Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2020

KIRKLAND, Wash., Oct. 29, 2020 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (MPS) (Nasdaq: MPWR), a leading company in high performance analog solutions, today announced financial results for the quarter ended September 30, 2020. 

  • Revenue was $259.4 million for the quarter ended September 30, 2020, a 39.3% increase from $186.2 million for the quarter ended June 30, 2020 and a 53.7% increase from $168.8 million for the quarter ended September 30, 2019.

  • GAAP gross margin was 55.1% for the quarter ended September 30, 2020, compared with 55.2% for the quarter ended September 30, 2019.

  • Non-GAAP (1) gross margin was 55.5% for the quarter ended September 30, 2020, excluding the impact of $0.7 million for stock-based compensation expense and $0.2 million for deferred compensation plan expense, compared with 55.6% for the quarter ended September 30, 2019, excluding the impact of $0.6 million for stock-based compensation expense.

  • GAAP operating expenses were $83.1 million for the quarter ended September 30, 2020, compared with $63.1 million for the quarter ended September 30, 2019.

  • Non-GAAP (1) operating expenses were $59.1 million for the quarter ended September 30, 2020, excluding $22.3 million for stock-based compensation expense and $1.7 million for deferred compensation plan expense, compared with $42.5 million for the quarter ended September 30, 2019, excluding $20.7 million for stock-based compensation expense.

  • GAAP operating income was $60.0 million for the quarter ended September 30, 2020, compared with $30.0 million for the quarter ended September 30, 2019.

  • Non-GAAP (1) operating income was $84.9 million for the quarter ended September 30, 2020, excluding $23.0 million for stock-based compensation expense and $1.9 million for deferred compensation plan expense, compared with $51.4 million for the quarter ended September 30, 2019, excluding $21.3 million for stock-based compensation expense.

  • GAAP other income, net, was $2.5 million for the quarter ended September 30, 2020, compared with $2.3 million for the quarter ended September 30, 2019.

  • Non-GAAP (1) other income, net, was $0.9 million for the quarter ended September 30, 2020, excluding $1.6 million for deferred compensation plan income, compared with $2.2 million for the quarter ended September 30, 2019, excluding $0.1 million for deferred compensation plan income.

  • GAAP income before income taxes was $62.5 million for the quarter ended September 30, 2020, compared with $32.3 million for the quarter ended September 30, 2019.

  • Non-GAAP (1) income before income taxes was $85.8 million for the quarter ended September 30, 2020, excluding $23.0 million for stock-based compensation expense and $0.3 million for deferred compensation plan expense, compared with $53.5 million for the quarter ended September 30, 2019, excluding $21.3 million for stock-based compensation expense, and $0.1 million for deferred compensation plan income.

  • GAAP net income was $55.6 million and $1.18 per diluted share for the quarter ended September 30, 2020. Comparatively, GAAP net income was $29.5 million and $0.64 per diluted share for the quarter ended September 30, 2019.

  • Non-GAAP (1) net income was $79.4 million and $1.69 per diluted share for the quarter ended September 30, 2020, excluding stock-based compensation expense, net deferred compensation plan expense and related tax effects, compared with non-GAAP net income of $49.5 million and $1.08 per diluted share for the quarter ended September 30, 2019, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan income and related tax effects.

The financial results for the nine months ended September 30, 2020 are as follows:

  • Revenue was $611.4 million for the nine months ended September 30, 2020, a 32.6% increase from $461.2 million for the nine months ended September 30, 2019.

  • GAAP gross margin was 55.1% for the nine months ended September 30, 2020, compared with 55.2% for the nine months ended September 30, 2019.

  • Non-GAAP (1) gross margin was 55.5% for the nine months ended September 30, 2020, excluding the impact of $1.9 million for stock-based compensation expense and $0.7 million for deferred compensation plan expense, compared with 55.6% for the nine months ended September 30, 2019, excluding the impact of $1.8 million for stock-based compensation expense and $0.1 million for the amortization of acquisition-related intangible assets.

  • GAAP operating expenses were $218.2 million for the nine months ended September 30, 2020, compared with $182.5 million for the nine months ended September 30, 2019.

  • Non-GAAP (1) operating expenses were $155.8 million for the nine months ended September 30, 2020, excluding $60.7 million for stock-based compensation expense and $1.7 million for deferred compensation plan expense, compared with $121.8 million for the nine months ended September 30, 2019, excluding $58.2 million for stock-based compensation expense and $2.6 million for deferred compensation plan expense.

  • GAAP operating income was $118.9 million for the nine months ended September 30, 2020, compared with $71.9 million for the nine months ended September 30, 2019.

  • Non-GAAP (1) operating income was $183.8 million for the nine months ended September 30, 2020, excluding $62.6 million for stock-based compensation expense and $2.3 million for deferred compensation plan expense, compared with $134.6 million for the nine months ended September 30, 2019, excluding $60.0 million for stock-based compensation expense, $0.1 million for the amortization of acquisition-related intangible assets and $2.6 million for deferred compensation plan expense.

  • GAAP other income, net, was $6.0 million for the nine months ended September 30, 2020, compared with $7.8 million for the nine months ended September 30, 2019.

  • Non-GAAP (1) other income, net, was $4.6 million for the nine months ended September 30, 2020, excluding $1.4 million for deferred compensation plan income, compared with $5.2 million for the nine months ended September 30, 2019, excluding $2.6 million for deferred compensation plan income.

  • GAAP income before income taxes was $124.9 million for the nine months ended September 30, 2020, compared with $79.7 million for the nine months ended September 30, 2019.

  • Non-GAAP (1) income before income taxes was $188.4 million for the nine months ended September 30, 2020, excluding $62.6 million for stock-based compensation expense and $0.9 million for deferred compensation plan expense, compared with $139.8 million for the nine months ended September 30, 2019, excluding $60.0 million for stock-based compensation expense, and $0.1 million for the amortization of acquisition-related intangible assets.

  • GAAP net income was $121.5 million and $2.59 per diluted share for the nine months ended September 30, 2020. Comparatively, GAAP net income was $76.4 million and $1.68 per diluted share for the nine months ended September 30, 2019.

  • Non-GAAP (1) net income was $174.3 million and $3.72 per diluted share for the nine months ended September 30, 2020, excluding stock-based compensation expense, net deferred compensation plan expense and related tax effects, compared with non-GAAP net income of $129.3 million and $2.84 per diluted share for the nine months ended September 30, 2019, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan income and related tax effects.

The following is a summary of revenue by end market for the periods indicated (in thousands):

   Three Months Ended
September 30,
   Nine Months Ended
September 30,
End Market  2020   2019   2020     2019
Computing and storage   $ 75,301     $ 52,793     $ 191,345     $ 133,571
Automotive     28,512       24,432       69,603       66,174
Industrial     30,658       28,862       82,487       72,640
Communications     54,705       18,778       112,670       62,928
Consumer     70,246       43,948       155,304       125,870
Total   $ 259,422     $ 168,813     $ 611,409     $ 461,183

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

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11  Next Page »



Review Article Be the first to review this article
Aldec


Featured Video
Editorial
More Editorial  
Latest Blog Posts
Modesto (Mo) CasasGlobal Business in EDA
by Modesto (Mo) Casas
Focus a Global Reseller Channel on Your Product
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Functional Safety and Security in Embedded Systems
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
Phil Kaufman Award Goes on Hiatus for 2020
Colin WallsEmbedded Software
by Colin Walls
Why develop embedded software bottom up?
Jobs
ASIC Design Integration Engineer for Apple Inc at Cupertino, California
Senior Java Developer/Architect for EDA Careers at Varies, North Carolina
ASIC Design Engineer, for Apple Inc at Cupertino, California
Product Line Manager for EDA Careers at Multiple, North Carolina
Technical Marketing Mmanager for EDA Careers at Fremont, California
ASIC Engineer for Amazon at seattle, Washington
Upcoming Events
RISC-V Summit 2020. at United States - Dec 7 - 10, 2020
SEMICON Japan 2020 Goes Virtual at Japan - Dec 11 - 18, 2020
virtual DATE 2021 at France - Feb 1 - 5, 2021
IPC APEX EXPO 2021 at San Diego Convention Center san diego - Mar 6 - 11, 2021
DownStream: Solutions for Post Processing PCB Designs
Verific: SystemVerilog & VHDL Parsers
TrueCircuits:



© 2020 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+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