EDA WEEKLY: The EDA and the Electronics IP Almanac: Q3 2010 – Schedule B


Mr. Perham concluded, "We continue to leverage our highly differentiated memory and high-speed interface IP to drive near- and long-term growth, while advancing the development of our Bandwidth Engine IC business. We are also focused on managing costs as we expand our business model to include fabless IC product offerings and bring an ever growing family of Bandwidth engine products to market."

Third Quarter Results

Total net revenue for the third quarter of 2010 was $3.8 million, compared with $4.3 million reported in the second quarter of 2010 and $3.4 million in the third quarter of 2009.

Third quarter 2010 total revenue included licensing revenue of $1.5 million, compared with $2.0 million for the previous quarter and $1.3 million for the third quarter of 2009. Third quarter 2010 royalty revenue was $2.3 million, compared with $2.3 million in the previous quarter and $2.0 million for the third quarter of 2009.

Gross margin for the third quarter of 2010 was 81%, compared with 87% for the second quarter of 2010 and 80% for the third quarter of 2009. The sequential decrease in gross margin was primarily related to additional customization costs incurred on certain licensing projects.

Total operating expenses on a GAAP basis for the third quarter of 2010 were $9.2 million, which total was consistent with the previous quarter and compared with $7.8 million for the third quarter of 2009. Third quarter 2010 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 third quarter of 2010 was $6.198 million, or ($0.19) per share, compared with a net loss of $5.427 million, or ($0.17) per share, for the previous quarter and a net loss of $4.956 million, or ($0.16) per share, for the third quarter of 2009.

Cash and investments totaled $22.3 million as of September 30, 2010, compared with $31.2 million as of June 30, 2010. The decrease in cash and investments includes payment in the third quarter of a $6.5 million earn-out related to the Prism acquisition.

MoSys, Inc. self description

MoSys, Inc. (NASDAQ: MOSY) is a leading provider of serial chip-to-chip communications solutions that deliver unparalleled bandwidth performance for next generation networking systems and advanced system-on-chip (SoC) designs. MoSys' Bandwidth Engine(TM) family of ICs combines the company's patented 1T-SRAM ® high-density memory technology with its high-speed 10 Gigabits per second (Gbps) SerDes interface (I/O) technology. A key element of Bandwidth Engine technology is the GigaChip(TM) Interface, an open, CEI-11 compatible interface developed to enable highly efficient serial chip-to-chip communications. MoSys' IP portfolio includes SerDes IP and DDR3 PHYs that support data rates from 1 - 11 Gbps across a variety of standards. In addition, MoSys offers its flagship, patented 1T-SRAM and 1T-Flash ® memory cores, which provide a combination of high-density, low power consumption, high-speed and low cost advantages for high-performance networking, computing, storage and consumer/graphics applications. MoSys IP is production-proven and has shipped in more than 325 million devices. MoSys is headquartered in Santa Clara, California. More information is available on MoSys' website at http://www.mosys.com.

MoSys, 1T-SRAM and 1T-Flash are registered trademarks of MoSys, Inc. The MoSys logo, Bandwidth Engine and GigaChip are trademarks of MoSys, Inc. All other marks mentioned herein are the intellectual property of their respective owners.



Chart courtesy Yahoo Finance



Mosys News Item

On Tuesday December 7, 2010 the Associated Press (AP) said that MoSys Inc. planned to raise nearly $20 million through the direct sale of nearly five million shares of its common stock.

The company said "a small number of investors" had agreed to buy nearly 4.5 million shares at $4 each. That marked a 9% discount to the stock's December 6th closing price of $4.38.

In addition, CEO Leonard Perham was planning to purchase 275,000 shares and a company director, Carl Berg, was planning to buy 230,000 shares, both at the market price of $4.38.

MoSys said the deals would generate net proceeds of $19.9 million after deducting the costs of the offering. The funding will be used for general corporate purposes, the company said.

The offering was expected to close Friday December 10, 2010.

MoSys shares rose 42 cents, or 9.6%, to close at $4.80 on December 7th, on volume more than twice normal daily trade.

End of AP December 7, 2010 story.

Note: MOSY closed January 7, 2011 at $5.81 per share.




On October 21, 2010 Rambus Inc. (NASDAQ:RMBS) reported financial results for the third quarter of 2010.

Revenue for the third quarter of 2010 was $31.743 million, down 18% sequentially from the second quarter of 2010 primarily due to lower patent royalty revenue. As compared to the revenue of $27.874 million third quarter of 2009, Q3 2010 revenue was up 13.88% primarily due to the revenue recognized from the agreements signed with Samsung during the first quarter of 2010.

Revenue for the nine months ended September 30, 2010 was $232.5 million, up 183% over the same period of last year which was also due to the agreements signed with Samsung during the first quarter of 2010.





Revenue for the quarter was down sequentially as anticipated patent license renewals did not complete by quarter end; however, those negotiations are active and proceeding well,” said Harold Hughes, president and chief executive officer at Rambus. “During the quarter, we did sign a patent license agreement with Nvidia for certain memory controller patents on a going forward basis and expect to receive the first payment in November.”

Total operating costs and expenses for the third quarter of 2010 were $43.2 million, which included a $10.3 million gain related to the Samsung settlement, $7.5 million of stock-based compensation expenses and $1.2 million for previous stock-based compensation restatement and related legal expenses. This is compared to total operating costs and expenses for the second quarter of 2010 of $45.5 million, which included a $10.3 million gain related to the Samsung settlement, $7.9 million of stock-based compensation expenses and $1.6 million for previous stock-based compensation restatement and related legal expenses. General litigation expenses for the third quarter were $4.6 million, a decrease of $0.6 million from the second quarter of 2010.

Total operating costs and expenses in the third quarter of last year were $48.5 million, which included $7.7 million of stock-based compensation expenses and $0.1 million for previous stock-based compensation restatement and related legal expenses. General litigation expenses in the third quarter of 2010 decreased $7.3 million from the third quarter of 2009.

Total operating costs and expenses for the nine months ended September 30, 2010 were $48.5 million, which included a $116.5 million gain related to the Samsung settlement, $23.2 million of stock-based compensation expenses and $3.4 million for previous stock-based compensation restatement and related legal expenses. This is compared to total operating costs and expenses of $141.4 million for the same period of 2009, which included $24.0 million of stock-based compensation expenses and a net recovery of $14.0 million of previous stock-based compensation restatement and related legal expenses. General litigation expenses for the nine months ended September 30, 2010 were $16.9 million, a decrease of $28.1 million from the same period in 2009.

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