The State of Electronics IP in a Volatile Economy

For the last 12 months

Despite falling revenue in each of the last two quarters, MIPS still scored annual revenues of $82.028 million for FY 2011 vs. $70.956 million for the prior fiscal year, a 15.62% growth in revenue. Profits for the same 12 months were also up, with $17.787 million net income in FY 2011 vs. $12.842 million the previous year.

Nevertheless, MIPS shares which had closed at $6.10 on August 4 just prior to the Q2 2011 afternoon financial results presentation, opened at $4.52 the next morning, an overnight loss of $1.58 per share, or minus 26% in value.

Combined with the week’s falling markets due to the intransigence of the majority party in the US House of Representatives in raising the US debt ceiling, MIPS shares went from closing at $7.18 on Friday July 29 to closing at $4.12 on Friday August 5, a loss of $3.06 per share or 43% of per share value, over half of which loss was arguably due to the poor Q2 2011 results announced Thursday afternoon August 4.

MIPS Technologies, Inc. self description

MIPS Technologies, Inc. (NASDAQ: MIPS) is a leading provider of industry-standard processor architectures and cores for digital home, networking and mobile applications. The MIPS architecture powers some of the world's most popular products, including broadband devices from Linksys, DTVs and digital consumer devices from Sony, DVD recordable devices from Pioneer, digital set-top boxes from Motorola, network routers from Cisco, 32-bit microcontrollers from Microchip Technology and laser printers from Hewlett-Packard. Founded in 1998, MIPS Technologies is headquartered in Sunnyvale, California, with offices worldwide. For more information, contact (408) 530-5000 or visit

MIPS Technologies, Inc. rings the NASDAQ Opening Bell October 28, 2010

On July 22, 2011 MoSys, Inc. (NASDAQ: MOSY) reported financial results for the second quarter ended June 30, 2011.

Second Quarter 2011 Highlights

  • Reported total revenue of $3.3 million;
  • Ended the quarter with total cash and investments of approximately $31.3 million;
  • Completed full verification of first Bandwidth Engine® integrated circuit (IC); and
  • Announced the appointment of Thomas Riordan as Chief Operating Officer.

Management Commentary

“During the second quarter, we continued to make progress toward the full production release of our Bandwidth Engine family of ICs,” said Len Perham, MoSys’ President and Chief Executive Officer. “As part of these efforts, we completed the full chip verification process and continued sampling and evaluation activity with various network equipment suppliers. Also, during the quarter, we took steps to expand our sales and marketing channels by adding applications-rich sales representation firms in the eastern U.S. and in China to further support adoption of our Bandwidth Engine IC in these markets. Our efforts over the past six months have kept us on track for the completion of one of our most important goals; that is, securing design wins with our key customers and partners by year-end 2011.”

Len Perham

Perham continued, “In addition to our progress merchandising the Bandwidth Engine IC family, we had a solid first half of the year in our IP business, highlighted by securing five new customers and significantly increasing our SerDes licensing activity over the first half of 2010. We remain optimistic that we can achieve our bookings targets in the second half of the year, supported by a strong pipeline of new and follow-on projects, particularly for our 28 nanometer multi-protocol SerDes IP.”

“Lastly, we have strengthened our operational capabilities with the recent addition of Tom Riordan as Chief Operating Officer. Tom has a wealth of operational and leadership experience in the semiconductor industry and will be responsible for engineering, product development and operations. We are pleased to have him join our management team and look forward to his contributions,” concluded Perham.

Tom Riordan

Prior to joining MoSys, Mr. Riordan was president and CEO of Exclara, a fabless semiconductor supplier of ICs for solid-state lighting, from 2006 until 2010. From 2000 to 2004, Mr. Riordan served as Vice President of PMC-Sierra’s microprocessor division. Mr. Riordan joined PMC-Sierra in August 2000 when it purchased Quantum Effects Devices (QED), which he had co-founded and served as President and CEO. Prior to QED, Mr. Riordan served in various design and managerial roles at MIPS Computer Systems. Mr. Riordan holds BSEE and MSEE degrees and a BA in Government from the University of Central Florida.

Adding operational management strength to the bevy of excellent corporate partners (see the list in the news section), combined with the relatively recent influx of additional capital, are all signs that MoSys is getting ready for a major business push; we wish the company the best, especially if the economy continues on its current downward trend ignited by the behavior of the US Congress.

Second Quarter Mosys Financial Results

Total net revenue for the second quarter of 2011 was $3.292 million, down 6.98% compared sequentially with $3.539 million reported in the first quarter of 2011 and down 22.88% compared with $4.269 million in the year-over-year second quarter of 2010.

Second quarter 2011 total revenue included licensing revenue of $1.2 million, compared with $1.3 million for the previous quarter and $2.0 million for the second quarter of 2010. Second quarter 2011 royalty revenue was $2.1 million, compared with $2.2 million in the previous quarter and $2.3 million for the second quarter of 2010.

Gross margin for the second quarter of 2011 was 86%, compared with 81% in the first quarter of 2011 and 87% for the second quarter of 2010.

Total operating expenses on a GAAP basis for the second quarter of 2011 were $8.5 million, compared with $8.9 million in the previous quarter and $9.2 million for the second quarter of 2010. (Second quarter 2011 operating expenses included $0.7 million of amortization of intangible assets and $0.8 million of stock-based compensation expense).

GAAP net loss for the second quarter of 2011 was $5.682 million, or ($0.15) per share, compared with a net loss of $6.029 million, or ($0.16) per share, in the previous quarter and a net loss of $5.427 million, or ($0.17) per share, for the second quarter of 2010.

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