Monolithic Power Systems Announces Results for the Fourth Quarter and Year Ended December 31, 2021 and an Increase in Quarterly Cash Dividend
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Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts) | | | | | |
Three Months Ended December 31, | | |
Year Ended December 31, | | | |
2021 | | |
2020 | | |
2021 | | |
2020 | | Revenue | | $ | 336,504 | | | $ | 233,043 | | | $ | 1,207,798 | | | $ | 844,452 | | Cost of revenue | | | 142,631 | | | | 104,169 | | | | 522,339 | | | | 378,498 | | Gross profit | | | 193,873 | | | | 128,874 | | | | 685,459 | | | | 465,954 | | Operating expenses: | | | | | | | | | | | | | | | | | Research and development | | | 54,514 | | | | 42,252 | | | | 190,627 | | | | 137,598 | | Selling, general and administrative | | | 61,208 | | | | 45,120 | | | | 226,190 | | | | 161,670 | | Litigation expense (benefit), net | | | (420 | ) | | | 1,539 | | | | 6,225 | | | | 7,804 | | Total operating expenses | | | 115,302 | | | | 88,911 | | | | 423,042 | | | | 307,072 | | Operating income | | | 78,571 | | | | 39,963 | | | | 262,417 | | | | 158,882 | | Other income, net | | | 3,391 | | | | 4,480 | | | | 9,802 | | | | 10,460 | | Income before income taxes | | | 81,962 | | | | 44,443 | | | | 272,219 | | | | 169,342 | | Income tax expense | | | 9,291 | | | | 1,556 | | | | 30,196 | | | | 4,967 | | Net income | | $ | 72,671 | | | $ | 42,887 | | | $ | 242,023 | | | $ | 164,375 | | | | | | | | | | | | | | | | | | | Net income per share: | | | | | | | | | | | | | | | | | Basic | | $ | 1.58 | | | $ | 0.95 | | | $ | 5.28 | | | $ | 3.67 | | Diluted | | $ | 1.51 | | | $ | 0.90 | | | $ | 5.05 | | | $ | 3.50 | | Weighted-average shares outstanding: | | | | | | | | | | | | | | | | | Basic | | | 46,139 | | | | 45,148 | | | | 45,851 | | | | 44,840 | | Diluted | | | 48,240 | | | | 47,600 | | | | 47,889 | | | | 47,014 |
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