Virage Logic Reports First Quarter Fiscal Year 2010 Results
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Virage Logic Corporation
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Unaudited Consolidated Balance Sheets
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(In thousands)
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December 31,
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September 30,
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2009
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2009
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ASSETS
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Current assets:
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Cash and cash equivalents
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$
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24,473
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$
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22,473
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Short-term investments
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3,404
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7,383
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Accounts receivable, net
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18,253
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15,930
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Costs in excess of related billings on uncompleted contracts
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1,086
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1,262
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Deferred tax assets
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416
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416
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Prepaid expenses
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5,306
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6,887
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Taxes receivable
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107
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108
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Total current assets
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53,045
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54,459
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Property, plant and equipment, net
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6,858
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6,533
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Goodwill
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15,378
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10,984
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Other intangible assets, net
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31,962
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29,645
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Deferred tax assets - long-term
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8,981
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8,858
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Taxes receivable - long-term
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3,003
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2,768
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Other long-term assets
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3,856
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4,858
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Total assets
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$
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123,083
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$
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118,105
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LIABILITIES AND STOCKHOLDERS' EQUITY
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Current liabilities:
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Accounts payable
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$
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2,153
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$
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4,767
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Accrued expenses
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13,938
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18,713
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Deferred revenues
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17,427
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9,930
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Income taxes payable
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36
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--
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Total current liabilities
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33,554
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33,410
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Income tax liabilities
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179
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935
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Deferred tax liabilities
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3,159
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3,156
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Other long-term accruals
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906
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1,397
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Non-controlling interest
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---
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997
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Total liabilities
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37,798
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39,895
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Stockholders' equity:
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Common stock
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27
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24
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Additional paid-in capital
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152,799
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143,754
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Accumulated other comprehensive (loss) income
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79
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(129
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)
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Treasury stock, at cost
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(5,130
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)
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(5,130
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)
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Accumulated deficit
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(62,490
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)
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(60,309
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)
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Total stockholders' equity
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85,285
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78,210
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Total liabilities and stockholders' equity
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$
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123,083
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$
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118,105
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