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



Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts)

   Three Months Ended June 30,   Six Months Ended June 30, 
   2020   2019   2020   2019 
Revenue $186,209  $151,007  $351,987  $292,370 
Cost of revenue  83,616   67,782   157,947   131,139 
Gross profit  102,593   83,225   194,040   161,231 
Operating expenses:                
Research and development  31,673   27,545   57,629   53,003 
Selling, general and administrative  40,883   35,058   73,047   65,611 
Litigation expense  2,082   503   4,423   781 
Total operating expenses   74,638       63,106       135,099       119,395  
Income from operations     27,955       20,119       58,941       41,836  
Other income, net     5,200       2,229       3,486       5,569  
Income before income taxes     33,155       22,348       62,427       47,405  
Income tax expense (benefit)     2,988       1,655       (3,495 )     531  
Net income   $ 30,167     $ 20,693     $ 65,922     $ 46,874  
                                 
Net income per share:                                
Basic   $ 0.67     $ 0.48     $ 1.48     $ 1.09  
Diluted   $ 0.64     $ 0.45     $ 1.41     $ 1.03  
Weighted-average shares outstanding:                                
Basic     44,785       43,109       44,620       42,929  
Diluted     46,831       45,483       46,750       45,358  

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