MoSys rallies following Q2 report

MoSys (MOSY +5.4%) had $1M in product (chip) revenue in Q2, up from $600K in Q1. Royalty/other revenue totaled $800K, flat Q/Q and down from $1.1M a year ago.

The ongoing shift towards chip sales led gross margin to fall to 42% from 57% in Q1 and 93% a year ago. Opex was $7.9M, down from $8.9M in Q1 and up from $7.4M a year ago.

The company secured "additional design wins" for its Bandwidth Engine networking SRAM chips in Q2, and remains optimistic early design win clients will "initiate their production ramps later this year." R&D work continues for MoSys' 3rd-gen Bandwidth Engine and next-gen 100G Ethernet PHY ICs.

MoSys ended Q2 with $40.1M in cash/investments, down from $45.7M at the end of Q1.

Q2 results, PR

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