MoSys, Inc. Reports Third Quarter 2009 Financial Results

(1) Charges related to the exit of the analog/mixed-signal product lines and closure of the Korea office.

(2) Non-cash charges for amortization of intangibles arising from acquired assets. These charges are included in research and development expenses.

(3) Charges primarily related to legal and accounting fees incurred from the acquisition of Prism Circuits, Inc. These charges are included in selling, general and administrative expenses.

(4) Contingent earn-out compensation charges arising from the acquisition of Prism Circuits, Inc.

   
MOSYS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, unaudited)
   
September 30, December 31,
2009 2008
 
Assets
Current assets:
Cash, cash equivalents and investments $ 31,998 $ 44,075
Accounts receivable, net 1,298 688
Unbilled contract receivables 1,083 428
Prepaid expenses and other assets   3,221   2,158
Total current assets 37,600 47,349
 
Long-term investments 10,671 23,395
Property and equipment, net 1,392 958
Goodwill 23,017 12,326
Intangible assets, net 5,260 -
Other assets   238   1,905
Total assets $ 78,178 $ 85,933
 
 
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $ 501 $ 167
Accrued expenses and other liabilities 1,877 2,235
Accrued acquisition earn-out liability 5,171 -
Accrued restructuring liabilities 165 1,004
Deferred revenue   1,587   639
Total current liabilities 9,301 4,045
 
Long-term liabilities 156 -
 
Stockholders' equity 68,721 81,888
   
Total liabilities and stockholders’ equity $ 78,178

$

85,933


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