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Dec 31, 2019
Monolithic Power Q4 2019 Earnings Report
Announced financial results for the quarter and year ended December 31, 2019.
Key Takeaways
Monolithic Power Systems reported revenue of $166.7 million for the quarter ended December 31, 2019, an 8.6% increase from $153.5 million for the quarter ended December 31, 2018. GAAP earnings per share were $0.70 per diluted share for the quarter ended December 31, 2019, compared to $0.61 per diluted share for the quarter ended December 31, 2018.
Revenue was $166.7 million for the quarter ended December 31, 2019, an 8.6% increase from the quarter ended December 31, 2018.
GAAP gross margin was 55.1% for the quarter ended December 31, 2019, compared with 55.1% for the quarter ended December 31, 2018.
GAAP operating income was $30.7 million for the quarter ended December 31, 2019, compared with $33.1 million for the quarter ended December 31, 2018.
GAAP net income was $32.4 million and GAAP earnings per share were $0.70 per diluted share for the quarter ended December 31, 2019.
Monolithic Power
Monolithic Power
Forward Guidance
MPS’ financial targets for the first quarter ending March 31, 2020 include revenue in the range of $161 million to $167 million and GAAP gross margin between 55.1% and 55.7%.
Positive Outlook
- Revenue in the range of $161 million to $167 million.
- GAAP gross margin between 55.1% and 55.7%.
- Non-GAAP gross margin between 55.4% and 56.0%, which excludes an estimated impact of stock-based compensation expenses of 0.3%.
- GAAP research and development and selling, general and administrative expenses between $58.4 million and $62.4 million.
- Non-GAAP R&D and SG&A expenses between $41.0 million and $43.0 million, which excludes an estimate of stock-based compensation expenses in the range of $17.4 million to $19.4 million.
Challenges Ahead
- Total stock-based compensation expense of $18.0 million to $20.0 million.
- Litigation expenses ranging between $1.5 million and $2.5 million.
- Interest income of $1.5 million to $1.7 million.
- Fully diluted shares outstanding between 46.2 million and 47.2 million.
- The semiconductor industry is cyclical in nature, which could lead to adverse changes or developments.