Press release
Monolithic Power Systems Announces Results for the Fourth Quarter and Year Ended December 31, 2022 and an Increase in Quarterly Cash Dividend
KIRKLAND, Wash., Feb. 08, 2023 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (“MPS”) (Nasdaq: MPWR), a fabless company with a global footprint that
About this update from Monolithic Power Systems, Inc.
[{"type":"text","content":"KIRKLAND, Wash., Feb. 08, 2023 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (“MPS”) (Nasdaq: MPWR), a fabless company with a global footprint that provides high-performance, semiconductor-based power electronic solutions, today announced financial results for the quarter and year ended December 31, 2022. The Company also announced that its Board of Directors has approved an increase in the quarterly cash dividend from $0.75 per share to $1.00 per share. The first quarter dividend of $1.00 per share will be paid on April 14, 2023 to all stockholders of record as of the close of business on March 31, 2023. The financial results for the quarter ended December 31, 2022 are as follows: Revenue was $460.0 million for the quarter ended December 31, 2022, a 7.1% decrease from $495.4 million for the quarter ended September 30, 2022 and a 36.7% increase from $336.5 million for the quarter ended December 31, 2021.GAAP gross margin was 58.2% for the quarter ended December 31, 2022, compared with 57.6% for the quarter ended December 31, 2021.Non-GAAP gross margin (1) was 58.5% for the quarter ended December 31, 2022, excluding the impact of $1.0 million for stock-based compensation expense and $0.1 million for deferred compensation plan expense, compared with 57.9% for the quarter ended December 31, 2021, excluding the impact of $0.9 million for stock-based compensation expense and $0.2 million for deferred compensation plan expense. GAAP operating expenses were $130.9 million for the quarter ended December 31, 2022, compared with $115.3 million for the quarter ended December 31, 2021.Non-GAAP operating expenses (1) were $94.8 million for the quarter ended December 31, 2022, excluding $34.2 million for stock-based compensation expense and $1.9 million for deferred compensation plan expense, compared with $83.0 million for the quarter ended December 31, 2021, excluding $30.3 million for stock-based compensation expense and $2.0 million for deferred compensation plan expense.GAAP operating income was $136.9 million for the quarter ended December 31, 2022, compared with $78.6 million for the quarter ended December 31, 2021.Non-GAAP operating income (1) was $174.1 million for the quarter ended December 31, 2022, excluding $35.3 million for stock-based compensation expense and $1.9 million for deferred compensation plan expense, compared wi...