$MPWR
Monolithic Power Systems Inc

2016 Q1 Form 10-Q Financial Statement

#000143774916031125 Filed on May 06, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $84.51M $73.54M
YoY Change 14.92% 22.36%
Cost Of Revenue $39.00M $33.86M
YoY Change 15.2% 20.91%
Gross Profit $45.51M $39.68M
YoY Change 14.68% 23.62%
Gross Profit Margin 53.85% 53.96%
Selling, General & Admin $17.77M $17.52M
YoY Change 1.43% 8.81%
% of Gross Profit 39.04% 44.14%
Research & Development $17.32M $16.04M
YoY Change 8.0% 2.81%
% of Gross Profit 38.06% 40.42%
Depreciation & Amortization $3.320M $3.621M
YoY Change -8.31% 13.16%
% of Gross Profit 7.3% 9.12%
Operating Expenses $35.13M $33.83M
YoY Change 3.87% 6.71%
Operating Profit $10.38M $5.857M
YoY Change 77.16% 1364.25%
Interest Expense $489.0K $600.0K
YoY Change -18.5% 200.0%
% of Operating Profit 4.71% 10.24%
Other Income/Expense, Net $543.0K $642.0K
YoY Change -15.42%
Pretax Income $10.92M $6.499M
YoY Change 68.01% -30.12%
Income Tax $344.0K $536.0K
% Of Pretax Income 3.15% 8.25%
Net Earnings $10.58M $5.963M
YoY Change 77.34% -33.74%
Net Earnings / Revenue 12.51% 8.11%
Basic Earnings Per Share $0.26 $0.15
Diluted Earnings Per Share $0.25 $0.15
COMMON SHARES
Basic Shares Outstanding 40.03M 39.11M
Diluted Shares Outstanding 41.65M 40.60M

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $251.5M $233.8M
YoY Change 7.57% 2.27%
Cash & Equivalents $77.81M $95.97M
Short-Term Investments $173.7M $137.8M
Other Short-Term Assets $2.900M $2.700M
YoY Change 7.41% 0.0%
Inventory $62.32M $53.40M
Prepaid Expenses
Receivables $28.84M $25.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $345.6M $315.2M
YoY Change 9.63% 7.47%
LONG-TERM ASSETS
Property, Plant & Equipment $66.53M $64.30M
YoY Change 3.46% -2.43%
Goodwill $6.571M
YoY Change
Intangibles $4.540M
YoY Change
Long-Term Investments $5.400M $5.400M
YoY Change 0.0% -44.9%
Other Assets $17.89M $11.70M
YoY Change 52.94% 108.93%
Total Long-Term Assets $95.53M $94.40M
YoY Change 1.2% 16.11%
TOTAL ASSETS
Total Short-Term Assets $345.6M $315.2M
Total Long-Term Assets $95.53M $94.40M
Total Assets $447.1M $409.6M
YoY Change 9.16% 9.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.73M $19.90M
YoY Change -20.95% 70.09%
Accrued Expenses $20.04M $12.70M
YoY Change 57.8% -20.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $45.32M $45.90M
YoY Change -1.26% 50.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $16.69M $12.30M
YoY Change 35.68% 232.43%
Total Long-Term Liabilities $16.69M $12.30M
YoY Change 35.68% 232.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.32M $45.90M
Total Long-Term Liabilities $16.69M $12.30M
Total Liabilities $65.13M $64.20M
YoY Change 1.44% 60.5%
SHAREHOLDERS EQUITY
Retained Earnings $103.4M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $382.0M $345.5M
YoY Change
Total Liabilities & Shareholders Equity $447.1M $409.6M
YoY Change 9.16% 9.34%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $10.58M $5.963M
YoY Change 77.34% -33.74%
Depreciation, Depletion And Amortization $3.320M $3.621M
YoY Change -8.31% 13.16%
Cash From Operating Activities $28.90M $15.70M
YoY Change 84.08% 30.83%
INVESTING ACTIVITIES
Capital Expenditures $5.346M $4.703M
YoY Change 13.67% -204.51%
Acquisitions
YoY Change
Other Investing Activities -$30.50M -$27.40M
YoY Change 11.31% 86.39%
Cash From Investing Activities -$35.80M -$32.10M
YoY Change 11.53% 67.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $10.41M
YoY Change -100.0% -316.77%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.200M -13.90M
YoY Change -55.4% 189.58%
NET CHANGE
Cash From Operating Activities 28.90M 15.70M
Cash From Investing Activities -35.80M -32.10M
Cash From Financing Activities -6.200M -13.90M
Net Change In Cash -13.10M -30.30M
YoY Change -56.77% 152.5%
FREE CASH FLOW
Cash From Operating Activities $28.90M $15.70M
Capital Expenditures $5.346M $4.703M
Free Cash Flow $23.55M $11.00M
YoY Change 114.19% -33.35%

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1
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1501000
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710000
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498000
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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249000
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2016Q1 us-gaap Other Nonoperating Income Expense
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CY2015Q1 us-gaap Other Nonoperating Income Expense
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CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2016Q1 us-gaap Payments To Acquire Short Term Investments
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CY2015Q1 us-gaap Payments To Acquire Short Term Investments
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CY2016Q1 us-gaap Proceeds From Sale Of Short Term Investments
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37353000
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CY2016Q1 us-gaap Proceeds From Stock Options Exercised
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CY2016Q1 us-gaap Proceeds From Stock Plans
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CY2015Q1 us-gaap Proceeds From Stock Plans
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1121000
CY2016Q1 us-gaap Product Warranty Accrual Classified Current
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336000
CY2015Q4 us-gaap Product Warranty Accrual Classified Current
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289000
CY2016Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-38000
CY2015Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-18000
CY2016Q1 us-gaap Property Plant And Equipment Net
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66527000
CY2015Q4 us-gaap Property Plant And Equipment Net
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CY2016Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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2000
CY2016Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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17321000
CY2015Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
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CY2015Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
289000
CY2016Q1 us-gaap Revenues
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CY2015Q1 us-gaap Revenues
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CY2015Q1 us-gaap Sales Revenue Net
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CY2014Q4 us-gaap Standard Product Warranty Accrual
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240000
CY2016Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
336000
CY2015Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
296000
CY2016Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
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CY2016Q1 us-gaap Selling General And Administrative Expense
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17768000
CY2015Q1 us-gaap Selling General And Administrative Expense
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CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
8979000
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
9219000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
319000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
29.63
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
1074000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
4232000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
4398000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
32.64
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
34.80
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
492000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
30.66
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1100000
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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2500000
CY2016Q1 us-gaap Short Term Investments
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CY2015Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
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100000000
CY2016Q1 us-gaap Stock Repurchase Program Authorized Amount1
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5900000
CY2016Q1 us-gaap Stock Repurchased And Retired During Period Shares
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0
CY2015Q1 us-gaap Stock Repurchased And Retired During Period Shares
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200000
CY2015Q1 us-gaap Stock Repurchased And Retired During Period Value
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CY2016Q1 us-gaap Stockholders Equity
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CY2016Q1 us-gaap Us Government Securities At Carrying Value
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CY2016Q1 us-gaap Unrecognized Tax Benefits
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CY2015Q4 us-gaap Unrecognized Tax Benefits
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CY2016Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
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300000
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200000
CY2016Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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2800000
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2700000
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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1618000
CY2015Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1491000
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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41646000
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40596000
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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40028000
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39105000

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