* 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. During 2011, EZchip Technologies,
the Company's main subsidiary completed the utilization of the deferred
tax asset, and started to enjoy the ten year period of exemption from
Israeli corporate taxes due to benefits provided pursuant to its 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 December
30, 31,
2012 2011
(Unaudited) (Audited)
ASSETS
CURRENT ASSETS:
Cash, cash equivalents, marketable securities and deposits $ 160,081 $ 126,770
Trade receivables, net 4,288 8,655
Other receivables 2,463 1,837
Inventories 5,471 5,788
----------- -----------
Total current assets 172,303 143,050
NON CURRENT ASSETS:
Severance pay fund 5,513 5,215
Long term investment and others 330 337
----------- -----------
Total non current assets 5,843 5,552
PROPERTY AND EQUIPMENT, NET 993 828
INTANGIBLE ASSETS, NET 1,052 1,205
GOODWILL 96,276 96,276
----------- -----------
TOTAL ASSETS $ 276,467 $ 246,911
=========== ===========
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Trade payables $ 385 $ 2,319
Other payables and accrued
expenses 5,389 6,352
----------- -----------
Total current liabilities 5,774 8,671
ACCRUED SEVERANCE PAY 6,481 6,081
SHAREHOLDERS' EQUITY:
Share capital 161 155
Additional paid-in capital 308,794 288,641
Accumulated other comprehensive income (loss) 122 (960)
Accumulated deficit (44,865) (55,677)
----------- -----------
Total shareholders' equity 264,212 232,159
----------- -----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 276,467 $ 246,911
=========== ===========
