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What: Just one quarter after thoroughly disappointing analysts, shares of Monolithic Power Systems
So what: Profit checked in $0.18 per share on a Non-GAAP basis, $0.04 better than the consensus estimate, according to Yahoo! Finance. Management also announced a $20 million increase in its active stock repurchase program.
Now what: Buybacks have had the desired effect. Diluted shares outstanding dipped to 36.7 million in Q4, from 37.4 million the prior-year quarter, adding needed juice to the bottom line. Future repurchases will be paid from Monolithic’s war chest, which included $177 million in cash and short-term investments as of Dec. 31.
That’s the good news. The bad is that Monolithic Power has experienced a massive dropoff in revenue growth, which hasn’t yet tarnished direct competitors Analog Devices
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