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
HP

SolidCAM: Program your CNCs directly inside your existing CAD system.

Featured Video
Editorial
Jeff RoweJeff's MCAD Blogging
by Jeff Rowe
Major Autodesk Disruption: Carl Bass Resigns
Jobs
Inside Sales for SolidCAM at Newtown, PA
Director of Mechanical Engineering for Velodyne LIDAR at Morgan Hill, CA
Sr. GIS Technical Analyst for Southern California Edison SCE Transmission and Distribution Organization at Rosemead, CA
Project Architect for LAMBERT Architecture and Interiors at Winston-Salem, NC
Imagery Analyst for ARA at Albuquerque, NM -1229, NM
Upcoming Events
SOLIDWORKS 2017 Launch Event – Dudley at The Conference Hub, Dudley College of Technology, DY1 4AS Dudley United Kingdom - Feb 22, 2017
DriveWorks World at The Barley Store Laskey Lane Thelwall Cheshire United Kingdom - Mar 6 - 9, 2017
JEC World 2017 at Paris Nord Villepinte Exhibition Centre Paris France - Mar 14 - 16, 2017
SOLIDWORKS funding event – Leicester at The National Space Centre, Exploration Dr, Leicester, LE4 5NS Leicester United Kingdom - Mar 17, 2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise