SUNNYVALE, Calif.–(BUSINESS WIRE)–Jan. 22, 2004–MoSys, Inc.
(NASDAQ:MOSY) today announced it is reducing its revenue outlook for
the fourth quarter of fiscal year 2003 ranging between $3.0 to $3.5
million, from the previously provided estimate of $5.5 to $6.0 million
for the quarter. The shortfall occurred due to delays in the
recognition of revenue from new customer projects that commenced later
in the quarter than the company previously had anticipated based upon
such customers’ earlier projections.

“We had a strong close to the quarter with total new orders
generated in the quarter exceeding $5 million in licensing fees.
However, the delay in the commencement of these contracts and the
timing of development services does impact our revenue recognition. We
were only able to recognize a small percentage of the new orders
during the fourth quarter, and expect to recognize substantially all
of the associated revenue in 2004,” commented Dr. Fu-Chieh Hsu,
President and Chief Executive Officer of MoSys. “We are disappointed
in the reduction of our revenue estimate for the quarter. We are
confident, however, that the strength of our contract pipeline and the
increased market acceptance of our technology will translate into
future revenue growth for the Company.”

MoSys will release its fourth quarter and fiscal year 2003 results
for the period ending December 31, 2003 on Wednesday, January 28,
after the market closes. Following the release, the Company will host
a live audio Web cast and conference call at 5:15 p.m. Eastern Time.

Dr. Hsu and Chief Financial Officer Mark Voll will discuss the
company’s earnings and operations on the call. Investors and other
interested parties may listen to the live Web cast by visiting the
investor relations section of the MoSys website at A
Web cast replay will also be available on the company’s Website.


Founded in 1991, MoSys (NASDAQ: MOSY), develops, licenses and
markets innovative memory technologies for semiconductors. MoSys’
patented 1T-SRAM technologies offer a combination of high density, low
power consumption, high speed and low cost unmatched by other
available memory technologies. The single transistor bit cell used in
1T-SRAM memory results in the technology achieving much higher density
than traditional four or six transistor SRAMs while using the same
standard logic manufacturing processes. 1T-SRAM technologies also
offer the familiar, refresh-free interface and high performance for
random address access cycles associated with traditional SRAMs. In
addition, these technologies can reduce operating power consumption by
a factor of four compared with traditional SRAM technology,
contributing to making them ideal for embedding large memories in
System on Chip (SoC) designs. MoSys’ licensees have shipped more than
65 million chips incorporating 1T-SRAM embedded memory technologies,
demonstrating excellent manufacturability in a wide range of silicon
processes and applications. MoSys is headquartered at 1020 Stewart
Drive, Sunnyvale, California 94085. More information is available on
MoSys’ website at


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 technologies.

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, customer acceptance of our 1T-SRAM
technologies, the timing and nature of customer request for services
under existing license agreements, the timing of customer acceptance
of our work under such agreements, the level of commercial success of
licensees’ products such as the Nintendo GAMECUBE and cell phone hand
sets, ease of integration of our 1T-SRAM technologies with other
semiconductor functions, ease of manufacturing and yields of devices
incorporating our 1T-SRAM technologies, our ability to enhance our
1T-SRAM technologies or develop new technologies, the level of
intellectual property protection provided by our patents, the vigor
and growth of markets served by our licensees and customers, the
impact of the Company’s recent acquisition of ATMOS Corporation on
future operating results and operations of the Company and other risks
identified in the Company’s most recent annual report on Form 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. MoSys undertakes no obligation to update publicly
any forward-looking statement for any reason, except as required by
law, even as new information becomes available or other events occur
in the future.

1T-SRAM(R) is a MoSys trademark registered in the U.S. Patent and
Trademark Office. All other trade, product, or service names
referenced in this release may be trademarks or registered trademarks
of their respective holders.

CONTACT: MoSys Inc., Sunnyvale
Mark Voll, 408-731-1846
Shelton IR
Beverly Twing, 972-239-5119 Ext. 126

SOURCE: MoSys, Inc.