KIRKLAND, Wash. (AP) _ Monolithic Power Systems Inc. (MPWR) on Wednesday reported fourth-quarter net income of $32.4 million.
On a per-share basis, the Kirkland, Washington-based company said it had profit of 70 cents. Earnings, adjusted for stock option expense and pretax expenses, were $1.04 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The chipmaker posted revenue of $166.7 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $163.1 million.
For the year, the company reported profit of $108.8 million, or $2.38 per share. Revenue was reported as $627.9 million.
Monolithic shares have climbed 5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $186.99, a climb of 41% in the last 12 months.
This story was generated by (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a at https://www.zacks.com/ap/MPWR