Monolithic Power Systems (MPWR) FY2013 results: revenue $238 million, up 11.4% on the year
Monolithic Power Systems, Inc. (MPWR) reported revenue of $238 million for fiscal 2013, the year ended 31 December 2013, up 11.4% on the year before. Net income was $23 million, up 45.3%, and diluted earnings per share $0.59. The figures are the company's own, from the 10-K it filed with the SEC on 10 March 2014.
Revenue
$238 million
+11.4% on the year
FY2009FY2013
Operating margin
10.0%
8.1% a year earlier
FY2009FY2013
Net income
$23 million
+45.3% on the year
FY2009FY2013
Diluted EPS
$0.59
+37.2% on the year
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
238
214
197
+11.4%
Cost of revenue
110
101
94.9
+9.5%
Gross profit
128
113
102
+13.0%
Gross margin
53.7%
52.9%
51.7%
Research and development
49.7
48.8
44.5
+1.9%
Selling, general and administrative
54.6
50.0
40.3
+9.2%
Operating income
23.9
17.3
13.4
+38.4%
Operating margin
10.0%
8.1%
6.8%
Pre-tax income
24.0
17.9
13.7
+34.2%
Income tax
1.1
2.1
0.4
-48.0%
Effective tax rate
4.6%
11.9%
3.1%
Net income
22.9
15.8
13.3
+45.3%
Net margin
9.6%
7.4%
6.8%
Diluted EPS
$0.59
$0.43
$0.38
+37.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
60.7
24.9
43.7
+143.6%
Capital expenditure
15.8
21.1
21.0
-25.1%
Free cash flow
44.9
3.9
22.7
+1,065.9%
Free cash flow margin
18.9%
1.8%
11.5%
Cash from investing
n/a
-26.8
36.2
Cash from financing
n/a
-19.6
-32.0
Depreciation and amortisation
12.2
9.3
8.7
+30.3%
Share-based compensation
20.7
18.7
13.1
+11.0%
Buybacks
20.6
n/a
38.5
Dividends paid
n/a
35.7
n/a
Dividend per share
n/a
$1.00
n/a
Diluted shares, weighted
39m
36m
35m
+6.5%
Shares outstanding at period end
38m
36m
34m
+7.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
323
258
243
+25.2%
Debt
0.0
0.0
0.0
Other liabilities
45.5
28.9
31.0
+57.6%
Total liabilities and equity
369
287
274
+28.5%
Fixed assets
64.8
59.4
47.8
+9.1%
Investments
135
97.3
91.5
+38.8%
Cash and equivalents
101
75.1
96.4
+34.8%
Receivables
23.7
19.4
15.1
+22.4%
Inventory
39.7
32.1
20.1
+23.7%
Other assets
4.4
3.9
3.0
+13.8%
Total assets
369
287
274
+28.5%
10-K for the year ended 31 December 2013, filed 10 March 2014: the filing.