Monolithic Power Systems Announces Results for the Second Quarter Ended June 30, 2020

About Monolithic Power Systems
Monolithic Power Systems, Inc. (MPS) provides small, highly energy efficient, easy-to-use power solutions for systems found in industrial applications, telecom infrastructures, cloud computing, automotive, and consumer applications. MPS' mission is to reduce total energy consumption in its customers' systems with green, practical, compact solutions. The company was founded by Michael Hsing in 1997 and is based in the United States. MPS can be contacted through its website at www.monolithicpower.com or its support offices around the world.

Monolithic Power Systems, MPS, and the MPS logo are registered trademarks of Monolithic Power Systems, Inc. in the U.S. and trademarked in certain other countries.

Contact:
Bernie Blegen
Chief Financial Officer
Monolithic Power Systems, Inc.
408-826-0777
investors@monolithicpower.com


Monolithic Power Systems, Inc.
Condensed Consolidated Balance Sheets
(Unaudited, in thousands, except par value)  

   June 30,   December 31, 
   2020   2019 
ASSETS              
Current assets:        
Cash and cash equivalents $156,483  $172,960 
Short-term investments  355,840   282,437 
Accounts receivable, net  55,136   52,704 
Inventories  152,119   127,500 
Other current assets  29,286   19,605 
Total current assets  748,864   655,206 
Property and equipment, net  251,980   228,315 
Long-term investments  3,032   3,138 
Goodwill  6,571   6,571 
Deferred tax assets, net  13,432   17,193 
Other long-term assets  47,276   45,952 
Total assets   $ 1,071,155     $ 956,375  
                 
LIABILITIES AND STOCKHOLDERS’ EQUITY                
Current liabilities:                
Accounts payable   $ 45,169     $ 27,271  
Accrued compensation and related benefits     32,785       26,164  
Other accrued liabilities     58,831       44,790  
Total current liabilities     136,785       98,225  
Income tax liabilities     35,624       37,596  
Other long-term liabilities     49,801       47,063  
Total liabilities     222,210       182,884  
Commitments and contingencies                
Stockholders’ equity:                
Common stock and additional paid-in capital: $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 44,911 and 43,616, respectively     605,165       549,517  
Retained earnings     247,864       229,450  
Accumulated other comprehensive loss     (4,084 )     (5,476 )
Total stockholders’ equity     848,945       773,491  
Total liabilities and stockholders’ equity   $ 1,071,155     $ 956,375  

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