MoSys, Inc. Reports First Quarter 2010 Financial Results


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

	March 31,		December 31,
		2010		2009 (1)

Assets
Current assets:
Cash, cash equivalents and investments	$	21,876	$	31,338
Accounts receivable, net		1,589		739
Unbilled contract receivables		630		1,022
Prepaid expenses and other assets		3,045		3,235
Total current assets		27,140		36,334

Long-term investments		12,059		9,098
Property and equipment, net		1,472		1,561
Goodwill		23,134		22,787
Intangible assets, net		8,413		4,616
Other assets		1,263		1,147
Total assets	$	73,481	$	75,543

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	485	$	514
Accrued expenses and other liabilities		3,081		1,750
Accrued acquisition-related earn-out costs		7,146		5,659
Accrued restructuring liabilities		73		112
Deferred revenue		2,312		2,671
Total current liabilities		13,097		10,706

Long-term liabilities		615		136

Stockholders' equity		59,769		64,701

Total liabilities and stockholders’ equity	$	73,481	$	75,543

(1) Financial statement has been retroactively adjusted to reflect a decrease in the fair value of the contractual obligations assumed as part of the acquisition of Prism Circuits, Inc.