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MoSys, Inc. Reports Fourth Quarter 2012 Financial Results

MoSys, Inc., (NASDAQ:MOSY), a leader in semiconductor solutions that enable fast, intelligent data access for network and communications systems, today reported financial results for the fourth quarter and fiscal year ended December 31, 2012.

2012 and Recent Highlights

  • Secured initial OEM design wins for the Bandwidth Engine® IC product family at multiple customers;
  • Passed 3000 hours of high temperature operating life (HTOL) testing of the Bandwidth Engine IC with no failures; thus, exceeding carrier-grade QA&R requirements;
  • Made significant progress toward new design wins with prospective customers in Japan, China and the U.S.;
  • Established worldwide sales representation and distribution channels;
  • Taped out second generation Bandwidth Engine IC;
  • Announced support of GigaChip™ Interface by Renesas Electronics Corporation; and
  • Ended the year with total cash and investments of approximately $41 million.

Management Commentary

“In 2012, MoSys made continued progress toward becoming a fabless semiconductor company. Specifically, we advanced the development of our Bandwidth Engine IC family, including passing 3000 hours of HTOL testing with no failures, securing multiple design wins and taping out our second generation device family,” commented Len Perham, MoSys’ President and Chief Executive Officer. “Our second generation Bandwidth Engine family will embody substantial performance improvements, a significantly expanded feature set and much faster I/O speeds, resulting in an expanded range of applications that can be served when compared with our first generation family. We are excited to have this new IC family in wafer fabrication and look forward to receiving first silicon for testing and characterization.”

Mr. Perham continued, “Activity in our sales funnel increased substantially during the year, and we have made significant progress towards declaring our first tier one design win. This brisk pace of sales activity for new design wins across all geographic regions has created a solid foundation of customer and partnership interest in Bandwidth Engine. Furthermore, our close collaboration with our initial design win partners has assisted these lead OEMs to advance toward achieving full system qualification and initial production releases, which we believe are scheduled for completion in the second half of 2013.

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