Monolithic Power Systems Announces Results for the Fourth Quarter and Year Ended December 31, 2022 and an Increase in Quarterly Cash Dividend
Monolithic Power Systems, Inc.
Condensed Consolidated Statements of Operations
(Unaudited, in thousands, except per share amounts)
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Three Months Ended December 31, | | |
Year Ended December 31, | | | | |
2022 | | |
2021 | | |
2022 | | |
2021 | | | Revenue | | $ | 460,012 | | | $ | 336,504 | | | $ | 1,794,148 | | | $ | 1,207,798 | | | Cost of revenue | | | 192,203 | | | | 142,631 | | | | 745,596 | | | | 522,339 | | | Gross profit | | | 267,809 | | | | 193,873 | | | | 1,048,552 | | | | 685,459 | | | Operating expenses: | | | | | | | | | | | | | | | | | | Research and development | | | 61,674 | | | | 54,514 | | | | 240,171 | | | | 190,627 | | | Selling, general and administrative | | | 66,057 | | | | 61,208 | | | | 273,595 | | | | 226,190 | | | Litigation expense (benefit), net | | | 3,186 | | | | (420 | ) | | | 8,001 | | | | 6,225 | | | Total operating expenses | | | 130,917 | | | | 115,302 | | | | 521,767 | | | | 423,042 | | | Operating income | | | 136,892 | | | | 78,571 | | | | 526,785 | | | | 262,417 | | | Other income (expense), net | | | 3,872 | | | | 3,391 | | | | (1,848 | ) | | | 9,802 | | | Income before income taxes | | | 140,764 | | | | 81,962 | | | | 524,937 | | | | 272,219 | | | Income tax expense | | | 21,674 | | | | 9,291 | | | | 87,265 | | | | 30,196 | | | Net income | | $ | 119,090 | | | $ | 72,671 | | | $ | 437,672 | | | $ | 242,023 | | | | | | | | | | | | | | | | | | | | | Net income per share: | | | | | | | | | | | | | | | | | | Basic | | $ | 2.53 | | | $ | 1.58 | | | $ | 9.37 | | | $ | 5.28 | | | Diluted | | $ | 2.45 | | | $ | 1.51 | | | $ | 9.05 | | | $ | 5.05 | | | Weighted-average shares outstanding: | | | | | | | | | | | | | | | | | | Basic | | | 46,979 | | | | 46,139 | | | | 46,727 | | | | 45,851 | | | Diluted | | | 48,549 | | | | 48,240 | | | | 48,358 | | | | 47,889 | |
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