MOSAID Reports Results for Second Quarter Fiscal 2012

The following chart indicates the contractual obligations to which the Company is bound over the following five years.

                           Payments Due by Period                           

                          (in thousands of dollars)                         
----------------------------------------------------------------------------
Contractual                        Less than                         After 5
 Obligations               Total      1 year   1-3 years  4-5 years    years
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Operating leases         $ 1,488       $ 459       $ 894      $ 135        -

Other long-term                                                             
 obligations             113,259      11,922      21,112     80,225        -
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Total contractual                                                           
 obligations            $114,747     $12,381     $22,006    $80,360        -
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Fair Value

The fair values of cash and cash equivalents, marketable securities, accounts receivable, accounts payable and accrued liabilities approximates their carrying values due to their short-term maturity.

The fair value of long-term obligations is determined using the present value of future cash flows under current financing agreements, based on the Company's current estimated borrowing rate for loans with similar terms and conditions.

The fair value of the forward exchange contracts reflects the cash flow due to or from the Company if settlement had taken place on the reporting date.

The fair value of employee and director DSUs is determined in relation to the market price of the Company's common stock on the reporting date taking into account the terms and conditions under which the units were granted.

Financial instruments recorded at fair value on the Consolidated Balance Sheet are classified using a fair value hierarchy that reflects the significance of the inputs used in making the measurements.

The fair value hierarchy requires the use of observable market inputs whenever such inputs exist. A financial instrument is classified to the lowest level of the hierarchy for which a significant input has been considered in measuring fair value.

The following table presents the financial instruments recorded at fair value in the Consolidated Balance Sheet, classified using the fair value hierarchy described above:


October 31, 2011                                                            
----------------------------------------------------------------------------
                                                            Total Financial 
                                                                 Assets and 
                                                                  Financial 
                                                                Liabilities 
                           Level 1     Level 2    Level 3     at Fair Value 
----------------------------------------------------------------------------

Cash and cash                                                               
 equivalents              $106,999          $-          -          $106,999 
Marketable securities        8,940           -          -             8,940 
Other asset                      -        (724)         -              (724)
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                          $115,939       $(724)         -          $115,215 
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  April 30, 2011                                                            
----------------------------------------------------------------------------
                                                            Total Financial 
                                                                            Assets  and  
                                                                                                                                    Financial  
                                                                                                                                Liabilities  
                                                      Level  1          Level  2        Level  3          at  Fair  Value  
----------------------------------------------------------------------------

Cash  and  cash                                                                                                                              
  equivalents                              $97,809                    $-                    -                      $97,809  
Marketable  securities              17,021                      -                    -                        17,021  
Other  liability                                    -              1,136                    -                          1,136  
----------------------------------------------------------------------------
                                                    $114,830            $1,136                    -                    $115,966  


    May  1,  2010                                                                                                                              
----------------------------------------------------------------------------
                                                                                                                        Total  Financial  
                                                                                                                                  Assets  and  
                                                                                                                                    Financial  
                                                                                                                                Liabilities  
                                                      Level  1          Level  2        Level  3          at  Fair  Value  
----------------------------------------------------------------------------

Cash  and  cash                                                                                                                              
  equivalents                              $70,732                    $-                    -                      $70,732  
Marketable  securities              30,096                      -                    -                        30,096  
Other  asset                                            -              2,053                    -                          2,053  
Other  liability                                    -                (992)                  -                            (992)
----------------------------------------------------------------------------
                                                    $100,828            $1,061                    -                    $101,889  
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12. Business Segment Information
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