Exhibit 99.1

 

 

PRESS RELEASE

  For Immediate Release

 

 

 

Monolithic Power Systems Announces Results

for the First Quarter Ended March 31, 2019

 

 

KIRKLAND, WASHINGTON, May 2, 2019--Monolithic Power Systems, Inc. (MPS) (Nasdaq: MPWR), a leading company in high performance analog solutions, today announced financial results for the quarter ended March 31, 2019.

 

 

Revenue was $141.4 million for the quarter ended March 31, 2019, a 7.9% decrease from $153.5 million for the quarter ended December 31, 2018 and a 9.5% increase from $129.2 million for the quarter ended March 31, 2018.

     
 

GAAP gross margin was 55.2% for the quarter ended March 31, 2019, compared with 55.4% for the quarter ended March 31, 2018.

     
 

Non-GAAP (1) gross margin was 55.6% for the quarter ended March 31, 2019, excluding the impact of $0.5 million for stock-based compensation expense and $0.1 million for the amortization of acquisition-related intangible assets, compared with 55.9% for the quarter ended March 31, 2018, excluding the impact of $0.4 million for stock-based compensation expense and $0.3 million for the amortization of acquisition-related intangible assets.

     
 

GAAP operating expenses were $56.3 million for the quarter ended March 31, 2019, compared with $49.5 million for the quarter ended March 31, 2018.

     
 

Non-GAAP (1) operating expenses were $39.0 million for the quarter ended March 31, 2019, excluding $15.5 million for stock-based compensation expense and $1.8 million for deferred compensation plan expense, compared with $35.0 million for the quarter ended March 31, 2018, excluding $14.6 million for stock-based compensation expense and $0.1 million for deferred compensation plan income.

     
 

GAAP operating income was $21.7 million for the quarter ended March 31, 2019, compared with $22.0 million for the quarter ended March 31, 2018.

     
 

Non-GAAP (1) operating income was $39.6 million for the quarter ended March 31, 2019, excluding $16.0 million for stock-based compensation expense, $0.1 million for the amortization of acquisition-related intangible assets and $1.8 million for deferred compensation plan expense, compared with $37.2 million for the quarter ended March 31, 2018, excluding $15.0 million for stock-based compensation expense, $0.3 million for the amortization of acquisition-related intangible assets and $0.1 million for deferred compensation plan income.

     
 

GAAP interest and other income, net was $3.3 million for the quarter ended March 31, 2019, compared with $0.4 million for the quarter ended March 31, 2018.

     
 

Non-GAAP (1) interest and other income, net was $1.4 million for the quarter ended March 31, 2019, excluding $1.9 million for deferred compensation plan income, compared with $0.6 million for the quarter ended March 31, 2018, excluding $0.2 million for deferred compensation plan expense.

     
 

GAAP income before income taxes was $25.1 million for the quarter ended March 31, 2019, compared with $22.5 million for the quarter ended March 31, 2018.

     
 

Non-GAAP (1) income before income taxes was $41.0 million for the quarter ended March 31, 2019, excluding $16.0 million for stock-based compensation expense, $0.1 million for the amortization of acquisition-related intangible assets and $0.1 million for deferred compensation plan income, compared with $37.8 million for the quarter ended March 31, 2018, excluding $15.0 million for stock-based compensation expense and $0.3 million for the amortization of acquisition-related intangible assets.

     
 

GAAP net income was $26.2 million and GAAP earnings per share were $0.58 per diluted share for the quarter ended March 31, 2019. Comparatively, GAAP net income was $21.9 million and GAAP earnings per share were $0.49 per diluted share for the quarter ended March 31, 2018.

     
 

Non-GAAP (1) net income was $37.9 million and non-GAAP earnings per share were $0.84 per diluted share for the quarter ended March 31, 2019, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan income and related tax effects, compared with non-GAAP net income of $35.0 million and non-GAAP earnings per share of $0.79 per diluted share for the quarter ended March 31, 2018, excluding stock-based compensation income, amortization of acquisition-related intangible assets, net deferred compensation plan expense and related tax effects.

 

 

The following information was filed by Monolithic Power Systems Inc (MPWR) on Thursday, May 2, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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