KIRKLAND, Wash. (AP) — KIRKLAND, Wash. (AP) — Monolithic Power Systems Inc. (MPWR) on Monday reported third-quarter earnings of $121.2 million.
On a per-share basis, the Kirkland, Washington-based company said it had profit of $2.48. Earnings, adjusted for one-time gains and costs, came to $3.08 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.07 per share.
The chipmaker posted revenue of $474.9 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $474.1 million.
For the current quarter ending in December, Monolithic said it expects revenue in the range of $442 million to $462 million.
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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%).