MoSys, Inc. Reports Second Quarter 2008 Financial Results

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, Gigabit 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 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   Six Months Ended
June 30, June 30,
  2008       2007     2008       2007  
 
Net Revenue
Licensing $ 667 $ 2,159 $ 1,099 $ 3,317
Royalty   2,528     2,170     4,913     4,149  
Total net revenue 3,195 4,329 6,012 7,466
 
Cost of Net Revenue
Licensing   833     678     1,313     1,242  
Total cost of net revenue 833 678 1,313 1,242
 
Gross Profit 2,362 3,651 4,699 6,224
 
Operating Expenses
Research and development 4,344 2,101 8,443 4,179
Selling, general and administrative 2,926 2,825 6,282 5,405
Amortization of acquired intangible assets   197     -     394     -  
Total operating expenses 7,467 4,926 15,119 9,584
 
Loss from operations (5,105 ) (1,275 ) (10,420 ) (3,360 )
 
Other income/expenses   561     1,232     1,635     2,296  
Loss before income taxes (4,544 ) (43 ) (8,785 ) (1,064 )
 
Provision for income taxes   (46 )   (103 )   (89 )   (51 )
 
Net loss $ (4,590 ) $ (146 ) $ (8,874 ) $ (1,115 )
 
Net loss per share
Basic and diluted ($0.14 ) ($0.00 ) ($0.28 ) ($0.04 )
 
Shares used in computing net loss per share
Basic and diluted 31,703 31,945 31,690 31,820

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