KIRKLAND, Wash. (AP) — KIRKLAND, Wash. (AP) — Monolithic Power Systems Inc. (MPWR) on Wednesday reported first-quarter net income of $92.5 million.
The Kirkland, Washington-based company said it had profit of $1.89 per share. Earnings, adjusted for stock option expense and pretax expenses, were $2.81 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.66 per share.
The chipmaker posted revenue of $457.9 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $447.8 million.
For the current quarter ending in June, Monolithic said it expects revenue in the range of $480 million to $500 million.
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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
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