KIRKLAND, Wash. (AP) — KIRKLAND, Wash. (AP) — Monolithic Power Systems Inc. (MPWR) on Wednesday reported first-quarter net income of $92.5 million.
The Kirkland, Washington-based company said it had profit of $1.89 per share. Earnings, adjusted for stock option expense and pretax expenses, were $2.81 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.66 per share.
The chipmaker posted revenue of $457.9 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $447.8 million.
For the current quarter ending in June, Monolithic said it expects revenue in the range of $480 million to $500 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MPWR at https://www.zacks.com/ap/MPWR
For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights.
, source Associated Press News
Monolithic Power Systems, Inc. specializes in the design, manufacture and marketing of high-performance semiconductor-based power electronics solutions. The group's products include power modules, power management solutions (power converters, regulators, voltage supervisory systems, integrated circuits, Power over Ethernet, gate drivers, controllers, USB power systems, power distribution systems, etc.), AC/DC converters, analog components, sensors, inductors and battery management solutions. Net sales break down by market as follows:
- IT and data storage (30.8%): components and devices used in storage networks, computers, printers, servers and workstations;
- consumer electronics (23.4%): components for set-top boxes, monitors, game consoles, lighting systems, chargers, household appliances, mobile phones, wearables, GPS, TVs, stereos and cameras;
- automotive (16.9%): solutions for infotainment applications and advanced driver assistance and connectivity systems;
- industrial applications (15.3%): solutions for power generators, security systems, point-of-sale systems, smart meters and other industrial equipment;
- telecommunications (13.6%): components and devices used in network and telecommunications infrastructures, routers, modems and wireless applications.
At the end of 2021, the group had three production sites in China.
Net sales are distributed geographically as follows: the United States (3%), China (58%), Taiwan (14%), South Korea (7.7%), Europe (7.1%), Japan (5.7%) and South East Asia (4.5%).
MONOLITHIC POWER SYSTEMS, INC. 
