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 54 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.