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Press Release: Monolithic Power Systems Announces -4-

· 02/04/2021 16:39
Three Months Ending March 31, 2021 ----------------------- Low High ------------ -------- R&D and SG&A expense $ 89,000 $ 93,000 Adjustments to reconcile R&D and SG&A expense to non-GAAP R&D and SG&A expense: Stock-based compensation expense (26,200) (28,200) -------- ------- Non-GAAP R&D and SG&A expense $ 62,800 $ 64,800 ======== =======Three Months Ending March 31, 2021 ------------------------ Low High --------- ------- Gross margin 55.1% 55.7% Adjustments to reconcile gross margin to non-GAAP gross margin: Stock-based compensation expense 0.3% 0.3% -------- ------- Non-GAAP gross margin 55.4% 56.0% ======== =======Three Months Ended Year Ended December December 31, 31, ------------------ ------------------- 2020 2019 2020 2019 ------- --------- -------- --------- Total income before income taxes $44,443 $ 33,425 $169,342 $ 113,120 Adjustments to reconcile income before income taxes to non-GAAP income before income taxes: Stock-based compensation expense 22,970 18,680 85,551 78,699 Amortization of acquisition-related intangible assets - - - 110 Deferred compensation plan expense 156 235 1,057 189 ------ -------- ------- -------- Non-GAAP income before income taxes $67,569 $ 52,340 $255,950 $ 192,118 ====== ======== ======= ========Three Months Ended Year Ended December December 31, 31, ------------------- ------------------- 2020 2019 2020 2019 ------- --------- ------- --------- Total other income, net $ 4,480 $ 2,731 $10,460 $ 10,558 Adjustments to reconcile other income, net to non-GAAP other income, net: Deferred compensation plan income (3,172) (1,176) (4,593) (3,806) ------ -------- ------ -------- Non-GAAP other income, net $ 1,308 $ 1,555 $ 5,867 $ 6,752 ====== ======== ====== ========Three Months Ended Year Ended December December 31, 31, ------------------ ------------------- 2020 2019 2020 2019 ------- --------- -------- --------- Total operating income $39,963 $ 30,694 $158,882 $ 102,562 Adjustments to reconcile total operating income to non-GAAP total operating income: Stock-based compensation expense 22,970 18,680 85,551 78,699 Amortization of acquisition-related intangible assets - - - 110 Deferred compensation plan expense 3,328 1,412 5,650 3,995 ------ -------- ------- -------- Non-GAAP operating income $66,261 $ 50,786 $250,083 $ 185,366 ====== ======== ======= ========Three Months Ended Year Ended December December 31, 31, -------------------- -------------------- 2020 2019 2020 2019 -------- --------- -------- --------- Total operating expenses $ 88,911 $ 61,242 $307,072 $ 243,763 Adjustments to reconcile total operating expenses to non-GAAP total operating expenses: Stock-based compensation expense (22,284) (18,106) (82,959) (76,290) Deferred compensation plan expense (3,047) (1,383) (4,719) (3,941) ------- -------- ------- -------- Non-GAAP operating expenses $ 63,580 $ 41,753 $219,394 $ 163,532 ======= ======== ======= =============== ======== ======= ======== Non-GAAP gross margin 55.7% 55.5% 55.6% 55.6% ======= ======== ======= ========

RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES

(Unaudited, in thousands)

RECONCILIATION OF OPERATING INCOME TO NON-GAAP OPERATING INCOME

(Unaudited, in thousands)

RECONCILIATION OF OTHER INCOME, NET, TO NON-GAAP OTHER INCOME, NET

(Unaudited, in thousands)

RECONCILIATION OF INCOME BEFORE INCOME TAXES TO NON-GAAP INCOME BEFORE INCOME TAXES

(Unaudited, in thousands)

2021 FIRST QUARTER OUTLOOK

RECONCILIATION OF GROSS MARGIN TO NON-GAAP GROSS MARGIN

(Unaudited)

RECONCILIATION OF R&D AND SG&A EXPENSES TO NON-GAAP R&D AND SG&A EXPENSES

(Unaudited, in thousands)

(END) Dow Jones Newswires

February 04, 2021 16:39 ET (21:39 GMT)