Published on 8 Feb 2024 on Zacks via Yahoo Finance

Monolithic Power (MPWR) Tops Q4 Earnings & Revenue Estimates

Monolithic Power Systems, Inc. MPWR reported healthy fourth-quarter 2023 results, with the bottom and top lines beating the Zacks Consensus Estimate.

Net Income

On a GAAP basis, net income fell to $96.9 million or $1.98 per share from $119.1 million or $2.45 per share in the prior-year quarter. The decline was primarily due to an increase in operating expenses.Non-GAAP net income was $140.9 million or $2.88 per share compared with $154 million or $3.17 per share in the year-ago quarter. The bottom line surpassed the Zacks Consensus Estimate by 3 cents.For 2023, GAAP net income was $427.4 million or $8.76 per share compared with $437.7 million or $9.05 per share in 2022. Excluding stock-based compensation of $149.7 million, net deferred compensation plan expense of $1.1 million, amortization of purchased intangible assets of $0.1 million and $3.6 million for related tax effects non-GAAP net income amounted to $574.6 million or $11.78 per share compared with $599.9 million or $12.41 per share in 2022.