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Virage Logic Corporation Condensed Consolidated Balance Sheets (In thousands) (Unaudited) |
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March 31,
2010 |
September 30,
2009 |
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| ASSETS | |||||||||
| Current assets: | |||||||||
| Cash and cash equivalents | $ | 22,540 | $ | 22,473 | |||||
| Short-term investments | 3,397 | 7,383 | |||||||
| Accounts receivable, net | 21,193 | 15,930 | |||||||
| Costs in excess of related billings on uncompleted contracts | 1,169 | 1,262 | |||||||
| Deferred tax assets | 416 | 416 | |||||||
| Prepaid expenses | 5,485 | 6,887 | |||||||
| Taxes receivable | 441 | 108 | |||||||
| Total current assets | 54,641 | 54,459 | |||||||
| Property, plant and equipment, net | 6,746 | 6,533 | |||||||
| Goodwill | 15,546 | 10,984 | |||||||
| Other intangible assets, net | 30,070 | 29,645 | |||||||
| Deferred tax assets – long-term | 9,861 | 8,858 | |||||||
| Taxes receivable - long-term | 3,095 | 2,768 | |||||||
| Other long-term assets | 4,552 | 4,858 | |||||||
| Total assets | $ | 124,511 | $ | 118,105 | |||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||
| Current liabilities: | |||||||||
| Accounts payable | $ | 2,361 | $ | 4,767 | |||||
| Accrued expenses | 13,364 | 18,713 | |||||||
| Deferred revenues | 19,223 | 9,930 | |||||||
| Income taxes payable | 165 | -- | |||||||
| Total current liabilities | 35,113 | 33,410 | |||||||
| Income tax liabilities | 179 | 935 | |||||||
| Deferred tax liabilities | 3,169 | 3,156 | |||||||
| Other long-term accruals | 854 | 1,397 | |||||||
| Total liabilities | 39,315 | 38,898 | |||||||
| Stockholders’ equity: | |||||||||
| Common stock | 27 | 24 | |||||||
| Additional paid-in capital | 154,196 | 143,754 | |||||||
| Accumulated other comprehensive (loss) income | (309 | ) | (129 | ) | |||||
| Treasury stock, at cost | (5,130 | ) | (5,130 | ) | |||||
| Accumulated deficit | (63,588 | ) | (60,309 | ) | |||||
| Total Virage stockholders’ equity | 85,196 | 78,210 | |||||||
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Non-controlling interests in consolidated subsidiaries |
-- | 997 | |||||||
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Total stockholders’ equity |
85,196 | 79,207 | |||||||
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Total liabilities and stockholders’ equity |
$ | 124,511 | $ | 118,105 | |||||
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Virage Logic Reports Second Quarter Fiscal Year 2010 Results
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