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Tue, Jul. 21, 5:35 PM| Tue, Jul. 21, 5:35 PM | 5 Comments
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Nov. 5, 2014, 3:41 PM
- MoSys (NASDAQ:MOSY) CEO Len Perham: "The third quarter saw a slowdown in sales activity, consistent with what has been reported by various other suppliers to the telecommunications and networking markets. Although customer engagements continued for us, it was slow going, and we did not close as many design wins as we expected."
- Perham adds MoSys' design activity has rebounded recently, and that its Q4 performance is expected to be "considerably more robust." His firm is "cautiously optimistic" that it can "get close to doubling design wins year over year."
- Product revenue totaled $400K in Q3, down from $1M in Q2 and up from $100K a year ago. Royalty/other revenue fell to $700K from $800K in Q2 and $900K a year ago.
- GAAP opex rose 18% Y/Y to $9.2M. MoSys ended Q3 with $33.7M in cash/investments, down from $40.1M at the end of Q2.
- Did someone know something in advance? Shares fell hard ahead of earnings.
- Q3 results, PR
Nov. 4, 2014, 4:17 PM
Nov. 3, 2014, 5:35 PM
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Jul. 22, 2014, 2:28 PM
- 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
Jul. 22, 2014, 7:33 AM
Jul. 21, 2014, 5:30 PM
May 2, 2014, 5:37 PM
- With a mix shift towards IC sales (relative to royalties/licensing) leading gross margin to fall to 57% from Q4's 78% and the year-ago period's 99%, MoSys (MOSY -4.3%) missed Q1 EPS estimates even though revenue was roughly in-line.
- On the CC (transcript), CEO Leonard Perham noted low initial volumes for MoSys' Bandwidth Engine networking SRAM chips is limiting margins for now. But he expressed confidence "the Bandwidth Engine family is going to be a 60%-plus gross margin product."
- CFO James Sullivan suggested first the first-gen Bandwidth Engine (BE1) could have trouble seeing a 50%+ GM, but thinks the second-gen product (BE2) will have a much better margin profile.
- Perham asserts MoSys "should record substantially more design wins in 2014 than 2013." At the same time, he cautions "the critical inflection point where revenue ends up is still illusive, most difficult to forecast."
- Opex rose 49% Y/Y to $8.9M (compares with revenue of $1.3M). MoSys ended Q1 with $45.7M in cash/investments, down from $50.5M at the end of Q4.
- Q1 results, PR
May 2, 2014, 7:35 AM
May 1, 2014, 5:30 PM
Feb. 7, 2014, 7:50 AM
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