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KIRKLAND, Wash. (AP) — KIRKLAND, Wash. (AP) — Monolithic Power Systems Inc. (MPWR) on Thursday reported first-quarter net income of $133.8 million.
On a per-share basis, the Kirkland, Washington-based company said it had net income of $2.79. Earnings, adjusted for one-time gains and costs, were $4.04 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4 per share.
The chipmaker posted revenue of $637.6 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $635.1 million.
For the current quarter ending in June, Monolithic said it expects revenue in the range of $640 million to $660 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