Monolithic Power Systems, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024
October 30, 2024 at 04:01 pm EDT
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Monolithic Power Systems, Inc. reported earnings results for the third quarter and nine months ended September 30, 2024. For the third quarter, the company reported sales was USD 620.12 million compared to USD 474.87 million a year ago. Net income was USD 144.43 million compared to USD 121.16 million a year ago. Basic earnings per share from continuing operations was USD 2.96 compared to USD 2.54 a year ago. Diluted earnings per share from continuing operations was USD 2.95 compared to USD 2.48 a year ago.
For the nine months, sales was USD 1,585.44 million compared to USD 1,367.06 million a year ago. Net income was USD 337.34 million compared to USD 330.47 million a year ago. Basic earnings per share from continuing operations was USD 6.93 compared to USD 6.96 a year ago. Diluted earnings per share from continuing operations was USD 6.89 compared to USD 6.78 a year ago.
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 (44.7%): components and devices used in storage networks, computers, printers, servers and workstations;
- automotive (21.7%): solutions for infotainment applications and advanced driver assistance and connectivity systems;
- consumer electronics (12.9%): components for set-top boxes, monitors, game consoles, lighting systems, chargers, household appliances, mobile phones, wearables, GPS, TVs, stereos and cameras;
- telecommunications (11.3%): components and devices used in network and telecommunications infrastructures, routers, modems and wireless applications;
- industrial applications (9.4%): solutions for power generators, security systems, point-of-sale systems, smart meters and other industrial equipment.
Net sales are distributed geographically as follows: the United States (5.3%), China (51.3%), Taiwan (16.9%), South Korea (9.3%), Europe (7.3%), Japan (5.1%), Southeast Asia (4.7%) and other (0.1%).