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TheStreet Open House

MoSys, Inc. Reports First Quarter 2014 Financial Results

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 first quarter ended March 31, 2014.

First Quarter and Recent Highlights

  • Secured multiple new design wins for Bandwidth Engine® ICs;
  • Increased production shipments of Bandwidth Engine ICs quarter-over-quarter;
  • Achieved carrier-grade qualification of Bandwidth Engine 2 product family;
  • Announced production availability of all three Bandwidth Engine 2 products;
  • Introduced third generation Bandwidth Engine architecture; and
  • Ended the quarter with total cash and investments of $45.7 million.

Management Commentary

“We are pleased to begin 2014 with increasing revenue generated from IC product sales and multiple new design wins for our Bandwidth Engine family of advanced networking memories,” commented Len Perham, MoSys’ president and chief executive officer. “Customer interest and sales activity continues to be strong for our Bandwidth Engine and LineSpeed™ families as we announced new products and successfully demonstrated our technology leadership at several industry shows this quarter.

“We have achieved carrier-grade qualification and announced the production release of all three Bandwidth Engine 2 products. These accomplishments provide additional validation of our technology and further support for our expanding sales efforts with customers. They position us to begin production shipments in the second half of this year.

“In addition, we continued to make progress with the development of our third generation Bandwidth Engine product family and have early engagements with processor partners and prospective Tier 1 networking and communications customers. We are well positioned to greatly increase our total design wins compared with 2013 and further expand the breadth of our product offerings to meet the performance challenges faced by customers in their next-generation networking systems,” concluded Mr. Perham.

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