Monolithic Power Systems Announces Results for the Second Quarter Ended June 30, 2016

SAN JOSE, Calif., July 25, 2016 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (MPS) (Nasdaq:MPWR), a leading company in high performance power solutions, today announced financial results for the quarter and six months ended June 30, 2016.

The results for the quarter ended June 30, 2016 are as follows:

  • Revenue was $94.1 million, an 11.3% increase from $84.5 million in the first quarter of 2016 and a 15.6% increase from $81.4 million in the second quarter of 2015.
  • GAAP gross margin was 54.1% compared with 54.2% in the second quarter of 2015.
  • Non-GAAP gross margin(1) was 55.1%, excluding the impact of $0.4 million for stock-based compensation expense and $0.5 million for the amortization of acquisition-related intangible assets, compared with 55.0% in the second quarter of 2015, excluding the impact of $0.3 million for stock-based compensation expense and $0.4 million for the amortization of acquisition-related intangible assets.
  • GAAP operating expenses were $39.4 million compared with $34.0 million for the quarter ended June 30, 2015.
  • Non-GAAP(1) operating expenses were $27.7 million, excluding $11.4 million for stock-based compensation expense and $0.3 million for deferred compensation plan expense, compared with $25.0 million, excluding $9.2 million for stock-based compensation expense and $0.2 million for deferred compensation plan income, for the quarter ended June 30, 2015.
  • GAAP operating income was $11.5 million compared with $10.1 million for the quarter ended June 30, 2015.
  • Non-GAAP(1) operating income was $24.1 million, excluding $11.8 million for stock-based compensation expense, $0.5 million for the amortization of acquisition-related intangible assets and $0.3 million for deferred compensation plan expense, compared with $19.8 million, excluding $9.5 million for stock-based compensation expense, $0.4 million for the amortization of acquisition-related intangible assets and $0.2 million for deferred compensation plan income, for the quarter ended June 30, 2015.
  • Interest and other income, net was $0.6 million compared with $0.2 million for the quarter ended June 30, 2015.
  • Non-GAAP(1) interest and other income, net was $0.3 million, excluding $0.3 million for deferred compensation plan income, compared with $0.4 million, excluding $0.2 million for deferred compensation plan expense, for the quarter ended June 30, 2015.
  • GAAP net income was $11.2 million and GAAP earnings per share were $0.27 per diluted share. Comparatively, GAAP net income was $7.9 million and GAAP earnings per share were $0.19 per diluted share for the quarter ended June 30, 2015.
  • Non-GAAP(1) net income was $22.6 million and non-GAAP earnings per share were $0.54 per diluted share, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan income and related tax effects, compared with non-GAAP net income of $18.8 million and non-GAAP earnings per share of $0.46 per diluted share, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan expense and related tax effects, for the quarter ended June 30, 2015.

The results for the six months ended June 30, 2016 are as follows:

  • Revenue was $178.6 million, a 15.3% increase from $155.0 million for the six months ended June 30, 2015.
  • GAAP gross margin was 54.0% compared with 54.1% for the six months ended June 30, 2015.
  • Non-GAAP gross margin(1) was 55.0%, excluding the impact of $0.8 million for stock-based compensation expense and $1.0 million for the amortization of acquisition-related intangible assets, compared with 54.9% for the six months ended June 30, 2015, excluding the impact of $0.5 million for stock-based compensation expense and $0.7 million for the amortization of acquisition-related intangible assets.
  • GAAP operating expenses were $74.5 million compared with $67.8 million for the six months ended June 30, 2015.
  • Non-GAAP(1) operating expenses were $54.2 million, excluding $19.9 million for stock-based compensation expense and $0.4 million for deferred compensation plan expense, compared with $49.6 million, excluding $18.2 million for stock-based compensation expense, for the six months ended June 30, 2015.
  • GAAP operating income was $21.9 million compared with $16.0 million for the six months ended June 30, 2015.
  • Non-GAAP(1) operating income was $44.1 million, excluding $20.8 million for stock-based compensation expense, $1.0 million for the amortization of acquisition-related intangible assets and $0.4 million for deferred compensation plan expense, compared with $35.4 million, excluding $18.7 million for stock-based compensation expense and $0.7 million for the amortization of acquisition-related intangible assets, for the six months ended June 30, 2015.
  • Interest and other income, net was $1.1 million compared with $0.9 million for the six months ended June 30, 2015.
  • Non-GAAP(1) interest and other income, net was $0.5 million, excluding $0.6 million for deferred compensation plan income, compared with $1.0 million, excluding $0.1 million for deferred compensation plan expense, for the six months ended June 30, 2015.
  • GAAP net income was $21.8 million and GAAP earnings per share were $0.52 per diluted share. Comparatively, GAAP net income was $13.9 million and GAAP earnings per share were $0.34 per diluted share for the six months ended June 30, 2015.
  • Non-GAAP(1) net income was $41.3 million and non-GAAP earnings per share were $0.99 per diluted share, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan income and related tax effects, compared with non-GAAP net income of $33.7 million and non-GAAP earnings per share of $0.83 per diluted share, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan expense and related tax effects, for the six months ended June 30, 2015.

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

          
    Three Months Ended June 30,  Six Months Ended June 30,
  End Market   2016    2015    2016    2015 
 Communication $14.6  $17.1  $31.5  $34.4 
 Storage and Computing  18.3   12.6   33.7   24.0 
  Consumer     38.3       35.5       72.1       67.0  
  Industrial     22.9       16.2       41.3       29.6  
  Total   $ 94.1     $ 81.4     $ 178.6     $ 155.0  
                   

1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article
DAC 2020

 True Circuits: Ultra PLL

Featured Video
Latest Blog Posts
Modesto (Mo) CasasGlobal Business in EDA
by Modesto (Mo) Casas
The Contingent Purchase Order Reassures Buyer and Seller
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
Meet the New Cylynt, Fighting Software Piracy Around the Globe
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Smart Assembly of SoC Designs
Jobs
Senior Analog Design Engineers #5337 for EDA Careers at EAST COAST, California
Senior Physical Design/Layout Engineer for EDA Careers at EAST COAST, California
Digital Design ASIC Manager for EDA Careers at RTP, North Carolina
Senior Application Engineer Formal Verification for EDA Careers at San Jose and Austin, California
Upcoming Events
57th Design Automation Conference 2020 at San Francisco CA - Jul 19 - 23, 2020
SEMICON West 2020 - Virtual Event at - Jul 20 - 23, 2020
Semicon Southeast Asia 2020 at MITEC Kuala Lumpur Malaysia - Aug 11 - 13, 2020
Drive World Conference & Expo at Santa Clara Convention Center Santa Clara CA - Aug 11 - 13, 2020



© 2020 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