Earnings ·
Monolithic Power Reports Q3 Revenue of $1.2B and Appoints Tony Balow as CFO
MPWRMonolithic Power Systems, Inc.
Monolithic Power Systems reported third-quarter revenue of $1,202.4 million, a 63.1% increase year-over-year, driven by strong demand in Enterprise Data and Communications. GAAP net income was $271.1 million ($5.51 diluted EPS), while non-GAAP net income reached $402.7 million ($8.19 diluted EPS). The company also announced the appointment of Tony Balow as Chief Financial Officer, effective immediately, succeeding Robert Dean who served as Interim CFO. Additionally, Robert Dean was appointed Vice President and Chief Accounting Officer. MPS forecasts Q4 revenue between $1,315 million and $1,385 million.