Monolithic Power Systems, Inc. MPWR announced financial results Monday for the quarter ended September 30, 2014.
According to the company's press release, net revenue was $78.3 million, above the average estimate of $77.79 million, a 14.5 percent increase from $68.4 million in the second quarter of 2014 and a 19.9 percent increase from $65.3 million in the third quarter of 2013.
Non-GAAP net income was $18.3 million and non-GAAP earnings per share were $0.46 per diluted share, inline with estimates.
Non-GAAP net income excluded stock-based compensation expenses, amortization of acquisition-related intangible assets, acquisition-related transaction costs, deferred compensation plan income and related tax effects, compared with non-GAAP net.
Non-GAAP gross margin was 54.9 percent, which excluded the impact of $0.2 million for stock-based compensation expenses and $0.3 million for the amortization of acquisition-related intangible assets, compared with 54.3 percent in the third quarter of 2013, which excluded the impact of $0.2 million for stock-based compensation expenses.
"MPS continues to execute according to the plan established three years ago," said Michael Hsing, CEO and founder of MPS. "We are seeing positive early results and are optimistic about our future growth."
Monolithic Power Systems, Inc. closed at $40.00 Monday.
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