Mindspeed Reports Fiscal Second Quarter 2010 Results

We do not provide forward-looking GAAP measures or a reconciliation of the forward-looking non-GAAP measures to GAAP measures because of our inability to project special charges, asset impairments, employee separation costs and stock-based compensation and related payroll costs.

The non-GAAP financial measures we provide have certain limitations because they do not reflect all of the costs associated with the operation of our business as determined in accordance with GAAP. The non-GAAP measures are in addition to, and not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. We endeavor to compensate for the limitations of these non-GAAP measures by providing GAAP financial statements, descriptions of the reconciling items and a reconciliation of the non-GAAP measures to the most directly comparable GAAP measures so that investors can appropriately incorporate the non-GAAP measures and their limitations into their analyses. For complete information on stock-based compensation and related payroll costs, amortization of intangible assets, asset impairments, our reverse stock split, our employee option exchange program, employee separation costs, special charges, gain on extinguishment of debt and non-cash interest expense on our convertible senior notes, please see our financial statements and “Management’s Discussion and Analysis of Results of Operations and Financial Condition” that will be included in the periodic report we expect to file with the SEC with respect to the financial periods discussed herein.

Consolidated Condensed Balance Sheets

(unaudited, in thousands)

  April 2,   October 2,
2010 2009
(As Adjusted)(*)
Current Assets
Cash $ 31,348 $ 20,891
Receivables, net 14,971 7,662
Inventories 7,485 10,902
Deferred tax assets - current 1,402 1,574
Prepaid expenses and other current assets   2,792   2,529
Total current assets 57,998 43,558
Property, plant and equipment, net 11,717 11,018
License agreements 6,993 6,505
Other assets   1,228   1,382
Total assets $ 77,936 $ 62,463
Current Liabilities
Accounts payable $ 6,681 $ 6,338
Accrued compensation and benefits 6,146 5,788
Accrued income taxes 348 525
Deferred income on sales to distributors 4,730 2,604
Deferred revenue 784 1,106
Restructuring 479 448
Convertible senior notes – short term 10,349
Other current liabilities   2,746   2,177
Total current liabilities 21,914 29,335
Convertible senior notes – long term 13,611 13,415
Other liabilities   1,372   823
Total liabilities 36,897 43,573
Stockholders' equity   41,039   18,890
Total liabilities and stockholders' equity $ 77,936 $ 62,463

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9  Next Page »

Review Article Be the first to review this article
CST: Webinar

Aldec Simulator Evaluate Now

Featured Video
ASIC Design Engineer for Infinera Corp at Sunnyvale, CA
RF IC Design Engineering Manager for Intel at Santa Clara, CA
Design Verification Engineer for Cirrus Logic, Inc. at Austin, TX
Design Verification Engineer for intersil at Morrisville, NC
DSP Tools Engineer for Cirrus Logic, Inc. at Austin, TX
Senior DSP Firmware Engineer for Cirrus Logic, Inc. at Austin, TX
Upcoming Events
Essentials of Electronic Technology: A Crash Course at Columbia MD - Jan 16 - 18, 2018
Essentials of Digital Technology at MD - Feb 13 - 14, 2018
IPC APEX EXPO 2018 at San Diego Convention Center San Diego CA - Feb 24 - 1, 2018
CST: Webinar series

Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise