KIRKLAND, Wash. (AP) _ Monolithic Power Systems Inc. (MPWR) on Monday reported first-quarter net income of $79.6 million.

On a per-share basis, the Kirkland, Washington-based company said it had profit of $1.65. Earnings, adjusted for one-time gains and costs, came to $2.45 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.26 per share.

The chipmaker posted revenue of $377.7 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $360.3 million.

For the current quarter ending in July, Monolithic said it expects revenue in the range of $420 million to $440 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

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