MoSys, Inc. Reports Fourth Quarter and Fiscal 2006 Financial Results


ABOUT MOSYS, INC.

Founded in 1991, MoSys (NASDAQ: MOSY), develops, licenses and markets innovative memory technologies for semiconductors. MoSys' patented 1T-SRAM technologies offer a combination of high density, low power consumption, high speed and low cost unmatched by other available memory technologies. The single transistor bit cell used in 1T-SRAM memory results in the technology achieving much higher density than traditional four or six transistor SRAMs while using the same standard logic manufacturing processes. 1T-SRAM technologies also offer the familiar, refresh-free interface and high performance for random address access cycles associated with traditional SRAMs. In addition, these technologies can reduce operating power consumption by a factor of four compared with traditional SRAM technology, contributing to making them ideal for embedding large memories in System on Chip (SoC) designs. MoSys' licensees have shipped more than 100 million chips incorporating 1T-SRAM embedded memory technologies, demonstrating excellent manufacturability in a wide range of silicon processes and applications. MoSys is headquartered at 755 N. Mathilda Avenue, Sunnyvale, California 94085. More information is available on MoSys' website at www.mosys.com
                             MOSYS, INC.
           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
               (In thousands, except per share amounts)


                           Three Months Ended      Twelve Months Ended
                              December 31,             December 31,
                            2006        2005          2006     2005
                         ----------- -----------     -------- --------
                         (unaudited) (unaudited)
Net Revenue:
 Product                         $-          $-           $-      $10
 Licensing                    1,794       1,339        9,096    7,725
 Royalty                      3,215       1,063        5,813    4,547
                         ----------- -----------     -------- --------
  Total net revenue           5,009       2,402       14,909   12,282

Cost of Net Revenue:
 Licensing                      592         243        1,498    1,986
                         ----------- -----------     -------- --------
  Total cost of net
   revenue                      592         243        1,498    1,986

Gross Profit                  4,417       2,159       13,411   10,296

Operating Expenses:
 Research and
  development                 2,057       1,557        8,156    5,839
 Selling, general and
  administrative              2,585       2,519       11,370    9,922
 Restructuring expenses           -           5            -      119
 Litigation settlement            -           -        2,400        -
                         ----------- -----------     -------- --------
  Total operating
   expenses                   4,642       4,081       21,926   15,880

 Loss from operations          (225)     (1,922)      (8,515)  (5,584)

 Other income/expenses          865         794        3,286    2,591

  Income (loss) before
   income taxes                 640      (1,128)      (5,229)  (2,993)

 Income tax benefit
  (provision)                   (73)         44         (109)      11
                         ----------- -----------     -------- --------

Net income (loss)              $567     $(1,084)     $(5,338) $(2,982)
                         =========== ===========     ======== ========

Net income (loss) per
 share
   Basic                      $0.02      ($0.04)      ($0.17)  ($0.10)
   Diluted                    $0.02      ($0.04)      ($0.17)  ($0.10)

Shares used in computing
 net income (loss) per
 share
   Basic                     31,492      30,698       31,298   30,534
   Diluted                   32,862      30,698       31,298   30,534

                             MOSYS, INC.
 Reconciliation of GAAP to Non-GAAP Net Income (Loss) and Net Income
                                            (Loss)  Per  Share
                              (In  thousands,  except  per  share  amounts)
                                                          (unaudited)

                                                                          Three  Months          Twelve  Months
                                                                                  Ended                          Ended
                                                                          December  31,            December  31,
                                                                        2006          2005          2006          2005
                                                                      --------  --------  --------  --------

  GAAP  net  income  (loss)                              $567    $(1,084)  $(5,338)  $(2,982)

  Non-GAAP  adjustments:
    Stock  compensation  expense
          -  Cost  of  revenue                                    98                -            225                -
          -  Research  and  development                252                -            993                -
              Selling,  general  and
          -    administrative                                  466                7        1,528              36
                                                                      --------  --------  --------  --------
              Total  stock  compensation
                expense                                                816                7        2,746              36

  Non-GAAP  net  income  (loss)                  $1,383    $(1,077)  $(2,592)  $(2,946)
                                                                      ========  ========  ========  ========

  GAAP  net  income  (loss)  per  share:
    Basic  and  Diluted                                    $0.02      $(0.04)    $(0.17)    $(0.10)
    Reconciling  item:
          -  Stock  compensation  expense        $0.02        $0.00        $0.09        $0.00

                                                                      --------  --------  --------  --------
  Non-GAAP  net  income  (loss)  per
    share:  Basic  and  Diluted                      $0.04      $(0.04)    $(0.08)    $(0.10)
                                                                      ========  ========  ========  ========

  Shares  used  in  computing  non-GAAP
    net  income  (loss)  per  share
        Basic                                                      31,492      30,698      31,298      30,534
        Diluted                                                  32,862      30,698      31,298      30,534
 





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