MoSys, Inc. Reports Second Quarter 2009 Financial Results
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MOSYS, INC.
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CONDENSED CONSOLIDATED BALANCE SHEETS
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(in thousands, unaudited)
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June 30,
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December 31,
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2009
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2008
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Assets
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Current assets:
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Cash, cash equivalents and investments
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$ 25,055
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$ 44,075
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Accounts receivable, net
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1,030
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688
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Unbilled contract receivables
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2,515
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428
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Prepaid expenses and other assets
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2,236
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2,158
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Total current assets
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30,836
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47,349
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Long-term investments
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20,385
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23,395
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Property and equipment, net
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1,097
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958
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Goodwill (1)
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22,584
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12,326
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Intangible assets, net (2)
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5,903
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-
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Other assets
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1,507
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1,905
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Total assets
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$ 82,312
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$ 85,933
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Liabilities and Stockholders’ Equity
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Current liabilities:
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Accounts payable
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$ 401
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$ 167
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Accrued expenses and other liabilities
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1,914
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2,235
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Accrued restructuring liabilities
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473
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1,004
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Deferred revenue
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1,937
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639
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Total current liabilities
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4,725
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4,045
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Long-term liabilities (3)
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4,684
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-
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Stockholders' equity
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72,903
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81,888
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Total liabilities and stockholders’ equity
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$ 82,312
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$ 85,933
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(1) Includes $10.3 million arising from the acquisition of Prism
Circuits, Inc.
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(2) Represents intangible assets, net of amortization, recorded from
the acquisition of Prism Circuits, Inc.
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(3) Represents the liability for future payment of the earn-out
from the acquisition of Prism Circuits, Inc., reduced by $1.9
million that will be recognized as compensation expense over 12
months, if the applicable earn-out provisions are met.
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