* Taxes on income represent the non-cash utilization of a deferred tax asset with respect to the Company's estimate of its accumulated taxable income in accordance with FASB ASC 740. Once the Company completes the utilization of the deferred tax asset, the Company expects to be exempt from Israeli companies taxes for a period of ten years due to benefits provided to the Company pursuant to the Company's Israeli approved and privileged enterprise programs.
** In calculating diluted non-GAAP net income per share, the diluted weighted average number of shares outstanding excludes the effects of stock-based compensation expenses in accordance with FASB ASC 718.
EZchip Semiconductor Ltd. Condensed Consolidated Balance Sheet (U.S. Dollars in thousands) September 30, December 31, 2011 2010 ------------- ------------- (Unaudited) (Audited) ASSETS CURRENT ASSETS: Cash, cash equivalents and marketable securities $ 127,637 $ 101,310 Trade receivables, net 10,339 8,988 Other receivables 1,260 1,178 Inventories 6,047 4,522 Deferred tax assets, net -- 3,443 ---------- ---------- Total current assets 145,283 119,441 NON CURRENT ASSETS: Severance pay fund 5,185 5,209 Long term investment and others 343 335 ---------- ---------- Total non current assets 5,528 5,544 PROPERTY AND EQUIPMENT, NET 510 419 Goodwill 96,276 96,276 Intangible assets, net 300 1,181 ---------- ---------- TOTAL ASSETS $ 247,897 $ 222,861 ========== ========== LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Trade payables $ 716 $ 1,289 Other payables and accrued expenses 5,663 6,569 ---------- ---------- Total current liabilities 6,379 7,858 LONG TERM LIABILITIES: Accrued severance pay 6,082 5,974 SHAREHOLDERS' EQUITY: Share capital 154 149 Additional paid-in capital 285,713 271,959 Accumulated other comprehensive income (loss) (707) 540 Accumulated deficit (49,724) (63,619) ---------- ---------- Total shareholders' equity 235,436 209,029 ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 247,897 $ 222,861 ========== ==========