KIRKLAND, Wash. (AP) _ Monolithic Power Systems Inc. (MPWR) on Tuesday reported third-quarter earnings of $29.5 million.
The Kirkland, Washington-based company said it had profit of 64 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.08 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The chipmaker posted revenue of $168.8 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $165.1 million.
For the current quarter ending in December, Monolithic said it expects revenue in the range of $160 million to $166 million.
Monolithic shares have risen 24% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $144.21, a climb of 26% in the last 12 months.