MOSAID Reports Results for Fourth Quarter and Year-End Fiscal 2009 and Dividend

MOSAID assumes no obligation to update or revise any forward-looking statements. Additional information identifying risks and uncertainties affecting MOSAID's business and other factors that could cause MOSAID's financial results to fluctuate are contained in MOSAID's Annual Information Form, under the section entitled "Risk Factors," and in MOSAID's other public filings available online at www.sedar.com.

MOSAID TECHNOLOGIES INCORPORATED
(Subject to the Canada Business Corporations Act)
 CONSOLIDATED PRO FORMA STATEMENTS OF OPERATIONS
(In thousands of Canadian Dollars, except per share amounts)
(Unaudited)


                                   Quarter Ended               Year Ended
                                        April 30,                April 30,
                                2009        2008        2009         2008
-------------------------------------------------------------------------
Revenues                     $18,036     $16,959     $62,538      $55,072

Operating expenses
Patent portfolio management    1,476       1,246       5,048        4,834
Patent licensing
 and litigation                2,801       5,261      21,230       13,643
Research and development         660         603       2,274        2,351
General and administration     1,111         870       4,406        4,293
Foreign exchange loss (gain)     708          91        (369)         606
-------------------------------------------------------------------------
                               6,756       8,071      32,589       25,727
-------------------------------------------------------------------------

Pro forma income
 from operations              11,280       8,888      29,949       29,345
Net interest income              173         562       1,621        2,130
-------------------------------------------------------------------------
Pro forma income
 before income tax            11,453       9,450      31,570       31,475
Income tax expense             3,779       3,362      10,418       11,242
-------------------------------------------------------------------------
Pro forma income (Note 7)     $7,674      $6,088     $21,152      $20,233
-------------------------------------------------------------------------
-------------------------------------------------------------------------

Pro forma earnings per share
 Basic                         $0.75       $0.57       $2.05        $1.85
 Diluted                       $0.75       $0.57       $2.05        $1.83

Weighted average
 number of shares
  Basic                   10,184,323  10,721,721  10,324,043   10,962,648
  Diluted                 10,190,438  10,770,415  10,337,827   11,057,861

See accompanying Notes to the Consolidated Financial Statements



MOSAID TECHNOLOGIES INCORPORATED
CONSOLIDATED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS
(In thousands of Canadian Dollars, except per share amounts)
(Unaudited)

                                   Quarter Ended               Year Ended
                                        April 30,                April 30,
                                2009        2008        2009         2008
-------------------------------------------------------------------------

Revenues                     $18,036     $16,959     $62,538      $55,072

Operating expenses
 Patent portfolio
  management                   1,476       1,246       5,048        4,834
 Patent licensing
  and litigation               2,801       5,261      21,230       13,643
 Research and development        660         603       2,274        2,351
 General and administration    1,111         870       4,406        4,312
 Foreign exchange (gain) loss   (377)        367       6,791       (3,393)
 Stock-based compensation        240         153         790          550
 Patent amortization and
  imputed interest             3,881       3,254      13,881       13,223
-------------------------------------------------------------------------
                               9,792      11,754      54,420       35,520
-------------------------------------------------------------------------

Income from operations         8,244       5,205       8,118       19,552
Net interest income (Note 4)     173         562       1,621        2,130
-------------------------------------------------------------------------
Income before income tax
 expense and discontinued
 operations                    8,417       5,767       9,739       21,682
Income tax expense               2,942              1,854              4,923              10,827
-------------------------------------------------------------------------
Income  before
  discontinued  operations              5,475              3,913              4,816              10,855
Discontinued  operations
  income  (net  of  tax)  (Note  6)        146              1,512              1,029                7,619
-------------------------------------------------------------------------
Net  income                                          5,621              5,425              5,845              18,474
Dividends                                            2,546              2,680            10,320              10,958
Normal  course  issuer  bid                      -                  173              3,215                5,120
Retained  earnings,  beginning
  of  period                                          8,532            16,725            19,297              16,901
-------------------------------------------------------------------------
Retained  earnings,
  end  of  period                              $11,607          $19,297          $11,607            $19,297
-------------------------------------------------------------------------

Earnings  per  share  (Note  5)
  Basic  -  before  discontinued
    operations                                      $0.54              $0.36              $0.47                $0.99
  Diluted  -  before
  discontinued  operations              $0.54              $0.36              $0.47                $0.98

  Basic  -  net  earnings                    $0.55              $0.51              $0.57                $1.69
  Diluted  -  net  earnings                $0.55              $0.50              $0.57                $1.67

Weighted  average  number
  of  shares
    Basic                                      10,184,323    10,721,721    10,324,043      10,962,648
    Diluted                                  10,190,438    10,770,415    10,337,827      11,057,861

See  accompanying  Notes  to  the  Consolidated  Financial  Statements



MOSAID  TECHNOLOGIES  INCORPORATED
CONSOLIDATED  BALANCE  SHEETS
(In  thousands  of  Canadian  Dollars)
(Unaudited)

                                                                                                  As  at                            As  at
                                                                                April  30,  2009          April  30,  2008
-------------------------------------------------------------------------
Current  Assets
  Cash  and  cash  equivalents                                          $32,899                        $22,133
  Marketable  securities                                                    18,888                          36,246
  Accounts  receivable                                                        10,434                          12,304
  Prepaid  expenses                                                                    759                                486
  Other  asset                                                                              446                                    -
  Future  income  taxes  recoverable                                11,519                          11,015
-------------------------------------------------------------------------
                                                                                                74,945                          82,184

Capital  assets                                                                          563                                957
Acquired  intangible  assets                                            79,402                          70,130
Future  income  taxes  recoverable                                  17,549                          16,988
-------------------------------------------------------------------------
                                                                                            $172,459                      $170,259
-------------------------------------------------------------------------
-------------------------------------------------------------------------


Current  Liabilities
  Accounts  payable  and  accrued  liabilities              $6,341                          $7,723
  Income  tax  payable                                                            1,432                                356
  Deferred  revenue                                                                3,432                            1,146
  Other  liability                                                                          -                                318
  Current  portion  of  other
    long-term  liabilities                                                  20,869                            5,345
-------------------------------------------------------------------------
                                                                                                32,074                          14,888
Deferred  gain  on  sale-leaseback                                    1,039                            1,797
Other  long-term  liabilities                                          28,799                          31,195
-------------------------------------------------------------------------

                                                                                                61,912                          47,880

Shareholders'  Equity  (Note  3)
  Share  capital                                                                    94,741                        100,403
  Contributed  surplus                                                          3,753                            2,997
  Retained  earnings                                                            11,607                          19,297
  Accumulated  other  comprehensive  income                        446                              (318)
-------------------------------------------------------------------------
                                                                                              110,547                        122,379
-------------------------------------------------------------------------
                                                                                            $172,459                      $170,259
-------------------------------------------------------------------------
-------------------------------------------------------------------------

See  accompanying  Notes  to  the  Consolidated  Financial  Statements



MOSAID  TECHNOLOGIES  INCORPORATED
CONSOLIDATED  STATEMENTS  OF  CASH  FLOWS
(In  thousands  of  Canadian  Dollars)
(Unaudited)


                                                                      Quarter  Ended                              Year  Ended
                                                                                April  30,                                April  30,
                                                                2009                2008                2009                  2008
-------------------------------------------------------------------------

Operating
Income  before  discontinued
  operations                                      $5,475            $3,913            $4,816            $10,855
    Items  not  affecting  cash
      Amortization  of  capital
        assets  and  acquired
        intangible  assets                    2,916              2,472            10,320                9,653
      Stock-based  compensation            240                  153                  790                    550      Loss  on  disposal  of
        capital  assets                                  -                    95                    76                      95
      Unrealized  foreign  exchange
      (gain)  loss  on  other
        long-term  investments          (1,709)          (3,999)            6,536              (3,999)
      Future  income  tax                      1,560              1,691            (1,065)              6,743
-------------------------------------------------------------------------
                                                              8,482              4,325            21,473              23,897
Change  in  non-cash  working
  capital  items  from
  continuing  operations                (6,364)          (3,083)              (745)            (9,341)
-------------------------------------------------------------------------
                                                              2,118              1,242            20,728              14,556
-------------------------------------------------------------------------

Investing
  Acquisition  of  capital
    assets  and  acquired
    intangible  assets                        1,426              1,036            (9,152)            (1,708)
  Acquisition  of  short-term
    marketable  securities                        -            (2,906)        (60,135)        (119,460)
  Proceeds  on  disposal/maturity
    of  short-term  marketable
    securities                                        (100)                  77              77,493          110,090
-------------------------------------------------------------------------
                                                              1,326            (1,793)              8,206          (11,078)
-------------------------------------------------------------------------

Financing
  Repayment  of  mortgage                          -                      -                        -            (4,346)
  Increase  in  long-term
    liabilities                                (11,176)          (1,632)            (3,633)          (4,081)
  Repurchase  of  shares                            -                (364)            (8,415)        (10,324)
  Dividends                                        (2,546)          (2,680)          (10,320)        (10,958)
  Funding  of  Restricted
    Share  Unit  Plan                              (107)                    -                  (825)                    -
  Issue  of  common  shares                      26                    63                    268              2,702
-------------------------------------------------------------------------
                                                          (13,803)          (4,613)          (22,925)        (27,007)
-------------------------------------------------------------------------

Net  cash  (outflow)  inflow
  from  continuing  operations    (10,359)          (5,164)              6,009          (23,529)
Net  cash  (outflow)  inflow
  from  discontinued  operations      (186)            9,885                4,757            22,266
-------------------------------------------------------------------------
Net  cash  (outflow)  inflow        (10,545)            4,721              10,766            (1,263)
Cash  and  cash  equivalents,
  beginning  of  period                    43,444            17,412              22,133            23,396
-------------------------------------------------------------------------
Cash  and  cash  equivalents,
  end  of  period                              $32,899          $22,133            $32,899          $22,133
-------------------------------------------------------------------------
-------------------------------------------------------------------------

See  accompanying  Notes  to  the  Consolidated  Financial  Statements



MOSAID  TECHNOLOGIES  INCORPORATED
CONSOLIDATED  STATEMENTS  OF  COMPREHENSIVE  INCOME
(In  thousands  of  Canadian  Dollars)
(Unaudited)


                                                                      Quarter  Ended                              Year  Ended
                                                                                April  30,                                April  30,
                                                                2009                2008                2009                  2008
-------------------------------------------------------------------------

Net  income                                        $5,621            $5,425            $5,845            $18,474
-------------------------------------------------------------------------

Other  comprehensive  income,
  net  of  tax:
    Gains  (losses)  on
      derivatives  designated
      as  cash  flow  hedges                    (779)                (54)          (2,602)                  846
    Gains  (losses)  on
      derivatives  designated  as
      cash  flow  hedges  in  prior
      periods  transferred  to
      net  income  in  the
      current  period                            1,683                (302)            3,366              (1,164)
-------------------------------------------------------------------------
Other  comprehensive
  income  (loss)                                      904                (356)                764                  (318)
-------------------------------------------------------------------------

Comprehensive  income                    $6,525            $5,069            $6,609            $18,156
-------------------------------------------------------------------------
-------------------------------------------------------------------------


See  accompanying  Notes  to  the  Consolidated  Financial  Statements



MOSAID  TECHNOLOGIES  INCORPORATED
NOTES  TO  THE  CONSOLIDATED  FINANCIAL  STATEMENTS
Quarter  ended  April  30,  2009  and  2008
(tabular  dollar  amounts  in  thousands  of  Canadian  Dollars,  except  per
share  amounts)

 
1. Basis of Presentation
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