MoSys, Inc. Reports Third Quarter 2009 Financial Results

About MoSys, Inc.

Founded in 1991, MoSys (NASDAQ: MOSY), develops, markets and licenses differentiated embedded memory and high speed parallel and serial interface IP for advanced SoC designs. MoSys’ patented 1T-SRAM and 1T-FLASH memory technologies offer a combination of high density, low power consumption, high speed and low cost advantages that are unmatched by other available memory technologies for a variety of home entertainment, mobile consumer, networking and storage applications. MoSys’ silicon-proven interface IP portfolio includes DDR3/2 Combo PHYs, as well as SerDes IP that support data rates from 1 Gigabit per second (Gbps) to 10 Gbps, across a wide range of standards, including PCI-Express, XAUI, SATA, USB and 10G KR. 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 ™ is a trademark of MoSys, Inc.


MOSYS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts; unaudited)

			Three Months Ended						Nine Months Ended
			September 30,						September 30,
			2009			2008			2009			2008

Net Revenue
	Licensing		$	1,332		$	1,198		$	2,162		$	2,297
	Royalty			2,036			2,856			5,753			7,769
		Total net revenue		3,368			4,054			7,915			10,066

Cost of Net Revenue
	Licensing			682			845			1,278			2,158
		Total cost of net revenue		682			845			1,278			2,158

Gross Profit				2,686			3,209			6,637			7,908

Operating Expenses
	Research and development			5,180			4,175			12,947			13,012
	Selling, general and administrative			2,202			2,641			6,780			8,923
	Acquisition-related costs			488			-			922			-
	Restructuring charges			-			-			706			-
		Total operating expenses		7,870			6,816			21,355			21,935

	Loss from operations			(5,184	)		(3,607	)		(14,718	)		(14,027	)

	Other income, net			139			391			493			2,026
		Loss before income taxes		(5,045	)		(3,216	)		(14,225	)		(12,001	)

	Provision for income taxes			(3	)		(22	)		(36	)		(111	)

Net loss			$	(5,048	)	$	(3,238	)	$	(14,261	)	$	(12,112	)

Net loss per share
	Basic and diluted			($0.16	)		($0.10	)		($0.46	)		($0.38	)

Shares used in computing net loss per share
	Basic and diluted			31,205			31,777			31,239			31,719


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						Nine Months Ended
		September 30,						September 30,
		2009			2008			2009			2008

GAAP net loss		$	(5,048	)	$	(3,238	)	$	(14,261	)	$	(12,112	)
	Stock-based compensation expense
	-Cost of net revenue		90			111			162			342
	-Research and development		332			207			785			936
	-Selling, general and administrative		503			660			1,213			2,299
	Total stock-based compensation expense		925			978			2,160			3,577

	Restructuring charges (1)		-			-			706			-
	Amortization of intangible assets (2)		643			197			820			591
	Acquisition-related transaction costs (3)		-			-			300			-
	Acquisition-related contingent compensation charges (4)		488			-			622			-

Non-GAAP net loss		$	(2,992	)	$	(2,063	)	$	(9,653	)	$	(7,944	)

GAAP net loss per share			($0.16	)		($0.10	)		($0.46	)		($0.38	)
	Reconciling items
	-Stock-based compensation expense		0.03			0.03			0.07			0.11
	-Restructuring charges (1)		-			-			0.02			-
	-Amortization of intangible assets (2)		0.02			0.01			0.03			0.02
	-Acquisition-related transaction costs (3)		-			-			0.01			-
	-Acquisition-related contingent compensation charges (4)		0.01			-			0.02			-

Non-GAAP net loss per share: Basic and diluted			($0.10	)		($0.06	)		($0.31	)		($0.25	)

Shares used in computing non-GAAP net loss per share
	Basic and diluted		31,205			31,777			31,239			31,719

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