1. Basis
of Presentation — The accompanying unaudited
condensed consolidated financial statements have been
prepared by Monolithic Power Systems, Inc. (the
“Company” or “MPS”) in accordance
with the rules and regulations of the Securities and
Exchange Commission (the “SEC”). Certain
information and disclosures normally included in financial
statements prepared in accordance with accounting
principles generally accepted in the United States
(“GAAP”) have been condensed or omitted in
accordance with these rules and regulations. The
information in this report should be read in conjunction
with the Company’s audited consolidated financial
statements and notes thereto included in its Form 10-K
filed with the SEC on March 5, 2013.
In
the opinion of management, the accompanying unaudited
condensed consolidated financial statements reflect all
adjustments (consisting only of normal recurring
adjustments) necessary to present fairly the
Company’s financial position, results of operations
and cash flows for the interim periods presented. The
financial statements contained in this Form 10-Q are not
necessarily indicative of the results that may be expected
for the year ending December 31, 2013 or for any other
future period.
Summary
of Significant Accounting Policies
There
have been no changes to the Company’s significant
accounting policies during the three months ended March 31,
2013 as compared to the significant accounting policies
described in the Company’s audited consolidated
financial statements included in our Annual Report on Form
10-K for the fiscal year ended December 31, 2012.
Recently
Adopted Accounting Pronouncements
In
February 2013, the Financial Accounting Standards Board
(“FASB”) issued Accounting Standards Update
(“ASU”) No. 2013-02, Reporting of
Amounts Reclassified Out of Accumulated Other Comprehensive
Income. This ASU adds new disclosure requirements
for items reclassified out of accumulated other
comprehensive income (“AOCI”). The ASU is
effective for fiscal years, and interim periods within
those years, beginning on or after December 15, 2012 and
must be applied prospectively. The Company adopted this
standard effective January 1, 2013 (see Note 10).
Free historical financial statements for Monolithic Power Systems Inc.
See how revenue, income, cash flow, and balance sheet financials have changed over 51 quarters since 2012. Compare with MPWR stock chart to see long term trends.
Data imported from Monolithic Power Systems Inc SEC filings. Check original filings before making any investment decision.