MPWR - Earnings call transcript Q4 2020 | Monolithic Power Systems, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Genevieve Cunningham

Welcome everyone to the MPS Fourth Quarter 2020 Earnings Webinar. Please note that this webinar is being recorded and will be archived for one year on our Investor Relations page at monolithicpower.com. My name is Genevieve Cunningham and I will be the moderator for this webinar.

Joining me today are Michael Hsing, CEO and Founder of MPS; and Bernie Blegen, VP and CFO. In the course of today's conference call, we will make forward-looking statements and projections that involve risk and uncertainty, which could cause results to differ materially from management's current views and expectations. Safe contained the release the to today. published refer Harbor in statement earnings Please other our could February X, statements which factors to and Form on in uncertainties Risks, that November including filings, and website. identified QX release accessible our the are Form our the filed SEC differ filed cause of in Safe XXXX in XXXX, Harbor on both contained XX-K earnings through and XX, are results actual XX-Q update the to provided on MPS obligation assumes information today's call. no

be filed that release, our I'd and the as you earnings with filed on also website as releases, release QX have reconciling for QX our to investors earlier as with discussing that will being webcast along or to and measures financial will QX reply in for considered for on financial GAAP on the live SEC non-GAAP We we income other operating outlines call table prepared which SG&A performance a earnings remind today's expense, refer gross non-GAAP non-GAAP earnings XXXX measures SEC. be not margin, income, I measures to is are expense, in not financial with XXXX today. and operating one conference reconciliation available the both is substitute and and superior over GAAP. to the well accordance be internet the and are to A the measures These financial R&D the a prepared posted with that GAAP income, a our and in tables would XXXX, like GAAP the interest of basis. between with should net website. year, included accordance

turn to the Bernie like I'd call to Blegen. over Now,

Bernie Blegen

Thanks Gen.

product companies against quality revenue recognized technologies, tier record XX.X% more by full customer. represented execution first the and consistent This million, achieved growing the year XXXX, for strategies from our and prior MPS year. $XXX.X superior performance For excellent being

see our we more opportunities high that ahead invest we growth and in of that infrastructure quality support us, successfully As capabilities continue to growth.

we QX online fab few Here in qualified schedule be which to this shipped of one are parts year. allowing highlights, in new a of a for XXXX. year XX-inch achieved ahead Brought

began will of in diversity plans of integrated an critically for ESG of social shipments volt to responsibility. of chain power new management in commitment ramp this autonomous to the vehicles. and solution We and of environmental, technology invest easily one proving employees, volume now all practices to QX our began our X-inch MPS's QSMOD to continue access system our ongoing edge are shareholders supply values, location. and fully up Customers, driving in Designed Shipments appreciate into of applications, solutions able to and leading capacity transparency commercial our for in XXXX. website, policies our business bring governance viability practices XXXX; market; sustainability, with the our Launched AI fab aggregating a important social XX

plan. up into that products Despite bring our execute in meet quality high continues in demand while ability maintaining issue industry-wide supply acquisition, on very extraordinary this was customer recognized result performance, ability strong of development having the of our XXXX, increases year soul continue capacity for our the year propelled customers our our fab, terms all second in some challenges, chain limited was financial fulfill to we XXXX XXXX. will XX-inch these our demand our and in can successful the challenge which of product as While This demand. to constraints. ones of constraints during customers new much We us take to to strategic represented and to capacity delivering

from Consumer segment higher Computing to in our was. cloud XXXX. to and console revenue grew in XXXX. full Storage Automotive XX.X% revenue full Storage resulted year compared increased revenue Communications This connectivity to compared MPS' XXXX. appliances. of full sales comparable with Automotive based demonstrating year XX.X%. growth consumer XXXX Turning XXXX revenue Communications compared $XX.X growth to in XX.X% record a the million, of revenue segment, XX.X% XXXX million, quarter XX.X% and year market XXXX grew revenue of year-over-year; to broad XX MPS grew with XX.X%; up XXXX XX.X% up prior million safety revenue XX.X%, reflected how computing up and represented to XXXX. quarter consecutive Fourth X% XX.X% but XX.X% improvement of Storage represented $XX.X Automotive by represented market both Consumer XX.X%, communications due quarter XX.X% XXXX. Industrial our lower sales XX.X%, revenue in infotainment, $XXX.X Computing up for of strong revenue and just QX. $XXX.X Consumer year third revenue margin XXXX, quarter in revenue XX.X% with applications XX. up $XX.X XX.X% Switching applications. with and to than gross grew year of sources. of This XX.X%, XXXX. million of increase XXXX. infrastructure revenue for home growth XX.X% third revenue application two revenue represented million was along revenue automotive full than of XXXX, revenue in with industrial million Industrial compared and years million. and in in generated a back GAAP in represented with MPS' an of XX.X% grew declines. compared By XX.X%, of reversing $XXX.X sales grew XX.X% revenue storage XX.X% points to fourth million. improvement wearables XXXX This XXXX than MPS' over XX.X%; revenue computing primarily $XX.X and had grew higher revenue sales increased XX.X% with higher million XXXX sales primarily the $XXX.X sales year primarily XXXX Communications Full game storage and ramp. $XXX.X sales quarter total to and the revenue was higher fourth products. of Computing grew basis the compared Industrial XXXX. grew $XX.X in primarily grew XXXX. million for This This revenue million $XXX.X revenue growth represented power reflected quarter MPS'

XXXX reported the quarter of non-GAAP than fourth Our reported GAAP to gross operating XXXX. XXXX. the $XX.X both XX.X%, third of margin quarter basis of compared the higher fourth quarter third the Fourth in million quarter income was XX XXXX was $XX.X $XX.X million points of million and in and XXXX quarter

income to the million reported compared in operating million quarter $XX.X XXXX. reported million and non-GAAP Our $XX.X was of fourth in $XX.X prior quarter the

expenses. Let's review our operating

million were in the fourth quarter of compared expenses fourth third the operating $XX.X and in GAAP with the quarter million quarter of XXXX. Our million in $XX.X $XX.X XXXX

of $XX.X stock the reported fourth differences XXXX expenses non-GAAP share XXXX. compared million million. in GAAP of compared the fourth Switching of $X.XX of the XXXX, with the were to $X.XX XXXX. $X.XX quarter third with $XXX,XXX QX, quarter QX XXXX. $XX.X up $XX.X million diluted deferred we expense litigation or are million a in were operating XXXX XXXX with the recorded third between goods million in non-GAAP fourth of XXXX sold an unfunded diluted the for stock in the Our quarters net compared $XX.X $X.X was Fourth expenses and Fully QX, and per quarter XX.X million up and and quarter expense, XXXX. line. $XXX,XXX end of operating discussed at $X.XX the per $XX.X quarter the of shares income the in from million charged or million a basis, third compared a fully was share in and compensation were GAAP spent On was $X.XX expenses or from compensation the and a $XX.X million fourth fourth $X.XX fully per XXXX $XX.X quarter million quarter XXXX diluted quarter outstanding third quarter $X.X plan. GAAP XXXX here per loss XXXX the cost of compensation share The of non-GAAP Fourth in share share income in with per including QX, XXXX. and per non-GAAP net XXXX share expense from quarter both quarter income in bottom

balance look sheet. at the let's Now,

XXXX of XX, end December XXXX. with compared investments of cash the third equivalents the cash, totaled million As of $XXX.X million at and quarter $XXX.X

XXXX $XX.X QX Accounts generated million and For the with of quarter XXXX days XX of with million. spending the XXXX flow end about XXXX $XX.X million. of at the million quarter in quarter days capital $XX.X XXXX. $XX.X the or operating of of third compared outstanding quarter, of cash quarter XX fourth $XX.X or XX receivable cash MPS compared operating ended totaled flow of reported $XX.X the days reported at million or the sales million fourth the Fourth

quarter at I turn inventory Our from the at million inventories inventory it and the Calculate revenue. practice webinar would QX, levels at end as XXXX end $XXX.X We again, days the XXXX end a at XXX fourth of XXX increase consistent can following of outlook. days the days from from current of XXXX. provides comparing the the third internal our better quarter's as inventory quarter of XXXX QX, Historically, of to a like with our the inventory with the the quarter you calculated days XXX a at XXXX. $XXX.X were of at On XXX XXXX. days of quarter of of you of video, economic up hand believe we've third of the fourth can current third the of days days see to the end XXXX the to past revenue function see on the on million, of basis quarter of this end end match. quarter the basis from of to rose

the XXXX revenue to $XXX million. We are forecasting range million $XXX of in QX,

goods. be to approximately gross million from compensation Total GAAP or Litigation SG&A to in the expected stock-based R&D in to $XX.X exchange in be compensation million following: expense the in to be million. XX.X between is litigation This including cost shares million the $XXX,XXX million, range SG&A margin before of million expect $X.X of $X.X million $XX.X and would XX.X to the diluted range of stock losses. to of $XX.X the $XX.X range expenses. $XX.X expenses Interest range non- to Fully $XX.X to million. XX.X%. also and of estimate $X.X million range to and and XX.X%; We foreign GAAP R&D $X.X gains expenses shares. XX.X% that be range to to excludes income million to GAAP million; charged gross expenses XX.X% margin of the of non-GAAP in million

to dividend as quarterly we per $X.XX XX, and Finally, our shareholders our $X.XX announce to to increase are XXXX. of a XX% through for of our record diversification strategy XXXX sustainability. share share performance pleased in March grow conclusion, from in per validated In

execute this phone We will will strategy and continue lines our invest the to for questions. open future. in now I

Genevieve Cunningham

Instructions] Analysts, [Q&A Thank Matt is to line begin I you, Matt, Our like now would from session. first our Cohen. your question Bernie. is open. Q&A now Ramsay from

Matt Ramsay

evening question Hey, first My Thank the afternoon. you Good you well. that Bernie. very Michael everybody. much. and are supply is bringing Good online. around guys Hope you're

might a immediate levels? where revenue gains, revenue wonder thoughts support share add you much a a and that there's next a one, feel might expanding You growth? Michael, the rest as -- you have you own tightening quarters anyway, it where versus play like how bit. to your characterize the years the And to I guess, into online you how support industry efforts talked about supply And And bring I situation And of couple and I have then be to do couple say of supply. what can last how over done of the about different -- few supplies term that does over now Thanks. the your two, your does follow-up. if

Michael Hsing

bidding we're quarters to dollars we said couple in of a ago, capacity building Well, capability. a

year a that's and reason And We'll that in can a anticipated so reason last down. anyway. strategy. goes like we active all faster, from we pulling our just a little And these long-term do -- -- up

and years, recent So, the as okay, play early last futures a year pulling we for in the and we in increased the and with long-term as -- started obviously, capacities, but so. are ahead we demands. of -- of game facing at to delinquent. ahead market the little do are from futures looking And the -- near bit we still a continued We

Matt Ramsay

the as sense some that No, -- for color be segment my it. Bernie, makes the trends a consensus from how above to expecting as I well term guys. about quarter. is might give was long-term. in you're move oriented March. you near March Maybe by Thanks guess talk guidance if follow-up it you Got expecting the mean, December into you for you're I question one. the could more what

Bernie Blegen

Sure.

in in that industrial impacted most think saw and because we pandemic. I heavily probably COVID XXXX the were of both that revenue automotive

what half markets two really So year is we of significant momentum the and marked broad have XXXX. showed the we based. improvement But that saw of second those in into both go as we're

would trends in lot XXXX we saw So strong the is of which against. from to difficult that a we on, only compare be three the will that continue had exception benefited quarters that possibly communications, a

Genevieve Cunningham

now Our line next your question Tore Svanberg is open. is from from Stifel. Tore,

Tore Svanberg

on Congratulations Yes. Thank you. the execution.

I've your seen I actually days. So increasing far think company the inventory only you're that

where Could the us for the XXXX. you size congratulations stand Last right you So, in that on give about you talked ballpark had of they a now? delinquencies too. quarter

Michael Hsing

talk quarters, and bit the we quarter continued a of similar delinquencies last more. this think in relatively we're quite couple facing I are last we ago -- -- and quarter last is quarter about facing two a have quarters delinquent we

Bernie Blegen

face strong And reflection demand capacity in the that of I Yeah. constraints. of that's think industry-wide a continued

had have a about for this believe we're So, it good not last under but three the we certainly now well manage I'm handle level good to as And to it, four we've it. possible, we're actually control getting at saying on as at quarters. that

on anyone customer as on inventory we of the the the customer's most the we're of capacity to reason off -- either at or based that needs demand opposed And we year escalating So channel end to can the only shelves. shipments add it. in our last the end-user, we meet -- due and now is of a can most beginning fulfill we building

Tore Svanberg

your also my know as sort on XX-inch, But where geographical are on these talked And to new foundries follow-up partners you the talk you X-inch. about typically could point? capacity, you of this I foundry your second the good. name Very least at calls. about don't aspect at

Michael Hsing

we of fabs beginning to tried we're engagement -- China as we with what speaking and Now, and -- fab at with diversify exploring within engaged still the -- of a both the China outside outside China. could the be these and

Tore Svanberg

very again. Thank you Great. much. Congrats

Bernie Blegen

Thanks Tore.

Genevieve Cunningham

Our for Ross Ross, next your is Deutsche question Seymore line Bank. from is open. now

Ross Seymore

me? Can Hi, guys. you hear

Michael Hsing

clear. Loud, Yes.

Bernie Blegen

Ross. Hi,

Ross Seymore

there. Hi,

but it. only of the the relative analog So congratulations impressive, growth, especially not on diversity to group, the

is than As you looked at which coms, the XXXX is a difficult. year-over-year in whole, know I other

talked expected little bit you diverse. You to be a about

in If by not idiosyncratic of of you just be XXXX said, kind what some customer would the a market, obviously drivers, company specific specific. end things just

Bernie Blegen

Sure.

well those And said then design we wearables the demand as in have appliances, both a beginning year be think the the in both XXXX consumer up servers, a from the I and storage. seem the I console. was notebooks the three home or every seen what as in at increased as In as saw gaming in automotive, well handicapped be. at XXXX earlier, industrial really when and that run computing, in benefited of of look XXXX had to but are in where we've in center, circumstances terms guarantee it both going wins, as And year we refresh and we the powering of market of data uptick, market, once we can't also to the nice we the mobility.

were were showed unit some sales the introduced products half the lot on of strength limited, of second but of the new the we little a certainly in So, a year.

Ross Seymore

more then XXXX. was actually I if forgive Bernie, looking more drive sort back. me similar but about What forward of those misspoke. XXXX talking -- actually, And story, I

Michael Hsing

XXXX. a a to XXXX of I -- same it’s repeat it's think

Bernie Blegen

right. say us of only Michael's in the that I'd center. the the the a that, softness of pause in half there's to on exactly year first comparable communications little is related gives the -- half that from some outside thing be probably aside to the the computing data first But at going

Ross Seymore

Well, maybe that's a good …

Michael Hsing

it's But softness -- down. not the going

still Yeah. strong, more So, but still than a -- expected. is the as slightly as not demand we going

Ross Seymore

you debate orders? are in it. first on there et sustainability active lot the are hot cetera. How an would be investors this the analyze if you I as balance Got cetera, to the amongst and ordering, be balls real know seems because your just quality that But trust not are guys be guess to versus crystal is there's always just viewing my are demand seasonality is, quarter going might know to guidance, XX%. grow guys too things demand there's companies And of build kind of got breast et I the of foggy. I questioning the A framework, of supply a and follow-up. stumble then excess inventory and I but

Michael Hsing

Well we you from all opportunities at In XX% -- designing and look there. in okay, like -- and four XXXX, in -- I if mean, levels. three we to -- still or some years, things but these grow our X% grow past only it the the XX% right, in

I we XXXX. XXXX to -- mean, just Okay? shifted to from

again, in half first wasn't so in industrial And there. a the the year, automotive,

the a catch communications a half I'm year. else in like second So and a And -- missing up in what computing,

Bernie Blegen

Consumers.

Michael Hsing

-- than is these economy this Yeah, facing on a macro that and stronger -- consumers, all and shortages year real. little out but probably are bit and see these Buy product we beginning, Best can even stronger normal. we okay. will the And believe say never Amazon's we on from In XXXXs condition, these forecast a than the do we we it's that a I see a

Ross Seymore

you Thank congrats. and Okay.

Genevieve Cunningham

from line open. from Rick Rick, now is question your is next Oppenheimer. Our Schafer

Rick Schafer

A easy to wasn't ask And couple guess growth up my auto. of maybe me add execution with start a I'm this let it bigger your about there guys. pillars, the I like especially. of quarter, questions. sure Thanks. couple on I'd congratulations

it grew SAR I year, about XX% about XX. think with down last

So wind about growth. you optically, leads could mean, all XX% give of all limiting add body And talk looks that constraints, around that this upside guess this just kind to it I'm guys your here? at maybe potentially the little I growth it ADAS, what are year. indirect control? like year. I limiting BMS at supply just mean, about worried curious, something a -- part kick-in the more you and you Does do of could -- I second is sales question,

Michael Hsing

first. limiting part Growth your is utilization a about of talk and capacity. me second overall our total MPS for capacities Let by

thousand X,XXX utilize and the We parts As in inconceivable. have you few a capacities. -- we it's entire know, can it

auto to For we very just earlier, with the last Bernie in And very ADAS high are we these the quarter rent still and talk or product start we to these in see are we pleased are we can a said start modules as to other beginning. now the growth, okay, yes, past, we so. at all okay, orders, -- and Other the these have more customers -- that products in -- the start in liftgates we ramp. ramp lighting it see end stock have to -- beginning the to all the the But at it about just to power ramp. in from auto products We

Bernie Blegen

auto think Rick, its industry that, more capacity And supply or point chain. one that have just suffering stable we've is a I issues to own from able is being the read

demand impacting that QX ship. or to not numbers our directly ability at I As our look our is

Michael Hsing

Yeah.

all these small changes and revenue ramp of are We auto in initial presence so the in it in industry, a but needles stream. a market

Rick Schafer

of And asking what was kind that's about. Thanks. I

can't on ship. Michael, could secondary end somebody -- just worried else server. Maybe those hurting supply if question, cloud Just second my up constraints

I more data to where or ramp mover, QSMOD function could starts year for still talk it's a Rapids you were this in is potentially step that If center a year? looks up? kind isolate really revenues maybe mean, you Sapphire this like it how of see later needle that pick about as

Michael Hsing

-- the we see acronym, VR relate a I as growth. with can't I XX.X names ramping ramp now, is Yeah. the is mostly those that. -- a know is revenue these

I that'll VR a next year Now story. is think XX, a be --

Rick Schafer

Thanks.

Genevieve Cunningham

open. Alex from your is William from line question Vecchi Blair. Alex, next is Our now

Alex Vecchi

quarter-over-quarter. to on weighing are due to the that gross housekeeping market going Congratulations is margin points looking your that from is should me XX as or a Is increasing well. Bernie, to Maybe quarter then, more -- guys. you think costs impressive on midpoint on a flat Hi, guidance for question, of at just seeing basis manufacturing margins? any how back that forward? XX end resumption about the mix we And the sort

Michael Hsing

We margin. Yes. or -- is the see we lower consumers with too, slightly, growth you now even and the some and have -- gross the segment obviously

other yes. up. manufacturer The is hand, On the going costs

Alex Vecchi

And the helpful. That's you on the inventory target. XXX, then talked in Okay. just about day past days, your have XXX guys

in quarter. of think to inventory an improvements made You've getting some How about terms do we timing? back level ideal

Michael Hsing

it's is will inventory. Well, hope XXX difficult. be we end about it demand can of It of -- as We the days we end now. to think wouldn't to the keep XXX coming year, of go back

Bernie Blegen

Yeah.

I channel, it's or at you the we've look delinquencies. in already discussed and we particularly whether if the lean then right now, think our hold very on that it's inventory books

have we of lot catch to goal. before the we XXX-day to XXX up can the model really to do So, a get

Alex Vecchi

That's it along next. I'll the for Understood. pass to it me.

Genevieve Cunningham

Quinn, Quinn line is now from next from Bolton Our open. question Needham. Your is

Quinn Bolton

as congratulations my offer will I guys. well. Hey,

pretty makes year. mean, much question tall constraint XXX going is in get to delinquencies come like Just on back runners foundry Or able in the you of XXXX. very from environment. remain constraints high and up qualify is to fourth a the a five able those kind with to sound of wafer last being companies are new from saying the I tight your they to curious ability of those partners calendar supply parts volume wanted delinquencies. XX-inch is lot on Alex's of this of that some fab? all to -- on and order guess, it going which I your the year, fab to to delinquencies secure think Are to to in to follow-up just brought ability more capacity quarter more your meet ability that catch XXX supply online get to delinquencies how you other days, actually that

Bernie Blegen

for Yeah. the allowing It's opportunity context here. us question. more thanks great a give to And little a

the one is But were to able highlights we so were very parts fab, able it can to that that bringing qualify be and both meaningful new of deliveries both inventory XXXX. process delinquencies dressing With report them. as I of and that qualifying pleased be ship is well we more as capability, new in our mean, to to And the an and going far in as XX-inch as this ongoing. it's the require our investment we're up fab that parts

So few just full started, the a you the to nine months takes still and parts because qualified got we've have capability before XX we've process about of. it

Michael Hsing

In last increase rough capacity It's year. to calculations head, XX% XX%. by my about off our pointing is of -- from my increase XX% XXXX, we

Quinn Bolton

license customers shipments better guess, wondering had your now question to than might the to may have that's if just XXXX? just strong business to one able I'm ship. in large the days quarters of a perhaps comms longer the you that outlook do on my ago comms you have I case, a no XX I follow-up XXXX, was then resume now have and you three space. was in for Obviously, customer. believe And you very

Michael Hsing

Absolutely.

start -- to the a have placing now. -- and customer more clear orders will place We

Bernie Blegen

top starting come we think that tier opportunities and two to the half just And of -- the broadly a think I this tier, on to ramp Yeah. forms. I the There's might of one begin area. are you And see second But particular. second I customer think in more some customers infrastructure there's in XG with year. but identified other not in the

Quinn Bolton

you. Thank Great.

Genevieve Cunningham

William, is now open. your from next Our is from question Truist. William Stein line

William Stein

question. my taking a longer potentially I long-term to term perspective, the if for Michael, I'm wondering can growth to margins. know that's and on from selling that us very something is more update Thanks creative Great. you modules. transition

still I any think that the early you'd highlight? pretty process, in like we're quarter that to but movement in

Michael Hsing

the very middle high Bernie this is you it's Actually, the result ramps, of the in is a tell demand. okay, think the -- what I increase. is can what good

Bernie Blegen

quarter. we revenue to and doubled -- narrow also because it thought sequentially and that where it's is industrial. want likely with buy that to last might be fact, more well. of point unit to be But sustainable. volumes, increase that I we components thought modules applications, we interesting the people Silicon. go by continued it particularly more to just are fact, going seeing to exited in very had in people in year proven have that We they XXXX, Yeah. shipments is it's a in volume as And And broad would if and based What the mean lot that into we're

Michael Hsing

ago. like Yeah. modules I million are all so $XX total in don't a across -- so a our product have lines. I million, the year roughly, That's It's numbers for that $XX now, okay, mean, compare

half Bernie that. said, As of is it

William Stein

to we is just think next something service, in anticipated or you. return sort hopefully was the the see in and any like are then NOW your Any online for quarter? I the thing time And come change seemed in very work-from-home I in about one COVID if MPS that I'd to quarter did ask Great. of that that's offices other situation you change to change any to in able that helpful that two. for know

Michael Hsing

percent help. Yeah. everything's just just praise few pandemics. receiver we happens before thousand from just Yeah. up, increased -- the it the from customers. the All we set in softwares, And when terms This these enormous bench, that We the working our okay, is of a many up about. bench. right new from on and the it it's -- beginning turn videos, okay, it's also We great of virtual are the customers, and how pandemic a really, careful really we bench, set the our at videos

William Stein

you. Great. Thank

Genevieve Cunningham

is next your Our Kevin line Rosenblatt. from open. Garrigan question is Kevin, now from

Kevin Garrigan

the thanks my quarter on for Congrats question. and guys. Hi, taking

me. one quick Just for a

of You can segment, a to us in but you've kind of kind automobile give your more about can the Are talk -- automotive and kind little seeing you are those how wins of several this you But little your already alluded bit of the into earlier, a you design infotainment. progressing? expanded ones features besides of other some you wins there? have, design

Michael Hsing

I and to questions doubled we we pretty lightings is precise. controls but but the you -- -- in in the ADAS board BMS also -- And answer just that more board, the all think body clear while sites. ADAS all net see from the we design I the beginning, And -- Well, those everything's it. question answer expanded have sensors. pretty much have the across and The so we and And your content we to across revenue is wins MPS' but Rick to should to not have and from Schafer's to so our a small, -- change. but essentially $XXX, the much at $XXX, don't

Bernie Blegen

dollar complete bringing just sales, for is upwards just to $XX go or the having want content, of We the On is system. of that of to $XX part important but on. unit a because that some it's back an to I from content available we're this new applications not $XX go

expansion. both So, well the unit we're getting as the ASP as

Michael Hsing

opportunity. We're about a as small revenue not talking compare market the

now all that's the revenues. $X hundred have said, And in state. we dollars billion some As market as over MPS' And -- address product became we only a a as million we total total segments.

Bernie Blegen

$XXX million.

Michael Hsing

and year, Yeah. second $XXX in new half last of the product most of year. million from a started ramping

Bernie Blegen

Yeah.

Kevin Garrigan

you. Got Okay. it. Thank

Genevieve Cunningham

Seymore now from is your Ross, question line open. Ross from Deutsche Bank. is next Our

Ross Seymore

me a letting couple ask Hey guys, quick of for thanks follow-ups.

ones. quick two Just

the computing quarter? about also of that formerly First, ability sequentially to that prior answering question to product is you banned ship storage why or just banned in your an down space your Is the or customer. in some and fourth segment ban went comms the mentioned a

Bernie Blegen

don't about gotten is business of so One an the consumer, the three infrastructure. customers. have primary We the with generally and much we Again, one actually this data Sine one's lines visibility. center is them. in other is talk individual in

Ross Seymore

Infrastructure meaning comms, right?

Bernie Blegen

Yes.

Ross Seymore

Gotcha.

to or there forward able but you're not to all three Are two? Okay. difference stuff, them, -- And any the things? those is the out of ship ship is XG it what going able you other in of just

Michael Hsing

comm mean, and business okay. blocks, there's in also Well, our -- -- products former … particularly there again, the says a form building I

Bernie Blegen

center. Data

Michael Hsing

data they It's it. -- in exactly we -- And divide consumer The how know. continues. device pretty -- okay. don't shared the the the that know what it's in much But consumer product. centers, more they a device same we And -- chargers,

Bernie Blegen

Yeah.

Ross Seymore

Bernie, a more question for you is about what thinking XXXX? housekeeping the little then, tax And rate wise. bit are Gotcha. last

Bernie Blegen

Yeah.

may we've it on to stock comp we've certain as And then, and non-GAAP prior now deductible going So, basis, looking to as is a historically we're years. to was that in a ahead, represents not XX%, not used any there's do. which X.X% But that the on try the need what moved be higher guess administration that out increases that profits. international tax think to I to the to going domestic well rate be is a we fact sensitive as there as Biden both rate in

Michael Hsing

point. at know don't We Yeah. this

Ross Seymore

guys. Got it. Thanks

Genevieve Cunningham

any raise are questions, click hand there follow-up If the please button.

As there to questions, are further I'd turn like webinar Bernie. to no the over back

Bernie Blegen

which XXXX, the you your first quarter this us April Thanks everybody. and of nice a conference to day. be have joining the again, Great. in talking for forward you timeframe. to Thank and Appreciate should likely call again look

Monolithic Power Systems (MPWR) 5 Feb 212020 Q4 Earnings call transcript