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Mosaid announces Q4, year-end results

Posted: 28 Jun 2006 ?? ?Print Version ?Bookmark and Share

Keywords:financial result? fiscal year? Mosaid? contents addressable memory?

Mosaid Technologies Inc., a manufacturer of ternary contents addressable memory for network applications, announced financial results for the fourth quarter and fiscal year ended April 30, 2006. Revenues for the fourth quarter of fiscal year 2006 were $16,872,000, compared to $16,542,000 in the fourth quarter of fiscal year 2005. Net income for the quarter was $3,135,000 or 27 cents per diluted share.

According to Mosaid, net income in the current quarter was affected by increased R&D expense, mainly related to the acquisition of Virtual Silicon Technology Inc., and higher sales and marketing expenses, driven by higher legal costs in the Infineon Technologies litigations.

Revenues for fiscal 2006 were $63,899,000, up 28 percent from revenues of $49,743,000 in fiscal 2005. Income from operations in fiscal 2006 was $22,245,000, up 59 percent from $13,946,000 for fiscal 2005. Net income for fiscal 2006 was $15,483,000 or $1.34 per diluted share.

Guidance for the company's revenues in Q1 of fiscal 2007 is $22 million to $23 million, and for net earnings is $6 million to $6.5 million. Revenues for fiscal 2007 are forecast to range between $83 million and $88 million, with net earnings between $21 million and $23 million. The company anticipates that approximately 80 percent of fiscal 2007 revenues will be generated by its intellectual property division.

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