About MoSys, Inc.
Founded in 1991, MoSys (NASDAQ: MOSY), develops, markets and licenses innovative embedded memory and analog/mixed-signal intellectual property (IP) technologies for advanced SoCs used in a variety of home entertainment, mobile consumer, networking and storage applications. MoSys' patented 1T-SRAM and 1T-FLASH technologies offer a combination of high density, low power consumption, high speed and low cost unmatched by other available memory technologies. MoSys’ advanced analog/mixed-signal technologies include highly integrated Blu-ray DVD, Gibabit Ethernet, Serial ATA, and a range of high speed phase lock loop and analog-to-digital converter IP. MoSys' embedded memory IP has been included in more than 140 million devices demonstrating silicon-proven manufacturability in a wide range of processes and applications. MoSys is headquartered at 755 N. Mathilda Avenue, Sunnyvale, California 94085. More information is available on MoSys' website at http://www.mosys.com.
MoSys and 1T-SRAM are registered trademarks of MoSys, Inc. 1T-FLASH(TM) is a trademark of MoSys, Inc.
| MOSYS, INC. | ||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| (In thousands, except per share amounts; unaudited) | ||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2008 | 2007 | |||||||
| Net Revenue | ||||||||
| Licensing | 432 | 1,158 | ||||||
| Royalty | 2,385 | 1,979 | ||||||
| Total net revenue | 2,817 | 3,137 | ||||||
| Cost of Net Revenue | ||||||||
| Licensing | 480 | 564 | ||||||
| Total cost of net revenue | 480 | 564 | ||||||
| Gross Profit | 2,337 | 2,573 | ||||||
| Operating Expenses | ||||||||
| Research and development | 4,099 | 2,078 | ||||||
| Selling, general and administrative | 3,356 | 2,580 | ||||||
| Amortization of acquired intangible assets | 197 | - | ||||||
| Total operating expenses | 7,652 | 4,658 | ||||||
| Loss from operations | (5,315 | ) | (2,085 | ) | ||||
| Other income/expenses | 1,074 | 1,064 | ||||||
| Loss before income taxes | (4,241 | ) | (1,021 | ) | ||||
| Benefit (provision) for income taxes | (43 | ) | 52 | |||||
| Net loss | $ | (4,284 | ) | $ | (969 | ) | ||
| Net loss per share | ||||||||
| Basic and diluted | ($0.14 | ) | ($0.03 | ) | ||||
| Shares used in computing net loss per share | ||||||||
| Basic and diluted | 31,673 | 31,689 | ||||||
| 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, | ||||||||
| 2008 | 2007 | |||||||
| GAAP net loss | $ | (4,284 | ) | $ | (969 | ) | ||
| Stock-based compensation expense | ||||||||
|
-Cost of net revenue |
80 | 100 | ||||||
|
-Research and development |
373 | 250 | ||||||
|
-Selling, general and administrative |
813 | 412 | ||||||
| Total stock-based compensation expense | 1,266 | 762 | ||||||
| Amortization of acquired intangible assets | 197 | - | ||||||
| Non-GAAP net loss | $ | (2,821 | ) | $ | (207 | ) | ||
| GAAP net loss per share | ($0.14 | ) | ($0.03 | ) | ||||
| Reconciling items: | ||||||||
|
-Stock-based compensation expense |
0.04 | 0.02 | ||||||
|
-Amortization of acquired intangible assets |
0.01 | - | ||||||
| Non-GAAP net loss per share: Basic and diluted | ($0.09 | ) | ($0.01 | ) | ||||
| Shares used in computing non-GAAP net loss per share | ||||||||
| Basic and diluted | 31,673 | 31,689 | ||||||
