Virage Logic Reports Second Quarter Fiscal 2009 Results

Virage Logic Corporation
Condensed Consolidated Statements of Operations
(In thousands, except per-share amounts)
(Unaudited)

 
 

For the Three Months Ended
March 31,

 

For the Six Months Ended
March 31,

2009   2008 2009   2008
Revenue:
License $ 9,126 $ 12,113 $ 17,627 $ 22,874
Royalties   1,899     2,576     4,747     5,875  
Total revenues 11,025 14,689 22,374 28,749
Cost and expenses:
Cost of revenues 2,401 3,121 4,970 5,568
Research and development 6,700 6,175 15,719 12,033
Sales and marketing 2,754 3,864 5,421 7,457
General and administrative 2,645 2,111 4,766 3,886
Goodwill impairment 11,839

-

11,839

-

Restructuring charges   1,473    

-

    1,473     (3 )
Total cost and expenses   27,812     15,271     44,188     28,941  
Operating loss (16,787 ) (582 ) (21,814 ) (192 )
Interest income and other, net   114     767     762     1,934  
Income (loss) before taxes (16,673 ) 185 (21,052 ) 1,742
Income tax (benefit) provision   9,674     (447 )   7,906     18  
 
Net income (loss) $ (26,347 ) $ 632   $ (28,958 ) $ 1,724  
 
Earnings (loss) per share:
Basic $ (1.15 ) $ 0.03   $ (1.26 ) $ 0.07  
Diluted $ (1.15 ) $ 0.03   $ (1.26 ) $ 0.07  
 
Shares used in computing per share amounts:
Basic   22,877     23,494     22,915     23,466  
Diluted   22,877     23,723     22,915     23,730  
 

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