Monolithic Power posts 20 pct gain in 3Q profit

Monolithic Power's 3rd-quarter net income increases 20 percent, almost matching record high

• On 6:15 pm EDT, Thursday October 22, 2009

SAN JOSE, Calif. (AP) -- Chip maker Monolithic Power Systems Inc. said Thursday its third-quarter profit jumped 20 percent, nearly matching an all-time high in sales as it released a record number of new products.

Net income rose to $12.6 million, or 34 cents per share, in the quarter, from $10.5 million, or 29 cents per share, in the year-ago period. Adjusted earnings were 24 cents per share in the latest quarter.

Revenue slipped 2 percent to $48 million from $48.9 million.

On average, analysts polled by Thomson Reuters expected a profit of 23 cents per share on sales of $47.7 million. Analysts typically exclude one-time items from their estimates.

The company expects fourth-quarter sales between $43 million to $46 million. Analysts are expecting $43.9 million.

Monolithic's shares retreated $1, or 4.6 percent, to $21 in after-hours trading following the release of the company's earnings report. They rose 52 cents, or 2.4 percent, to end the regular session at $22 on Thursday.