EZchip Semiconductor Ltd.
Selected Condensed Consolidated Cash Flow Data on a Non-GAAP basis
(U.S. Dollars in thousands)
(Unaudited)
Twelve Months
Three Months Ended Ended
---------------------------------- --------------------
December September December December December
31, 30, 31, 31, 31,
2011 2011 2010 2011 2010
-------- --------- -------- -------- --------
Cash flows from
operating
activities:
Net income (loss) $ (5,953) $ 7,650 $ 4,026 $ 7,942 $ 13,643
Adjustments to
reconcile net
income (loss) to
net cash provided
by operating
activities:
Repayment of OCS
grants* 9,938 -- -- 9,938 --
Depreciation and
amortization 163 162 696 1,227 2,887
Decrease
(increase) in
trade and other
receivables, net 1,113 (2,100) (1,677) (621) 2,133
Decrease
(increase) in
inventory 259 (87) (913) (1,266) (2,989)
Decrease in
deferred tax
asset -- -- 2,303 3,513 8,162
Increase
(decrease) in
trade payables
and other accrued
liabilities, net 1,213 (1,996) (608) (494) (4,077)
Stock-based
compensation 2,218 2,192 1,632 8,606 5,830
-------- --------- -------- -------- --------
Net cash provided
by operating
activities 8,951 5,821 5,459 28,845 25,589
-------- --------- -------- -------- --------
Cash flows from
investing
activities:
Purchase of
property and
equipment (97) (138) (74) (411) (385)
Purchase of
technology (500) -- -- (500) --
Cash paid for
investment in
affiliated
Company -- -- -- -- (200)
-------- --------- -------- -------- --------
Net cash used in
investing
activities (597) (138) (74) (911) (585)
-------- --------- -------- -------- --------
Cash flows from
financing
activities:
Proceeds from
issuance of share
capital -- -- -- -- 1,072
Proceeds from
exercise of
options 711 1,466 2,890 8,082 7,988
-------- --------- -------- -------- --------
Net cash provided
by financing
activities 711 1,466 2,890 8,082 9,060
-------- --------- -------- -------- --------
Repayment of OCS
grants* (9,938) -- -- (9,938) --
Unrealized gain
(loss) on
marketable
securities, net 6 (542) (99) (618) 8
-------- --------- -------- -------- --------
Increase
(decrease) in
cash, cash
equivalents and
marketable
securities (867) 6,607 8,176 25,460 34,072
Cash, cash
equivalents and
marketable
securities at the
beginning of the
period 127,637 121,030 93,134 101,310 67,238
-------- --------- -------- -------- --------
Cash, cash
equivalents and
marketable
securities at the
end of the period $126,770 $127,637 $101,310 $126,770 $101,310
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