Virage Logic Reports Fourth Quarter and Fiscal Year 2009 Results

Virage Logic Corporation

Condensed Consolidated Statements of Operations

(In thousands, except per-share amounts)

(Unaudited)

   
For the Three Months Ended

September 30,

For the Twelve Months

Ended

September 30,

2009   2008 2009   2008
Revenue:
License $ 10,931 $ 12,139 $ 39,295 $ 47,261
Royalties   2,217     3,374     8,148     12,069  
Total revenues 13,148 15,513 47,443 59,330
Cost and expenses:
Cost of revenues 2,334 2,924 9,833 11,106
Research and development 7,721 7,677 29,967 27,725
Sales and marketing

4,820

3,634

12,815

14,749
General and administrative 3,980 2,336 10,836 8,382
Goodwill impairment -- -- 11,839 --
Restructuring charges   4     --     1,499     316  
Total cost and expenses  

18,859

    16,571    

76,789

    62,278  
Operating loss

(5,711

) (1,058 )

(29,346

) (2,948 )
Interest and other income (expense), net   (16 )   755     674     3,395  
Income (loss) before taxes

(5,727

) (303 )

(28,672

) 447
Minority interest in loss of consolidated subsidiaries 47 -- 47 --
Income tax provision (benefit)  

(2,436

)   (256 )  

5,499

    (107 )
 
Net income (loss) $

(3,244

) $ (47 ) $

(34,124

) $ 554  
 
Earnings (loss) per share:
Basic $ (0.14 ) $ 0.00   $ (1.48 ) $ 0.02  
Diluted $ (0.14 ) $ 0.00   $ (1.48 ) $ 0.02  
 
Shares used in computing per share amounts:
Basic   23,106     23,217     22,979     23,423  
Diluted   23,106     23,217     22,979     23,673  
 

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