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Mar 31, 2020
Monolithic Power Q1 2020 Earnings Report
Monolithic Power Systems reported earnings for the first quarter of 2020.
Key Takeaways
Monolithic Power Systems announced revenue of $165.8 million for the quarter ended March 31, 2020, a 0.6% decrease from the previous quarter and a 17.3% increase year-over-year. GAAP earnings per share were $0.77, while non-GAAP earnings per share were $0.95.
Revenue was $165.8 million, a 0.6% decrease from the previous quarter and a 17.3% increase year-over-year.
GAAP gross margin was 55.2%, consistent with the same quarter last year.
GAAP operating income was $31.0 million, compared to $21.7 million for the same quarter last year.
GAAP net income was $35.8 million, or $0.77 per diluted share.
Monolithic Power
Monolithic Power
Forward Guidance
MPS expects revenue in the range of $167 million to $173 million for the second quarter ending June 30, 2020, with a GAAP gross margin between 55.0% and 55.6%.
Positive Outlook
- Revenue in the range of $167 million to $173 million.
- GAAP gross margin between 55.0% and 55.6%.
- Non-GAAP gross margin between 55.3% and 55.9%, excluding stock-based compensation expenses.
- Interest income of $1.7 million to $1.9 million.
- Fully diluted shares outstanding between 45.8 million and 47.8 million.
Challenges Ahead
- GAAP research and development and selling, general and administrative expenses between $60.9 million and $64.9 million.
- Non-GAAP R&D and SG&A expenses between $43.4 million and $45.4 million, excluding stock-based compensation expenses.
- Total stock-based compensation expense of $18.1 million to $20.1 million.
- Litigation expenses ranging between $1.7 million and $2.1 million.
- Uncertainty due to the macro-economic environment.