MoSys, Inc. Reports First Quarter 2010 Financial Results


MOSYS, INC.
Reconciliation of GAAP to Non-GAAP Net Loss and Net Loss Per Share
(In thousands, except per share amounts; unaudited)

	Three Months Ended
	March 31,
		2010			2009 (1)

GAAP net loss	$	(5,726	)	$	(4,209	)
Stock-based compensation expense
-Cost of net revenue		82			35
-Research and development		319			233
-Selling, general and administrative		304			309
Total stock-based compensation expense		705			577

Restructuring charges (2)		-			275
Amortization of intangible assets (3)		643			-
Acquisition-related contingent compensation charges (4)		502			-
Acquisition-related transaction costs (5)		195			-

Non-GAAP net loss	$	(3,681	)	$	(3,357	)

GAAP net loss per share		($0.18	)		($0.13	)
Reconciling items
-Stock-based compensation expense		0.02			0.01
-Restructuring charges (2)		-			0.01
-Amortization of intangible assets (3)		0.02			-
-Acquisition-related contingent compensation charges (4)		0.01			-
-Acquisition-related transaction costs (5)		0.01			-

Non-GAAP net loss per share: Basic and diluted		($0.12	)		($0.11	)

Shares used in computing non-GAAP net loss per share
Basic and diluted		31,262			31,322

(1) Amounts of stock-based compensation expense have been revised from those reported or announced previously to reflect immaterial increases in stock-based compensation resulting from calculation errors in the third-party stock administration software used by the Company.
(2) Charges related to the exit of the analog/mixed-signal product lines.
(3) Non-cash charges for amortization of intangibles arising from acquired assets.
(4) Contingent earn-out compensation charges arising from acquisitions. Amounts included in research and development and selling, general and administrative expenses are $488,000 and $14,000, respectively.
(5) Charges primarily related to legal and accounting fees incurred for the acquisition of MagnaLynx, Inc.
These charges are included in selling, general and administrative expenses.

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