KIRKLAND, Wash. (AP) — KIRKLAND, Wash. (AP) — Monolithic Power Systems Inc. (MPWR) on Wednesday reported fourth-quarter earnings of $119.1 million.
The Kirkland, Washington-based company said it had net income of $2.45 per share. Earnings, adjusted for one-time gains and costs, came to $3.17 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.13 per share.
The chipmaker posted revenue of $460 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $459.9 million.
For the year, the company reported profit of $437.7 million, or $9.05 per share. Revenue was reported as $1.79 billion.
For the current quarter ending in March, Monolithic said it expects revenue in the range of $440 million to $460 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
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
