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News Article | February 14, 2017
Site: globenewswire.com

SANTA CLARA, Calif., Feb. 14, 2017 (GLOBE NEWSWIRE) -- MoSys, Inc. (NASDAQ:MOSY), a leader in semiconductor solutions that enable fast, intelligent data access for Cloud, network and communications systems, today announced that as of 5:00 p.m. Eastern Time on February 15, 2017, it will effect a 1-for-10 reverse stock split of its outstanding common stock, which will be effective for trading purposes as of the commencement of trading on February 16, 2017. The reverse stock split is intended to increase the per share trading price of the Company’s common stock to satisfy the $1.00 minimum bid price requirement for continued listing on The NASDAQ Capital Market (NASDAQ). Trading of the Company’s common stock on NASDAQ will continue, on a post-split basis, with the opening of the markets on February 16, 2017, under the existing trading symbol “MOSY” and under a new CUSIP number, 619718208.  The reverse stock split will reduce the number of outstanding shares of the Company’s common stock from approximately 66 million shares pre-reverse split to approximately 6.6 million shares post-reverse split. The number of authorized shares of common stock will remain unchanged and the par value per share will be reduced to $0.001. As a result of the reverse stock split, every ten shares of the Company’s pre-reverse split common stock will be combined and reclassified into one share of common stock. Proportionate voting rights and other rights of common stock holders will not be affected by the reverse stock split. No fractional shares will be issued in connection with the reverse stock split; stockholders who would otherwise hold a fractional share of the Company’s common stock will receive cash in an amount equal to the product obtained by multiplying (i) the closing sale price of the common stock on the effective date of the reverse stock split as reported on NASDAQ, by (ii) the number of shares of the common stock held by the stockholder that would otherwise have been exchanged for the fractional share interest. All stock options and restricted stock units outstanding and common stock reserved for issuance under the Company’s equity incentive plans immediately prior to the reverse stock split will be appropriately adjusted by dividing the number of affected shares of common stock by 10 and, as applicable, multiplying the exercise price by 10, as a result of the reverse stock split. The Company’s transfer agent, Wells Fargo Shareowner Services, is acting as exchange agent for the reverse stock split and will send instructions to stockholders of record regarding the exchange of certificates for common stock for uncertificated shares of common stock. Stockholders owning shares via a broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to the brokers' particular processes, and will not be required to take any action in connection with the reverse stock split. Additional information about the reverse stock split can be found in the Company’s Definitive Proxy Statement filed with the Securities and Exchange Commission (SEC) on June 6, 2016, a copy of which is available at www.sec.gov or at the Company’s website at www.mosys.com. Additional information regarding this reverse stock split can be found in the Company’s Form 8-K filed with the SEC on February 14, 2017. About MoSys, Inc. MoSys, Inc. (NASDAQ:MOSY) is a fabless semiconductor company enabling leading equipment manufacturers of Cloud, networking, communications, and data center systems to address the continual increase in Internet users, data and services. The company's solutions deliver data path connectivity, speed and intelligence while eliminating data access bottlenecks on line cards and systems scaling from 100G to multi-terabits per second. Engineered and built for high-reliability carrier and enterprise applications, MoSys' Bandwidth Engine®, Programmable Search Engine, and LineSpeed™ IC product families are based on the company's patented high-performance, high-density intelligent access and high-speed serial interface technology, and utilize the company's highly efficient GigaChip® Interface. MoSys is headquartered in Santa Clara, California. More information is available at www.mosys.com. Bandwidth Engine, GigaChip, and MoSys are registered trademarks of MoSys, Inc. in the US and/or other countries. LineSpeed and the MoSys logo are trademarks of MoSys, Inc. All other marks mentioned herein are the property of their respective owners.


News Article | November 4, 2016
Site: globenewswire.com

SANTA CLARA, Calif., Nov. 04, 2016 (GLOBE NEWSWIRE) -- MoSys, Inc. (NASDAQ:MOSY), a leader in semiconductor solutions that enable fast, intelligent data access for Cloud, network, and communications systems, today reported financial results for the third quarter ended September 30, 2016. “During the quarter, we secured double-digit design wins, including Bandwidth Engine 2 wins for IP security appliance and video applications and multiple LineSpeed wins with new customers for networking, monitoring, and module applications,” commented Len Perham, MoSys’ president and chief executive officer. “We are also beginning to ship initial production quantities of Bandwidth Engine 2 to our lead IP security appliance customer. Furthermore, I am particularly encouraged by the interest in our Programmable Search Engine for applications in the expanding data-center market segment. “Although we shipped production and pre-production quantities of ICs to multiple customers during the quarter, customer production schedules have not yet ramped to volumes originally anticipated by this point in the year. However, I continue to remain confident that a growth trend will become evident over the coming quarters as more of our designs from 2014 and 2015 commence production.” Total net revenue for the third quarter of 2016 was $1.6 million, consistent with the second quarter of 2016 and compared with $1.0 million in the third quarter of 2015. Product revenue in the third quarter of 2016 was $1.2 million, compared with $1.3 million in the previous quarter and $0.6 million in the year-ago period. Royalty and other revenue for the third quarter of 2016 was $0.4 million, compared with $0.3 million in the previous quarter and $0.5 million in the year ago period. Gross margin for the third quarter of 2016 was 58 percent, compared with 41 percent in the previous quarter and 22 percent for the third quarter of 2015. Total operating expenses on a GAAP basis for the third quarter of 2016 were $5.4 million, compared with $6.5 million in the second quarter of 2016 and $10.3 million in the year-ago period. Third quarter 2016 operating expenses included stock-based compensation and amortization of intangible asset expenses of $0.7 million. GAAP net loss for the third quarter of 2016 was $4.7 million, or ($0.07) per share, including stock-based compensation and amortization expenses. This compares with a net loss of $6.0 million, or ($0.09) per share, in the previous quarter and a net loss of $10.1 million, or ($0.15) per share, for the third quarter of 2015. Non-GAAP net loss for the third quarter of 2016 was $4.0 million, or ($0.06) per share, which excludes amortization of intangible assets and stock-based compensation expense. Earnings per share for the third quarter of 2016 was computed using approximately 66.1 million weighted shares on a GAAP and non-GAAP basis. A reconciliation of GAAP results to non-GAAP results is provided in the financial statement tables following the text of this press release. Financial Results Webcast / Conference Call MoSys will host a conference call and webcast with investors today at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) to discuss the third quarter 2016 financial results. Investors and other interested parties may access the call by dialing 1-855-779-0042 in the U.S. (or +1-631-485-4856 outside of the U.S.) and entering the pass code 96101270 at least 10 minutes prior to the start of the call. In addition, an audio webcast will be available through the MoSys Web site at http://www.mosys.com. A telephone replay will be available for two business days following the call at 1-855-859-2056 in the U.S. (or +1-404-537-3406 outside of the U.S.), pass code of 96101270. Use of Non-GAAP Financial Measures To supplement MoSys’ consolidated financial statements presented in accordance with GAAP, MoSys uses non-GAAP financial measures that exclude from the statement of operations the effects of stock-based compensation, amortization of recorded intangible assets and restructuring charges. MoSys’ management believes that the presentation of these non-GAAP financial measures is useful to investors and other interested persons because they are one of the primary indicators that MoSys’ management uses for planning and forecasting future performance. MoSys’ management believes that the presentation of non-GAAP financial measures that exclude these items is useful to investors because management does not consider these charges part of the day-to-day business or reflective of the core operational activities of the Company that are within the control of management or that would be used to evaluate management’s operating performance. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to the comparable GAAP results, which is provided in a table below the Condensed Consolidated Statements of Operations. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to those financial statements should be carefully evaluated. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. For additional information regarding these non-GAAP financial measures, and management’s explanation of why it considers such measures to be useful, refer to the Form 8-K dated November 4, 2016, that the Company filed with the Securities and Exchange Commission. Forward-Looking Statements This press release may contain forward-looking statements about the Company, including, without limitation, anticipated benefits and performance expected from our IC products and the Company’s future markets and future business prospects. Forward-looking statements are based on certain assumptions and expectations of future events that are subject to risks and uncertainties. Actual results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors. These factors include, but are not limited, to the following: other risks identified in the Company’s most recent report on Form 10-K filed with the Securities and Exchange Commission, as well as other reports that MoSys files from time to time with the Securities and Exchange Commission. MoSys undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future. About MoSys, Inc. MoSys, Inc. (NASDAQ:MOSY) is a fabless semiconductor company enabling leading equipment manufacturers of Cloud, networking, communications, and data center systems to address the continual increase in Internet users, data and services. The company's solutions deliver data path connectivity, speed and intelligence while eliminating data access bottlenecks on line cards and systems scaling from 100G to multi-terabits per second. Engineered and built for high-reliability carrier and enterprise applications, MoSys' Bandwidth Engine®, Programmable Search Engine, and LineSpeed™ IC product families are based on the company's patented high-performance, high-density intelligent access and high-speed serial interface technology, and utilize the company's highly efficient GigaChip® Interface. MoSys is headquartered in Santa Clara, California. More information is available at www.mosys.com. Bandwidth Engine, GigaChip, and MoSys are registered trademarks of MoSys, Inc. in the US and/or other countries. LineSpeed and the MoSys logo are trademarks of MoSys, Inc. All other marks mentioned herein are the property of their respective owners.


SANTA CLARA Calif. and SAN JOSE, Calif., Nov. 09, 2016 (GLOBE NEWSWIRE) -- MoSys (NASDAQ:MOSY), a leader in semiconductor solutions that enable fast, intelligent data access for Cloud, network, and communications systems, and Integrated Device Technology, Inc. (IDT®) (NASDAQ:IDTI), today announced interoperability between MoSys’ new LineSpeed™ Flex 28G 2:1 MUX IC (MSH420) and IDT’s 24-Port, 48-Lane, 600 Gbps, 10xN RapidIO® Switch (RXS2448). The IDT® Switch delivers ultra-low latency and high-bandwidth in both wireless and wireline 100G, 400G, and terabit network infrastructure applications, such as mobile edge computing, high-performance computing, and data analytics. The MoSys® LineSpeed Flex 28G MUX and retimer protocol independent devices are compatible with the 10G or 12.5G RapidIO interfaces and enable a reduction in backplane traces or QSFP cable counts for high density RapidIO systems. Combining the MSH420 bit interleaved MUX and the RXS2448 RapidIO switch, users can build high-speed, low-latency RapidIO networks with half the number of backplane or QSFP interconnects.   The combination of rates allows customers to leverage the expanding 100G QSFP interconnect ecosystem. The MoSys MSH420 MUX PHY IC is a flexible SerDes device designed to MUX high-speed protocols into a higher rate output in one direction and DeMUX in the other direction. The device bit interleaves protocol independent rates ranging from 10-14G into a single stream at 2 times the rate.  In a typical application, the device will MUX and DeMUX 8 lower speed lanes to 4 at double the data rate. Using a unique training capability, the device can maintain lane ID from point to point. For RapidIO, each pair of 10G or 12.5G data streams is combined into 20G or 25G, making the device ideal for a broad range of bandwidth consolidation applications, such as increasing backplane density or consolidating 8 12.5G links into 4 25G links to leverage the QSFP28 ecosystem. IDT’s 10xN RXS2448 RapidIO switch offers ultra-low port-to-port latency approaching 100ns and a flexible, non-blocking fabric with switching performance of up to 600 Gbps to deliver an optimized high-speed switching solution. The new switches are backward-compatible with existing RapidIO ecosystems, protecting previous hardware and software investments while accelerating time to market. “Mobile edge and data analytics applications require extremely high-speed, low latency movement of data in order to meet the performance requirements of the complex electronic systems within the mobile network infrastructure,” stated Sean Fan, vice president and general manager, Computing and Communications Division at IDT. “IDT’s latest RXS2448 RapidIO switch and the MoSys’ LineSpeed Flex MUX technology deliver these capabilities with higher density, lower power and a reduced number of cables.” “IDT’s RapidIO switching solutions have a proven track record as a low-latency interconnect in the mobile edge and other expanding applications,” stated John Monson, VP of marketing and sales for MoSys. “The MoSys 28G protocol-agnostic 2:1 MUX allows customers to scale in performance and density at low cost and to risk leverage a proven and expanding 25G and 100G ecosystem for backplane and module interconnect.” About MoSys, Inc. MoSys, Inc. (NASDAQ:MOSY) is a fabless semiconductor company enabling leading equipment manufacturers of Cloud, networking, communications, and data center systems to address the continual increase in Internet users, data and services. The company's solutions deliver data path connectivity, speed and intelligence while eliminating data access bottlenecks on line cards and systems scaling from 100G to multi-terabits per second. Engineered and built for high-reliability carrier and enterprise applications, MoSys' Bandwidth Engine®, Programmable Search Engine, and LineSpeed™ IC product families are based on the company's patented high-performance, high-density intelligent access and high-speed serial interface technology, and utilize the company's highly efficient GigaChip® Interface. MoSys is headquartered in Santa Clara, California. More information is available at www.mosys.com. About IDT Integrated Device Technology, Inc. develops system-level solutions that optimize its customers’ applications. IDT’s market-leading products in RF, timing, wireless power transfer, serial switching, interfaces, automotive ASICs, battery management ICs, sensor signal conditioner ICs and environmental sensors are among the company’s broad array of complete mixed-signal solutions for the communications, computing, consumer, automotive and industrial segments. Headquartered in San Jose, Calif., IDT has design, manufacturing, sales facilities and distribution partners throughout the world. IDT stock is traded on the NASDAQ Global Select Stock Market® under the symbol “IDTI.” Additional information about IDT can be found at www.IDT.com. Follow IDT on Facebook, LinkedIn, Twitter, YouTube and Google+. Bandwidth Engine, GigaChip, and MoSys are registered trademarks of MoSys, Inc. in the US and/or other countries. IC Spotlight, LineSpeed and the MoSys logo are trademarks of MoSys, Inc. All other marks mentioned herein are the property of their respective owners. © 2016, IDT. IDT and the IDT logo are trademarks or registered trademarks of Integrated Device Technology, Inc. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.


News Article | December 7, 2016
Site: www.businesswire.com

FREMONT, Calif.--(BUSINESS WIRE)--The Optical Internetworking Forum announced two new FlexE projects started at the quarterly meeting last month. The OIF is also holding a workshop titled, FlexE Today and Tomorrow, in San Jose on January 20th. “The datacenter and communications industries are demanding a solution for flexible deployment and provisioning of Ethernet bandwidth,” said Scott Irwin of MoSys and the OIF’s Physical and Link Layer (PLL) Working Group protocol vice chair. “Building on its first generation of FlexE, the OIF has started a new project to support the next generation of Ethernet PHY rates currently under development within the IEEE 802.3 Working Group. Because of the large industry interest in FlexE, the OIF is also hosting a workshop on the topic which allows non-members to learn about the work first hand.” The FlexE 1.0 implementation agreement, completed in March of this year, provides a mechanism to map one or more FlexE clients over a group of 100 Gb/s Ethernet PHYs. The client rates supported are 10G, 40G, and n×25G. The new FlexE 2.0 project will add the ability to create FlexE groups of 200 Gb/s and 400 Gb/s Ethernet PHYs and to consider several other feature additions. FlexE 1.0 and ongoing revision enable 802.1 LLDP over management channels for FlexE Connectivity Verification. However, FlexE capabilities discovery is still required to facilitate the setup of FlexE Group(s) and Clients. The new FlexE Neighbor Discovery project will introduce some OIF organizational specific FlexE Extension to LLDP for FlexE capabilities discovery. This workshop will feature subject matter experts from the OIF who will provide a summary of completed and current FlexE projects, along with presentations and discussion on the future direction of FlexE. The workshop will begin with a summary of the FlexE 1.0 Implementation Agreement and will be followed by an overview of the active FlexE 2.0 project. The workshop is open to the public. The OIF facilitates the development and deployment of interoperable networking solutions and services. Members collaborate to drive Implementation Agreements (IAs) and interoperability demonstrations to accelerate and maximize market adoption of advanced internetworking technologies. OIF work applies to optical and electrical interconnects, optical component and network processing technologies, and to network control and operations including software defined networks and network function virtualization. The OIF actively supports and extends the work of national and international standards bodies. Launched in 1998, the OIF is the only industry group uniting representatives from across the spectrum of networking, including many of the world’s leading service providers, system vendors, component manufacturers, software and testing vendors. Information on the OIF can be found at http://www.oiforum.com.


Kleveland B.,MoSys | Miller M.J.,MoSys | David R.B.,MoSys | Patel J.,MoSys | And 7 more authors.
IEEE Micro | Year: 2013

Memory access rate is a primary performance bottleneck in high-performance networking systems. The MoSys Bandwidth Engine family of integrated circuits provides a significant improvement in effective memory performance by using high-speed serial I/O's, many banks of memory, a low-latency, highly efficient protocol, and intelligence within the device. The first member of the family can perform 2 billion 72-bit reads per second or 1 billion read-modify-write operations per second. © 2013 IEEE.

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