Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts)
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2019 | 2018 | 2019 | 2018 | |||||||||||||
| Revenue | $ | 151,007 | $ | 139,761 | $ | 292,370 | $ | 268,911 | ||||||||
| Cost of revenue | 67,782 | 62,197 | 131,139 | 119,852 | ||||||||||||
| Gross profit | 83,225 | 77,564 | 161,231 | 149,059 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 27,545 | 23,481 | 53,003 | 45,091 | ||||||||||||
| Selling, general and administrative | 35,058 | 28,561 | 65,611 | 55,879 | ||||||||||||
| Litigation expense | 503 | 640 | 781 | 1,171 | ||||||||||||
| Total operating expenses | 63,106 | 52,682 | 119,395 | 102,141 | ||||||||||||
| Income from operations | 20,119 | 24,882 | 41,836 | 46,918 | ||||||||||||
| Interest and other income, net | 2,229 | 2,232 | 5,569 | 2,673 | ||||||||||||
| Income before income taxes | 22,348 | 27,114 | 47,405 | 49,591 | ||||||||||||
| Income tax expense | 1,655 | 2,908 | 531 | 3,529 | ||||||||||||
| Net income | $ | 20,693 | $ | 24,206 | $ | 46,874 | $ | 46,062 | ||||||||
| Net income per share: | ||||||||||||||||
| Basic | $ | 0.48 | $ | 0.57 | $ | 1.09 | $ | 1.09 | ||||||||
| Diluted | $ | 0.45 | $ | 0.55 | $ | 1.03 | $ | 1.04 | ||||||||
| Weighted-average shares outstanding: | ||||||||||||||||
| Basic | 43,109 | 42,237 | 42,929 | 42,079 | ||||||||||||
| Diluted | 45,483 | 44,400 | 45,358 | 44,341 | ||||||||||||
