KIRKLAND, Wash. (AP) _ Monolithic Power Systems Inc. (MPWR) on Tuesday reported first-quarter net income of $45.4 million.

The Kirkland, Washington-based company said it had net income of 95 cents per share. Earnings, adjusted for one-time gains and costs, were $1.46 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The chipmaker posted revenue of $254.5 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $242.1 million.

For the current quarter ending in July, Monolithic said it expects revenue in the range of $274 million to $286 million.

Monolithic shares have decreased roughly 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $334.12, a rise of 76% 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