Monolithic Power Systems Achieves Improved Financial Performance
Monolithic Power Systems, Inc. (MPS) has announced financial results for the quarter ended September 30, 2013, including: Net revenue was $65.3 million, a 13.2% increase from $57.7 million in the second quarter of 2013 and a 15.6% increase from $56.5 million in the third quarter of 2012. Gross margin was 54.0%, compared with 53.6% in the second quarter of 2013 and 53.1% in the third quarter of 2012. GAAP net income was $7.4 million and GAAP earnings per share were $0.19 per diluted share. Comparatively, GAAP net income was $5.9 million and GAAP earnings per share were $0.16 per diluted share for the quarter ended September 30, 2012.
The results for the nine months ended September 30, 2013 included: Net revenue was $174.5 million, a 5.4% increase from $165.6 million for the nine months ended September 30, 2012. Gross margin was 53.6%, compared with 52.9% for the nine months ended September 30, 2012. GAAP net income was $15.4 million and GAAP earnings per share were $0.40 per diluted share. Comparatively, GAAP net income was $15.5 million and GAAP earnings per share were $0.43 per diluted share for the nine months ended September 30, 2012.
"MPS had an outstanding third quarter with sequential organic revenue growth of 13.2%; well above industry average," said Michael Hsing, CEO and founder of MPS. "We continue to closely monitor the macroeconomic conditions and to control expenses. We are well positioned with new product revenue ramping in multiple market segments for 2014 and beyond."
