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MoSys, Inc. Reports Fourth Quarter And Full Year 2013 Financial Results

Stocks in this article: MOSY

MoSys (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, 2013.

Full Year 2013 and Recent Highlights

  • Secured multiple new design wins for the Bandwidth Engine® IC product families, representing both new customers and new platforms;
  • Commenced early production shipments of Bandwidth Engine ICs, with increased unit shipments both sequentially and year over year;
  • Secured first design engagements for new family of LineSpeed™ 100G PHY solutions;
  • Introduced third generation Bandwidth Engine architecture optimized to enhance the performance of multi-core packet processing engines; and
  • Ended the year with total cash and investments of $50.5 million.

Management Commentary

“We continued to make good progress throughout 2013 on our operational execution, design win momentum and sales activity,” said Len Perham, MoSys’ president and chief executive officer. “We increased our design wins three-fold in 2013 compared with 2012, including both Bandwidth Engine ICs and LineSpeed 100G PHY solutions. These new design wins represent an expanded customer base, as well as extended use of Bandwidth Engine ICs within existing customers. As our first design wins advance toward production release, IC unit shipments began to accelerate in the fourth quarter of 2013, and this acceleration in shipped volumes will likely continue period to period through 2014.

“In 2013, we announced sample availability of the three members of the Bandwidth Engine 2 family, the Burst, Access and Macro products, which enables us to provide a broad range of purpose-built solutions to meet our customers’ application needs. In addition, we introduced the first two members of our LineSpeed family of integrated CMOS PHY ICs. The LineSpeed 100G Multi-Mode Gearbox and Quad Full Duplex Retimer have proven their functionality with industry standards and interoperability with the 100G optical module and networking equipment ecosystem. The Bandwidth Engine and LineSpeed products enable critical density, performance and features for line cards in next generation networking and communications equipment. We also just announced our third generation Bandwidth Engine architecture, which represents a new co-processing paradigm with the ability to advance memory access performance well beyond current levels. This innovative architecture is capable of throughput up to 800+ Gbps, provides intelligent offload to relieve the packet processing engine of access-intensive operations and represents a powerful solution for the memory access bottleneck.

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