About MoSys, Inc.
Founded in 1991, MoSys (NASDAQ: MOSY), develops, markets and licenses innovative embedded memory intellectual property (IP) technologies for advanced systems-on-chips (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' embedded memory IP has been included in more than 160 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 | Twelve Months Ended | ||||||||||||||||||
| December 31, | December 31, | ||||||||||||||||||
| 2008 | 2007 | 2008 | 2007 | ||||||||||||||||
| Net Revenue | |||||||||||||||||||
| Licensing | $ | 859 | $ | 388 | $ | 3,156 | $ | 5,253 | |||||||||||
| Royalty | 3,101 | 2,511 | 10,870 | 9,081 | |||||||||||||||
| Total net revenue | 3,960 | 2,899 | 14,026 | 14,334 | |||||||||||||||
| Cost of Net Revenue | |||||||||||||||||||
| Licensing | 642 | 825 | 2,800 | 2,737 | |||||||||||||||
| Total cost of net revenue | 642 | 825 | 2,800 | 2,737 | |||||||||||||||
| Gross Profit | 3,318 | 2,074 | 11,226 | 11,597 | |||||||||||||||
| Operating Expenses | |||||||||||||||||||
| Research and development | 4,005 | 4,174 | 16,426 | 11,594 | |||||||||||||||
| Selling, general and administrative | 2,952 | 3,309 | 11,875 | 11,659 | |||||||||||||||
| In-process research and development | - | - | - | 966 | |||||||||||||||
| Amortization of intangible assets | 151 | 197 | 742 | 394 | |||||||||||||||
| Impairment of intangible assets | 1,379 | - | 1,379 | - | |||||||||||||||
| Restructuring charge | 1,334 | - | 1,334 | - | |||||||||||||||
| Total operating expenses | 9,821 | 7,680 | 31,756 | 24,613 | |||||||||||||||
| Loss from operations | (6,503 | ) | (5,606 | ) | (20,530 | ) | (13,016 | ) | |||||||||||
| Other income, net | 217 | 1,015 | 2,243 | 4,520 | |||||||||||||||
| Loss before income taxes | (6,286 | ) | (4,591 | ) | (18,287 | ) | (8,496 | ) | |||||||||||
| Benefit (provision) for income taxes | (21 | ) | 8 | (132 | ) | (25 | ) | ||||||||||||
| Net loss | $ | (6,307 | ) | $ | (4,583 | ) | $ | (18,419 | ) | $ | (8,521 | ) | |||||||
| Net loss per share | |||||||||||||||||||
| Basic and diluted | ($0.20 | ) | ($0.14 | ) | ($0.58 | ) | ($0.27 | ) | |||||||||||
| Shares used in computing net loss per share | |||||||||||||||||||
| Basic and diluted | 31,623 | 32,117 | 31,698 | 31,994 | |||||||||||||||
