Monolithic Power Systems Inc. (MPWR) Monday said first-quarter profit declined to $2.5 million or $0.07 per share from $3.0 million or $0.08 per share in the comparable quarter last year.
Adjusted earnings for the quarter was $6.4 million or $0.17 per share. On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.16 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $51.5 million, up 2.0 percent from $50.5 million last year. Analysts expected revenues of $51.03 million.
Gross margin improved to 53.2 percent from 52.3 percent last year.
Operating expenses increased to $25.08 million from $23.21 million last year.
Looking ahead to the second quarter, the company has forecast revenues in the range of $55 million to $59 million. Analysts currently expect revenues of $56.83 million for the second quarter.
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