Virage Logic Reports Second Quarter Fiscal Year 2010 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,

2010   2009 2010   2009
Revenue:
License and maintenance $

19,257

$ 9,126 $

36,180

$ 17,627
Royalties  

5,988

    1,899    

10,723

    4,747  
Total revenues 25,245 11,025 46,903 22,374
Cost and expenses:
Cost of revenues 3,953 2,401 8,472 4,970
Research and development 14,649 6,700 25,891 15,719
Sales and marketing 4,040 2,754 8,721 5,421
General and administrative 4,354 2,645 8,926 4,766
Goodwill impairment

 

-

11,839

-

11,839
Restructuring charges

 

-

    1,473    

-

    1,473  
Total cost and expenses   26,996     27,812     52,010     44,188  
Operating loss (1,751 ) (16,787 ) (5,107 ) (21,814 )
Interest income and other, net   594     114     845     762  
Loss before taxes (1,157 ) (16,673 ) (4,262 ) (21,052 )
Income tax (benefit) provision   (59 )   9,674     (954 )   7,906  
Net loss (1,098 ) (26,347 ) (3,308 ) (28,958 )
Net loss attributable to the non-controlling interests

 

-

   

-

    (29 )  

-

 
Net loss attributable to Virage stockholders $ (1,098 ) $ (26,347 ) $ (3,279 ) $ (28,958 )
 
Net loss per share:
Basic $ (0.04 ) $ (1.15 ) $ (0.13 ) $ (1.26 )
Diluted $ (0.04 ) $ (1.15 ) $ (0.13 ) $ (1.26 )
 
Shares used in computing per share amounts:
Basic   25,731     22,887     25,061     22,915  
Diluted   25,731     22,887     25,061     22,915  

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