SUNNYVALE, Calif., Dec 19, 2008 (BUSINESS WIRE) — MoSys, Inc., (NASDAQ: MOSY), a leading provider of high-density
system-on-chip (SoC) memory intellectual property (IP), today announced
that it expects total net revenue to range from $3.8 million to $4.1
million and expects an estimated net loss on a GAAP basis ranging from
$6.9 million to $7.5 million for the three months ending December 31,
2008. Estimated total net revenue for the year ending December 31, 2008
is expected to range from $13.9 million to $14.2 million, and the
estimated net loss on a GAAP basis for that same period is expected to
range from $18.9 million to $19.5 million. These ranges include
estimated restructuring charges of up to $3.3 million to be recorded in
the fourth quarter associated with the Company’s recently announced
initiative to exit from its analog/mixed-signal product lines.
This press release may contain forward-looking statements about the
Company, including, without limitation, benefits and performance
expected from use of the Company’s 1T-SRAM, 1T-FLASH and
analog/mixed-signal technologies, the Company’s execution and results,
improving operational efficiencies, growth of the business, future
business prospects, and the expected restructuring charges and costs and
cost savings, including the timing of such savings, related to the
product line exit plan.
Forward-looking statements are based on certain assumptions and
expectations of future events that are subject to risks and
uncertainties. Actual results and trends may differ materially from
historical results or those projected in any such forward-looking
statements depending on a variety of factors. These factors include, but
are not limited to, risks, uncertainties and assumptions, including the
timing and execution of restructuring plans and programs subject to
local labor law requirements, including consultation with appropriate
works councils; assumptions related to potential severance costs, and
other risks identified in the Company’s most recent reports on forms
10-Q and 10-K filed with the Securities and Exchange Commission, as well
as other reports that MoSys files from time to time with the Securities
and Exchange Commission.
About MoSys, Inc.
Founded in 1991, MoSys (NASDAQ: MOSY), develops, markets and licenses
innovative embedded memory intellectual property (IP) technologies for
advanced SoCs used in a variety of home entertainment, mobile consumer,
networking and storage applications. MoSys’ patented 1T-SRAM and
1T-FLASH technologies offer a combination of high density, low power
consumption, high speed and low cost unmatched by other available memory
technologies. MoSys’ embedded memory IP has been included in more than
160 million devices demonstrating silicon-proven manufacturability in a
wide range of processes and applications. MoSys is headquartered at 755
N. Mathilda Avenue, Sunnyvale, California 94085. More information is
available on MoSys’ website at http://www.mosys.com.
MoSys and 1T-SRAM are registered trademarks of MoSys, Inc.
1T-FLASH(TM) is a trademark of MoSys, Inc
SOURCE: MoSys, Inc.
Jim Sullivan, CFO, 408-731-1800
Beverly Twing, Sr. Acct. Manager, 972-239-5119 ext. 126