WEST PALM BEACH, Fla. (AP) 鈥� WEST PALM BEACH, Fla. (AP) 鈥� Monolithic Power Systems Inc. (MPWR) on Thursday reported first-quarter net income of $193.2 million.
The West Palm Beach, Florida-based company said it had net income of $3.92 per share. Earnings, adjusted for one-time gains and costs, were $5.10 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4.89 per share.
The chipmaker posted revenue of $804.2 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $781.1 million.
For the current quarter ending in June, Monolithic said it expects revenue in the range of $890 million to $910 million.
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