Exhibit 99.1

 

 

PRESS RELEASE 

For Immediate Release 

 

 

 

Monolithic Power Systems Announces Results

for the Fourth Quarter and Year Ended December 31, 2018,

and an Increase in Quarterly Cash Dividend

 

KIRKLAND, WASHINGTON, February 12, 2019--Monolithic Power Systems, Inc. (MPS) (Nasdaq: MPWR), a leading company in high performance analog solutions, today announced financial results for the quarter and year ended December 31, 2018. The Company also announced that its Board of Directors has approved an increase in the quarterly cash dividend from $0.30 per share to $0.40 per share. The first quarter dividend of $0.40 per share will be paid on April 15, 2019 to all stockholders of record as of the close of business on March 29, 2019.

 

The results for the quarter ended December 31, 2018 are as follows:

 

 

Revenue was $153.5 million for the quarter ended December 31, 2018, a 4.0% decrease from $160.0 million for the quarter ended September 30, 2018 and an 18.6% increase from $129.4 million for the quarter ended December 31, 2017.

 

GAAP gross margin was 55.1% for the quarter ended December 31, 2018, compared with 55.0% for the quarter ended December 31, 2017.

 

Non-GAAP (1) gross margin was 55.6% for the quarter ended December 31, 2018, excluding the impact of $0.5 million for stock-based compensation expense and $0.2 million for the amortization of acquisition-related intangible assets, compared with 55.7% for the quarter ended December 31, 2017, excluding the impact of $0.4 million for stock-based compensation expense and $0.5 million for the amortization of acquisition-related intangible assets.

 

GAAP operating expenses were $51.5 million for the quarter ended December 31, 2018, compared with $46.1 million for the quarter ended December 31, 2017.

 

Non-GAAP (1) operating expenses were $38.7 million for the quarter ended December 31, 2018, excluding $14.3 million for stock-based compensation expense and $1.5 million for deferred compensation plan income, compared with $33.9 million for the quarter ended December 31, 2017, excluding $11.5 million for stock-based compensation expense and $0.8 million for deferred compensation plan expense.

 

GAAP operating income was $33.1 million for the quarter ended December 31, 2018, compared with $25.1 million for the quarter ended December 31, 2017.

 

Non-GAAP (1) operating income was $46.6 million for the quarter ended December 31, 2018, excluding $14.8 million for stock-based compensation expense, $0.2 million for the amortization of acquisition-related intangible assets and $1.5 million for deferred compensation plan income, compared with $38.2 million for the quarter ended December 31, 2017, excluding $11.9 million for stock-based compensation expense, $0.5 million for the amortization of acquisition-related intangible assets and $0.8 million for deferred compensation plan expense.

 

GAAP interest and other expense, net was $0.4 million for the quarter ended December 31, 2018, compared with interest and other income, net of $1.6 million for the quarter ended December 31, 2017.

 

Non-GAAP (1) interest and other income, net was $1.6 million for the quarter ended December 31, 2018, excluding $2.0 million for deferred compensation plan expense, compared with $1.0 million for the quarter ended December 31, 2017, excluding $0.6 million for deferred compensation plan income.

 

GAAP income before income taxes was $32.7 million for the quarter ended December 31, 2018, compared with $26.7 million for the quarter ended December 31, 2017.

 

Non-GAAP (1) income before income taxes was $48.2 million for the quarter ended December 31, 2018, excluding $14.8 million for stock-based compensation expense, $0.2 million for the amortization of acquisition-related intangible assets and $0.5 million for deferred compensation plan expense, compared with $39.2 million for the quarter ended December 31, 2017, excluding $11.9 million for stock-based compensation expense, $0.5 million for the amortization of acquisition-related intangible assets, and $0.1 million for deferred compensation plan expense.

 

GAAP net income was $27.6 million and GAAP earnings per share were $0.61 per diluted share for the quarter ended December 31, 2018. Comparatively, GAAP net income was $12.1 million and GAAP earnings per share were $0.27 per diluted share for the quarter ended December 31, 2017.

 

 

The following information was filed by Monolithic Power Systems Inc (MPWR) on Tuesday, February 12, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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