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Monolithic beats Street 1Q forecasts

SAN JOSE, Calif. (AP) _ Monolithic Power Systems Inc. (MPWR) on Wednesday reported first-quarter earnings of $14.5 million.

On a per-share basis, the San Jose, California-based company said it had net income of 33 cents. Earnings, adjusted for stock option expense and amortization costs, were 58 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The chipmaker posted revenue of $100.4 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $100 million.

For the current quarter ending in July, Monolithic said it expects revenue in the range of $109 million to $113 million.

Monolithic shares have climbed 14 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $93.71, a climb of 44 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MPWR at https://www.zacks.com/ap/MPWR

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Keywords: Monolithic Power, Earnings Report