| MOSYS, INC. | ||||||||||||||||
| Reconciliation of GAAP to Non-GAAP Net Loss and Net Loss Per Share | ||||||||||||||||
| (In thousands, except per share amounts; unaudited) | ||||||||||||||||
| Three Months Ended | Twelve Months Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2009 |
2008 (1) |
2009 |
2008 (1) |
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| GAAP net loss | $ | (4,892 | ) | $ | (6,412 | ) | $ | (19,104 | ) | $ | (18,585 | ) | ||||
| Stock-based compensation expense | ||||||||||||||||
| -Cost of net revenue | 94 | 65 | 250 | 405 | ||||||||||||
| -Research and development | 320 | 261 | 1,153 | 1,235 | ||||||||||||
| -Selling, general and administrative | 532 | 779 | 1,651 | 3,103 | ||||||||||||
| Total stock-based compensation expense | 946 | 1,105 | 3,054 | 4,743 | ||||||||||||
| Restructuring charges (2) | - | 1,334 | 706 | 1,334 | ||||||||||||
| Impairment of intangible assets | - | 1,379 | - | 1,379 | ||||||||||||
| Amortization of intangible assets (3) | 643 | 151 | 1,463 | 742 | ||||||||||||
| Acquisition-related contingent compensation charges (4) | 488 | - | 1,110 | - | ||||||||||||
| Acquisition-related transaction costs (5) | - | - | 300 | - | ||||||||||||
| Non-GAAP net loss | $ | (2,815 | ) | $ | (2,443 | ) | $ | (12,471 | ) | $ | (10,387 | ) | ||||
| GAAP net loss per share | ($0.16 | ) | ($0.20 | ) | ($0.61 | ) | ($0.59 | ) | ||||||||
| Reconciling items | ||||||||||||||||
| -Stock-based compensation expense | 0.03 | 0.03 | 0.10 | 0.16 | ||||||||||||
| -Restructuring charges (2) | - | 0.04 | 0.02 | 0.04 | ||||||||||||
| -Impairment of intangible assets | - | 0.04 | - | 0.04 | ||||||||||||
| -Amortization of intangible assets (3) | 0.02 | 0.01 | 0.05 | 0.02 | ||||||||||||
| -Acquisition-related contingent compensation charges (4) | 0.02 | - | 0.03 | - | ||||||||||||
| -Acquisition-related transaction costs (5) | - | - | 0.01 | - | ||||||||||||
| Non-GAAP net loss per share: Basic and diluted | ($0.09 | ) | ($0.08 | ) | ($0.40 | ) | ($0.33 | ) | ||||||||
| Shares used in computing non-GAAP net loss per share | ||||||||||||||||
| Basic and diluted | 31,219 | 31,623 | 31,238 | 31,698 | ||||||||||||
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(1) Financial statements have been revised to reflect immaterial increases in stock-based compensation resulting from calculation errors in the third-party stock administration software used by the Company. |
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| (2) Charges related to the exit of the analog/mixed-signal product lines and closure of the Korea office. | ||||||||||||||||
| (3) Non-cash charges for amortization of intangibles arising from acquired assets. These charges are included in research and development expenses. | ||||||||||||||||
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(4) Contingent earn-out compensation charges arising from the acquisition of Prism Circuits, Inc. |
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| (5) Charges primarily related to legal and accounting fees incurred from the acquisition of Prism Circuits, Inc. | ||||||||||||||||
| These charges are included in selling, general and administrative expenses. | ||||||||||||||||
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MoSys, Inc. Reports Fourth Quarter and Full Year 2009 Financial Results
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