Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2017

The forward-looking statements in this press release and statements made during the accompanying teleconference represent MPS’ projections and current expectations, as of the date hereof, not predictions of actual performance. MPS assumes no obligation to update the information in this press release or in the accompanying conference call.

About Monolithic Power Systems
Monolithic Power Systems, Inc. (MPS) provides small, highly energy efficient, easy-to-use power solutions for systems found in industrial applications, telecom infrastructures, cloud computing, automotive, and consumer applications. MPS' mission is to reduce total energy consumption in its customers' systems with green, practical, compact solutions. The company was founded by Michael Hsing in 1997 and is headquartered in San Jose, CA. MPS can be contacted through its website at www.monolithicpower.com or its support offices around the world.

Monolithic Power Systems, MPS, and the MPS logo are registered trademarks of Monolithic Power Systems, Inc. in the U.S. and trademarked in certain other countries.

Contact:
Bernie Blegen
Chief Financial Officer
Monolithic Power Systems, Inc.
408-826-0777
investors@monolithicpower.com

Monolithic Power Systems, Inc.
Condensed Consolidated Balance Sheets
(Unaudited, in thousands, except par value)
 
   September 30,   December 31, 
   2017   2016 
ASSETS              
Current assets:        
Cash and cash equivalents $104,424  $112,703 
Short-term investments  195,174   155,521 
Accounts receivable, net  50,757   34,248 
Inventories  99,887   71,469 
Other current assets  13,560   9,043 
Total current assets  463,802   382,984 
Property and equipment, net  100,629   85,171 
Long-term investments  5,368   5,354 
Goodwill  6,571   6,571 
Acquisition-related intangible assets, net  1,464   3,002 
Deferred tax assets, net  661   633 
Other long-term assets  26,518   27,411 
Total assets $605,013  $511,126 
         
LIABILITIES AND STOCKHOLDERS’ EQUITY              
Current liabilities:        
Accounts payable $21,831  $17,427 
Accrued compensation and related benefits  17,458   12,578 
Accrued liabilities  26,879   22,916 
Total current liabilities    66,168       52,921  
Income tax liabilities     4,627       3,870  
Other long-term liabilities     28,695       23,219  
Total liabilities     99,490       80,010  
Commitments and contingencies                
Stockholders' equity:                
Common stock and additional paid-in capital, $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 41,508 and 40,793 as of September 30, 2017 and December 31, 2016, respectively     364,726       315,969  
Retained earnings     140,455       119,362  
Accumulated other comprehensive income (loss)     342       (4,215 )
Total stockholders’ equity     505,523       431,116  
Total liabilities and stockholders’ equity   $ 605,013     $ 511,126  

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