
SEMICON Japan 2019 at Tokyo Big Sight Tokyo Japan - Dec 11 - 13, 2019
VLSID 2020 at The Leela Palace 23, HAL Old Airport Rd, HAL 2nd Stage, Kodihalli, Bengaluru India - Jan 4 - 8, 2020
CES 2020 at LAS VEGAS NV - Jan 7 - 10, 2020
INDUSTRY STRATEGY SYMPOSIUM—ISS 2020 at The Ritz Carlton Half Moon Bay CA - Jan 15 - 20, 2020
DownStream: Solutions for Post Processing PCB Designs
Verific: SystemVerilog & VHDL Parsers
TrueCircuits: UltraPLL
call for Contribution



Internet Business Systems © 2019 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise