MOSY » Topics » Gross Profit.

This excerpt taken from the MOSY 10-Q filed Nov 9, 2007.
Gross Profit.  Gross profit increased to $9.5 million in the first nine months of 2007 from $9.0 million in the corresponding period of 2006. Gross profit as a percentage of total revenue decreased to 83% in the nine months of 2007 from 91% in the same period of 2006 due to lower licensing gross profit in 2007. Licensing gross profit as a percentage of total revenue decreased to 61% in the first nine months of 2007 from 88% in the same period of 2006 primarily due to higher cost for fulfilling our obligations under new license agreements, as explained above.  Cost of licensing revenue also included stock-based compensation expense of $317,000 and $127,000 recorded under SFAS 123(R) for the nine months ended September 30, 2007 and 2006, respectively.

This excerpt taken from the MOSY 10-Q filed Aug 8, 2007.
Gross Profit.  Gross profit increased to $6.2 million in the first half of 2007 from $5.1 million in the corresponding period of 2006. Gross profit as a percentage of total revenue decreased to 83% in the six months of 2007 from 87% in the same period of 2006 due to lower licensing gross profit in 2007. Licensing gross profit as a percentage of total revenue decreased to 63% in the first six months of 2007 from 82% in the same period of 2006 primarily due to higher cost for fulfilling our obligations under new license agreements, as explained above.  The cost also included stock-based compensation expense of $222,000 and $104,000 recorded under SFAS 123(R) for the six months ended June 30, 2007 and 2006, respectively.

This excerpt taken from the MOSY 10-Q filed May 4, 2007.
Gross Profit.  Gross profit was $2.6 million in the three months ended March 31, 2007, compared to $3.2 million in the same period of 2006. Gross profit as a percentage of total revenue decreased to 82% in the first quarter of 2007 from 90% in the corresponding period of 2006 due to higher cost for fulfilling our obligations under new license agreements.  The cost also included stock-based compensation expense of $100,000 and $52,000 recorded under SFAS 123(R) for the three months ended March 31, 2007 and 2006, respectively.

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This excerpt taken from the MOSY 10-K filed Mar 13, 2007.
Gross Profit.   Gross profit increased to $13.4 million in 2006 from $10.3 million in 2005 mainly due to an increase in our licensing revenue. Our gross profit as a percentage of total revenue increased to 90% in 2006 from 84% in 2005 primarily due to a higher licensing gross profit, which increased to 84% of total licensing revenue in 2006 from 74% of total licensing revenue in 2005. This increase in licensing gross profit as a percentage of licensing revenue resulted from lower costs for fulfilling our obligations under large high margin contracts and our CLASSIC Memory Macro projects. This cost reduction was partially offset by stock-based compensation expense of $225,000 recorded under SFAS 123(R). There was no stock-based compensation expense related to SFAS 123(R) in 2005. In addition, pre-production prepaid royalties included in licensing revenue contributed to an increased gross profit as a percentage of total revenue because such royalties have no associated cost.

Gross profit increased to $10.3 million in 2005 from $8.6 million in 2004 primarily due to an increase in our licensing revenue. Our gross profit as a percentage of total revenue increased to 84% in 2005 from 79% in 2004 primarily due to a higher licensing gross profit, which increased to 74% of total licensing revenue in 2005 from 65% of total licensing revenue in 2004. This increase occurred because of a lower cost for fulfilling our obligations under new license agreements which required less customization.

Gross profit decreased to $8.6 million in 2004 primarily due to the significant decline in our licensing revenue. Our gross profit as a percentage of total revenue decreased to 79% in 2004 due to the decline in licensing gross profit which fell to 65% of total revenue in 2004. This decline occurred because we incurred higher cost under new license agreements than we had originally estimated or had historically experienced. In addition, we recognized revenue under some lower margin license projects including a few contracts in which our estimated cost exceeded the amount of revenue to be recognized.

This excerpt taken from the MOSY 10-Q filed Nov 7, 2006.
Gross Profit.  Gross profit increased to $9.0 million in the first nine months of 2006 from $8.1 million in the corresponding period of 2005. Gross profit as a percentage of total revenue increased to 91% in the nine months of 2006 from 82% in the same period of 2005 mainly due to higher licensing gross profit. Licensing gross profit as a percentage of licensing revenue increased to 88% in the first nine months of 2006 from 73% in the same period of 2005. This increase in licensing gross profit as a percentage of licensing revenue resulted from lower costs for fulfilling our obligations under large high margin contracts and our CLASSIC Memory Macro projects. This cost reduction was partially offset by stock-based compensation expense of $127,000 recorded under SFAS 123(R). In addition, pre-production prepaid royalties included in licensing revenue contributed to an increased gross profit as a percentage of total revenue.  Royalties, which have no associated cost, represented a lower percentage of total revenue and had a less favorable impact on gross margin in the nine months ended 2006 as compared to the same period in 2005.

This excerpt taken from the MOSY 10-Q filed Aug 8, 2006.
Gross Profit.  Gross profit increased to $5.1 million in the first half of 2006 from $4.7 million in the corresponding period of 2005. Gross profit as a percentage of total revenue increased to 87% in the six months of 2006 from 81% in the same period of 2005 mainly due to higher licensing gross profit offset by lower royalties, which represented a higher percentage of total revenue. Licensing gross profit as a percentage of total revenue increased to 82% in the first six months of 2006 from 66% in the same period of 2005. This increase in licensing gross profit as a percentage of total revenue resulted from lower costs for fulfilling our obligations under large contracts entered in 2005 and our CLASSIC Memory Macro projects.  This cost reduction was partially offset by stock-based compensation expense of $104,000 recorded under SFAS 123(R).

This excerpt taken from the MOSY 10-Q filed May 9, 2006.
Gross Profit.  Gross profit was $3.2 million in the three months ended March 31, 2006 compared to $2.2 million in the same period of 2005. Gross profit as a percentage of total revenue increased to 90% in the first quarter of 2006 from 83% in the corresponding period of 2005 due to lower cost for fulfilling our obligations under new license agreements. These license agreements required less customization. This cost reduction was partially offset by stock-based compensation expense of $52,000 recorded under SFAS 123(R). There was no stock-based compensation expense related to SFAS 123(R) in the same quarter of 2005.

 

This excerpt taken from the MOSY 10-K filed Mar 16, 2006.
Gross Profit.   Gross profit increased to $10.3 million in 2005 from $8.6 million in 2004 primarily due to an increase in our licensing revenue. Our gross profit as a percentage of total revenue increased to 84% in 2005 from 79% in 2004 primarily due to a higher licensing gross profit, which increased to 74% of total revenue in 2005 from 65% of total revenue in 2004. This increase occurred because lower cost for fulfilling our obligations under new license agreements that required less customization.

Gross profit decreased to $8.6 million in 2004 from $16.0 million in 2003 primarily due to the significant decline in our licensing revenue. Our gross profit as a percentage of total revenue decreased to 79% in 2004 from 83% in 2003 primarily due to the decline in licensing gross profit which fell to 65% of total revenue in 2004 from 81% of total revenue in 2003. This decline occurred because we incurred higher cost under new license agreements than we had originally estimated or had historically experienced. In addition, we recognized revenue under some lower margin license projects including a few contracts in which our estimated cost exceeded the amount of revenue to be recognized.

In 2004, product gross margin as a percentage of product revenue decreased to 31% compared to 36% in 2003 mainly due to an inventory write-off of approximately $230,000 in 2004, which was not previously reserved for. In 2003, product gross margin as a percentage of product revenue decreased to 36% compared to 43% in 2002. The decline resulted primarily from lower average selling prices for our memory chips in 2003.

This excerpt taken from the MOSY 10-Q filed Nov 8, 2005.
Gross Profit.  Gross profit increased to $8.1 million in the first nine months of 2005 from $7.9 million in the corresponding period of 2004 and represented 82% of total revenue in both periods. Licensing gross profit declined to 73% in the first nine months of 2005 from 75% in the same period of 2004. The decline in licensing gross profit resulted from the higher costs incurred in fulfilling our obligations under new license agreements than we had originally estimated or had historically experienced.

 

This excerpt taken from the MOSY 10-Q filed Aug 9, 2005.
Gross Profit.  Gross profit decreased to $4.7 million in the first half of 2005 from $6.5 million in the corresponding period of 2004 primarily due to decreased product and licensing revenue. Gross profit as a percentage of total revenue decreased slightly to 81% in the six months of 2005 from 82% in the corresponding period of 2004 mainly due to lower licensing gross profit offset by royalties, which represented a higher percentage of total revenue. Licensing gross profit declined to 66% in the first six months of 2005 from 80% in the same period of 2004. This decline in licensing gross profit resulted from higher cost incurred in fulfilling our obligations under new license agreements than we had originally estimated or had historically experienced in the first quarter of 2005.

 

This excerpt taken from the MOSY 10-Q filed May 10, 2005.
Gross Profit.  Gross profit decreased to $2.2 million in the three months ended March 31, 2005 from $4.0 million in the same period of 2004 due to the decline in licensing revenue. Gross profit as a percentage of total revenue decreased to 83% in the first quarter of 2005 from 88% in the corresponding period of 2004 due to the decline in licensing gross profit, which fell to 62% in the first quarter of 2005 from 87% in the same quarter of 2004.  This decline in licensing gross profit resulted from higher cost incurred in fulfilling our obligations under new license agreements than we had originally estimated or had historically experienced.

 

This excerpt taken from the MOSY 10-K filed Mar 16, 2005.
Gross Profit.   Gross profit decreased to $8.6 million in 2004 from $16.0 million in 2003 primarily due to the significant decline in our licensing revenue. Our gross profit as a percentage of total revenue decreased to 79% in 2004 from 83% in 2003 primarily due to the decline in licensing gross profit which fell to 65% in 2004 from 81% in 2003. This decline occurred because we incurred higher cost in fulfilling our obligations under new license agreements than we had originally estimated or had historically experienced. In addition, we recognized revenue under some lower margin license projects including a few contracts in which our estimated cost exceeded the amount of revenue to be recognized.

Gross profit decreased to $16.0 million in 2003 from $24.4 million in 2002 primarily due to the significant decline in our royalty revenue, which has no associated costs. Primarily for this reason, our gross profit as a percentage of total revenue decreased to 83% in 2003 from 88% in 2002. Licensing gross profit declined to 81% in 2003 from 84% in 2002 primarily because we recognized revenue under some lower margin license projects in 2003.

In 2004, product gross margin as a percentage of product revenue decreased to 31% compared to 36% in 2003 mainly due to an inventory write-off of approximately $ 230,000 in 2004, which was not previously reserved for. In 2003, product gross margin as a percentage of product revenue decreased to 36% compared to 43% in 2002. The decline resulted primarily from lower average selling prices for our memory chips in 2003. In addition, in 2003 our fixed manufacturing overhead costs were spread over a reduced number of our memory chips shipped in 2003 compared to 2002.

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