MoSys, Inc. Reports Second Quarter 2009 Financial Results


MOSYS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, unaudited)

	June 30,	December 31,
	2009	2008

Assets
Current assets:
Cash, cash equivalents and investments	$ 25,055	$ 44,075
Accounts receivable, net	1,030	688
Unbilled contract receivables	2,515	428
Prepaid expenses and other assets	2,236	2,158
Total current assets	30,836	47,349

Long-term investments	20,385	23,395
Property and equipment, net	1,097	958
Goodwill (1)	22,584	12,326
Intangible assets, net (2)	5,903	-
Other assets	1,507	1,905
Total assets	$ 82,312	$ 85,933


Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$ 401	$ 167
Accrued expenses and other liabilities	1,914	2,235
Accrued restructuring liabilities	473	1,004
Deferred revenue	1,937	639
Total current liabilities	4,725	4,045

Long-term liabilities (3)	4,684	-

Stockholders' equity	72,903	81,888

Total liabilities and stockholders’ equity	$ 82,312	$ 85,933

(1) Includes $10.3 million arising from the acquisition of Prism Circuits, Inc.
(2) Represents intangible assets, net of amortization, recorded from the acquisition of Prism Circuits, Inc.
(3) Represents the liability for future payment of the earn-out from the acquisition of Prism Circuits, Inc., reduced by $1.9 million that will be recognized as compensation expense over 12 months, if the applicable earn-out provisions are met.