Electronics IP Industry – Q2 2012

 

8/15/12 CLOSING STOCK PRICE: $6.58

    08/15/12 MKT CAP  $ 365.3 million

08/15/12  STOCK PRICE RANGE: $6.546 - $6.73

   52 WEEK RANGE: $3.93 - $7.34

 

 

 

On July 20, 2012 MoSys, Inc. reported financial results for the second quarter ended June 30, 2012.

MoSys is an IP-rich fabless semiconductor company that provides high performance solutions for fast, intelligent data access in network and communications systems. Engineered and built for high-reliability carrier and enterprise applications, MoSys products are breaking bandwidth barriers in data processing to allow for faster packet access and analysis, enabling higher speed, expanded user capacity, and new capabilities required by the expanding global infrastructure.

The number of users, amount of data and new services are expanding rapidly, spurring the demand for increased packet processing on aggregate data rates in excess of 100 Gigabits per second (Gbps) in networking and communication equipment. Applications such as video-on-demand, Internet protocol TV, peer-to-peer and Cloud Computing, Web 2.0 applications, as well as 3G and 4G are bandwidth intensive. Service providers need new technologies to manage user experience, quality of service, and network security. This means routers, switches, and telecom equipment need to support both data rates in the 100s of Gbps and increased data processing requirements. In order to meet these requirements, bandwidth bottlenecks between data processing elements and memory must be solved.

The Bandwidth Engine IC, with its combination of serial I/O, high-speed memory, and efficient, intelligent access, drastically increases memory accesses per second, removing these bottlenecks.

Second Quarter Highlights

  • Released first generation carrier-grade Bandwidth Engine® IC to production;
  • Shipped first Bandwidth Engine IC production units;
  • Expanded sales channel coverage in North America; and
  • Ended the quarter with total cash and investments of approximately $49 million.

Management Commentary

Commenting on the quarter , Len Perham, MoSys' President and Chief Executive Officer, said: "In the quarter, we released our first generation Bandwidth Engine IC into production and made initial production shipments for customer prototyping and system-level qualifications. The commencement of production shipments represents another major achievement in our evolution to become a fabless semiconductor company.”

 


Len Perham

 
“We also completed multiple, onsite operational audits that fully affirmed our ISO 9000 compliance and carrier-grade rating, further assuring customers that we have the capabilities to meet or exceed their quality standards and support their future volume production requirements. “

"We continue to collaborate closely with new and existing customers to integrate our high-speed, serial access Bandwidth Engine IC into their next-generation systems. Over the last few months, we expanded our sales and support channel, with a strong focus on accelerating customer adoption and increasing design win momentum."

Second Quarter Results

Total net revenue for the second quarter of 2012 was $1.74 million, up 22.54% compared with $1.42 million reported in the sequential first quarter of 2012, and down 47.11% compared to $3.29 million in the year over year second quarter of 2011.

Second quarter 2012 total revenue included licensing and other revenue of $0.6 million, compared with $0.2 million for the previous quarter and $1.2 million for the second quarter of 2011. Second quarter 2012 royalty revenue was $1.1 million, compared with $1.2 million in the previous quarter and $2.1 million for the second quarter of 2011.

GAAP net loss for the second quarter of 2012 was $6.55 million, or ($0.17) per share, compared with a net loss of $7.15 million, or ($0.19) per share, in the previous quarter and a net loss of $5.65 million, or ($0.15) per share, for the second quarter of 2011. As of June 30, 2012, cash and investments totaled $48.9 million.


About MoSys, Inc.

MoSys, Inc. (NASDAQ: MOSY) is an IP-rich fabless semiconductor company that provides high performance solutions for fast, intelligent data access in network and communications systems. Engineered and built for high-reliability carrier and enterprise applications, MoSys' products are breaking bandwidth barriers™ in data processing to allow for faster packet access and analysis, expanded user capacity and new capabilities required by the expanding global infrastructure. MoSys' Bandwidth Engine ® family of ICs combines the company's patented 1T-SRAM ® high-density, embedded memory and high-speed, 10 Gigabits per second serial interface with its intelligent access technology and a highly efficient GigaChip™ Interface transport protocol to eliminate bottlenecks in high-speed data access. MoSys is headquartered in Santa Clara, California, and more information is available at http://www.mosys.com.

MoSys, 1T-SRAM and Bandwidth Engine are registered trademarks of MoSys, Inc. in the US and/or other countries. Breaking Bandwidth Barriers, GigaChip and the MoSys logo are trademarks of MoSys, Inc. All other marks mentioned herein are the property of their respective owners.

 

 

MoSys, Inc.

Bar Graph Source: Google Finance

 

 

 

 

Q2 2012 REV                  $1.74 million

Q2 2012 NET loss                $6.55   million

Q2 2012 LPS                       $ 0.17

 

08/10/12 CLOSING STOCK PRICE: $3.26

     08/10/12 MKT CAP  $ 126.75 million

08/10/12  STOCK PRICE RANGE: $2.85 - $3.33

     52 WEEK RANGE:   $2.76 - $4.75

 

 

 

On July 18, 2012 Rambus Inc. (NASDAQ:RMBS) reported financial results for the second quarter ended June 30, 2012.

Founded in 1990, Rambus is one of the world's premier technology licensing companies. As a company of inventors, Rambus focuses on the development of technologies that enrich the end-user experience of electronic systems. Its breakthrough innovations and solutions help industry-leading companies bring superior products to market. Rambus licenses both its world-class patent portfolio, as well as its family of leadership and industry-standard solutions. Rambus has offices in California, North Carolina, Ohio, India, Germany, Japan, Korea, and Taiwan.

Second Quarter Fiscal 2012 Business and Financial Highlights

  • Quarterly revenue of $56.22 million
  • Quarterly GAAP diluted loss per share of $0.29
  • Signed solutions license agreement with Cooper Lighting for the use of Rambus' patented lighting innovations

GAAP Financial Results:

Revenue for the second quarter of 2012 was $56.22 million, down 10.56% sequentially from the $62.86 million in the first quarter of 2012. This quarter-over-quarter decline was primarily due to recognition of one-time royalty revenue during the first quarter of 2012 from a licensing agreement with MediaTek and lower royalties reported by certain other licensees in the semiconductor industry. This decline was partially offset by the first quarterly royalty payment from Broadcom during the second quarter of 2012.

As compared to the second quarter of 2011, revenue was down 15.09% to $66.21 million primarily due to the decrease in contract revenue, lower royalties reported by certain licensees and expiration of a patent license agreement. The decreased revenue for the second quarter of 2012 as compared to the prior year period was partially offset by revenue recognized from various new patent license agreements signed in the second half of 2011 as well as revenue from certain patent license agreements resulting from the acquisition of Cryptography Research Inc. (CRI).

Revenue for the six months ended June 30, 2012 was $119.1 million, down 8% over the same period of last year, for the same reasons as discussed above.

Total operating costs and expenses for the second quarter of 2012 were $78.0 million, which included general litigation expenses of $4.5 million, $6.2 million of stock-based compensation expenses and $13.4 million of acquisition-related deal costs, retention bonuses and amortization expenses for business acquisitions. This is compared to total operating costs and expenses for the first quarter of 2012 of $80.4 million, which included general litigation expenses of $4.1 million, $6.7 million of stock-based compensation expenses and $14.9 million of acquisition-related deal costs, retention bonuses and amortization expenses for business acquisitions. Total operating costs and expenses for the second quarter of 2011 were $68.7 million, which included general litigation expenses of $11.5 million, $7.0 million of stock-based compensation expenses and $8.4 million related to acquisition-related deal costs, retention bonuses and amortization expenses.

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