Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2017


SUPPLEMENTAL FINANCIAL INFORMATION
STOCK-BASED COMPENSATION EXPENSE
(Unaudited, in thousands)
 
   Three Months Ended
September 30,
   Nine Months Ended
September 30,
 
   2017   2016   2017   2016 
Cost of revenue $453  $403  $1,264  $1,217 
Research and development  3,838   3,986   11,297   11,001 
Selling, general and administrative  9,678   9,127   28,198   22,023 
Total stock-based compensation expense $13,969  $13,516  $40,759  $34,241 


RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME
(Unaudited, in thousands, except per share amounts)
 
   Three Months Ended
September 30,
   Nine Months Ended
September 30,
 
   2017   2016   2017   2016 
Net income $23,642  $14,373  $53,132  $36,146 
Net income as a percentage of revenue  18.3%  13.5%  15.6%  12.7%
                 
Adjustments to reconcile net income to non-GAAP net income:                
Stock-based compensation expense  13,969   13,516   40,759   34,241 
Amortization of acquisition-related intangible assets  513   513   1,538   1,538 
Deferred compensation plan expense (income)  (50)  (70)  90   (218)
Tax effect   (1,519 )     (823 )     (4,285 )     (2,901 )
Non-GAAP net income   $ 36,555     $ 27,509     $ 91,234     $ 68,806  
Non-GAAP net income as a percentage of revenue     28.4 %     25.8 %     26.7 %     24.1 %
                                 
Non-GAAP net income per share:                                
Basic   $ 0.88     $ 0.68     $ 2.21     $ 1.71  
Diluted   $ 0.84     $ 0.66     $ 2.10     $ 1.65  
                                 
Shares used in the calculation of non-GAAP net income per share:                                
Basic     41,458       40,590       41,276       40,335  
Diluted     43,486       41,895       43,384       41,752  

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