About MoSys, Inc.
MoSys, Inc. (NASDAQ: MOSY) develops serial chip-to-chip communications solutions that deliver unparalleled bandwidth performance for next generation networking systems and advanced system-on-chip (SoC) designs. MoSys’ IP portfolio includes DDR3 PHYs and SerDes IP that support data rates from 1 - 11 Gigabits per second (Gbps) across a variety of standards. In addition, MoSys offers its flagship, patented 1T-SRAM® and 1T-Flash® memory cores, which offer a combination of high-density, low power consumption, high speed and low cost advantages for high-performance networking, computing, storage and consumer/graphics applications. MoSys IP is production-proven in more than 225 million devices. MoSys is headquartered in Sunnyvale, California. More information is available on MoSys' website at www.mosys.com.
MoSys, 1T-SRAM and 1T-Flash are registered trademarks of MoSys, Inc. The MoSys logo and Bandwidth Engine is a trademark of MoSys, Inc. All other trademarks mentioned herein are the intellectual property of their respective owners.
MOSYS, INC. | ||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
(In thousands, except per share amounts; unaudited) | ||||||||||||||||
Three Months Ended | Twelve Months Ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2009 |
2008 (1) |
2009 |
2008 (1) |
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Net Revenue | ||||||||||||||||
Licensing | $ | 1,314 | $ | 859 | $ | 3,476 | $ | 3,156 | ||||||||
Royalty | 2,229 | 3,101 | 7,982 | 10,870 | ||||||||||||
Total net revenue | 3,543 | 3,960 | 11,458 | 14,026 | ||||||||||||
Cost of Net Revenue | ||||||||||||||||
Licensing | 720 | 641 | 1,993 | 2,797 | ||||||||||||
Total cost of net revenue | 720 | 641 | 1,993 | 2,797 | ||||||||||||
Gross Profit | 2,823 | 3,319 | 9,465 | 11,229 | ||||||||||||
Operating Expenses | ||||||||||||||||
Research and development | 5,148 | 4,156 | 18,145 | 17,206 | ||||||||||||
Selling, general and administrative | 2,521 | 3,058 | 9,207 | 12,006 | ||||||||||||
Acquisition-related costs | 488 | - | 1,410 | - | ||||||||||||
Impairment of intangible assets | - | 1,379 | - | 1,379 | ||||||||||||
Restructuring charges | - | 1,334 | 706 | 1,334 | ||||||||||||
Total operating expenses | 8,157 | 9,927 | 29,468 | 31,925 | ||||||||||||
Loss from operations | (5,334 | ) | (6,608 | ) | (20,003 | ) | (20,696 | ) | ||||||||
Other income, net | 251 | 217 | 744 | 2,243 | ||||||||||||
Loss before income taxes | (5,083 | ) | (6,391 | ) | (19,259 | ) | (18,453 | ) | ||||||||
Provision for income taxes | 191 | (21 | ) | 155 | (132 | ) | ||||||||||
Net loss | $ | (4,892 | ) | $ | (6,412 | ) | $ | (19,104 | ) | $ | (18,585 | ) | ||||
Net loss per share | ||||||||||||||||
Basic and diluted | ($0.16 | ) | ($0.20 | ) | ($0.61 | ) | ($0.59 | ) | ||||||||
Shares used in computing net loss per share | ||||||||||||||||
Basic and diluted | 31,219 | 31,623 | 31,238 | 31,698 | ||||||||||||
(1) Financial statements have been revised to reflect immaterial increases in stock-based compensation resulting from calculation errors in the third-party stock administration software used by the Company. |