Monolithic Power Systems Announces Results for the First Quarter Ended March 31, 2021
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Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts) | | | | | |
Three Months Ended March 31, | | | | |
2021 | | |
2020 | | | Revenue | | $ | 254,455 | | | $ | 165,778 | | | Cost of revenue | | | 113,396 | | | | 74,331 | | | Gross profit | | | 141,059 | | | | 91,447 | | | Operating expenses: | | | | | | | | | | Research and development | | | 41,892 | | | | 25,956 | | | Selling, general and administrative | | | 51,453 | | | | 32,164 | | | Litigation expense | | | 1,628 | | | | 2,341 | | | Total operating expenses | | | 94,973 | | | | 60,461 | | | Income from operations | | | 46,086 | | | | 30,986 | | | Other income (expense), net | | | 2,587 | | | | (1,714 | ) | | Income before income taxes | | | 48,673 | | | | 29,272 | | | Income tax expense (benefit) | | | 3,260 | | | | (6,484 | ) | | Net income | | $ | 45,413 | | | $ | 35,756 | | | | | | | | | | | | | Net income per share: | | | | | | | | | | Basic | | $ | 1.00 | | | $ | 0.80 | | | Diluted | | $ | 0.95 | | | $ | 0.77 | | | Weighted-average shares outstanding: | | | | | | | | | | Basic | | | 45,498 | | | | 44,455 | | | Diluted | | | 47,711 | | | | 46,670 | | | | | | | | | | | |
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