Virage Logic Reports Third Quarter Fiscal Year 2008 Results

Virage Logic Corporation Unaudited Condensed Consolidated Balance Sheets (In thousands)

	June 30, 2008			September 30, 2007
ASSETS
Current assets:
Cash and cash equivalents	$	18,670		$	14,820
Short-term investments		24,990			42,840
Accounts receivable, net		15,156			12,170
Costs in excess of related billings on uncompleted contracts		1,302			1,134
Deferred tax assets – current		1,938			1,939
Prepaid expenses and other current assets		3,085			4,766
Taxes receivable		2,600			2,320
Total current assets		67,741			79,989

Property, equipment and leasehold improvements, net		3,629			3,643
Goodwill		12,011			11,355
Other intangible assets, net		6,689			2,705
Deferred tax assets		14,227			13,178
Long-term investments		29,578			17,528
Other long-term assets		328			473

Total assets	$	134,203		$	128,871

LIABILITIES AND STOCKHOLDERS ’ EQUITY
Current liabilities:
Accounts payable	$	476		$	1,027
Accrued expenses		7,500			4,659
Deferred revenue		7,903			8,996
Income taxes payable		2,867			2,992
Total current liabilities		18,746			17,674
Deferred tax liabilities		978			978
Total liabilities		19,724			18,652

Stockholders ’ equity:
Common stock		24			23
Additional paid-in capital		139,786			135,926
Accumulated other comprehensive income		807			1,009
Accumulated deficit		(26,138	)		(26,739	)
Total stockholders ’ equity		114,479			110,219

Total liabilities and stockholders ’ equity	$	134,203		$	128,871