|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the SRSL 10-Q filed May 8, 2009. These excerpts taken from the SRSL 10-K filed Feb 24, 2009. Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Our exposure to market risk includes changes in interest rates, which relates primarily to our invested balances of cash, cash equivalents and investments. Our investment policy specifies excess funds are to be invested in a manner that preserves capital, provides liquidity and generates the highest available after-tax return. To limit exposure to market risk, we place our cash in banks, cash equivalents in certificates of deposits with original maturities of three months or less and money market funds, which are primarily invested in US government obligations. Short-term investments consist of certificates of deposits with original maturities ranging from 6 to 12 months. We do not invest in any derivative instruments. All cash, cash equivalents and investments are carried at fair value, which approximates cost.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
Our exposure to market risk includes changes in interest rates, which
This excerpt taken from the SRSL 10-Q filed Nov 5, 2008. This excerpt taken from the SRSL 10-Q filed Aug 7, 2008. This excerpt taken from the SRSL 10-Q filed May 8, 2008. These excerpts taken from the SRSL 10-K filed Mar 13, 2008.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk Our exposure to market risk includes changes in interest rates, which relates primarily to our invested balances of cash, cash equivalents and investments. Our investment policy specifies excess funds are to be invested in a manner that preserves capital, provides liquidity and generates the highest available after-tax return. To limit exposure to market risk, we place our cash in banks, cash equivalents in high quality, short-term commercial paper and money market funds and investments consisting of U.S. government securities and U.S government-backed securities. We do not invest in any derivative instruments. All cash, cash equivalents and investments are carried at fair value, which approximates cost. Our exposure to market risk includes changes in interest rates, which relates primarily to our invested balances of cash, cash equivalents and investments. Our This excerpt taken from the SRSL 10-Q filed Nov 6, 2007. This excerpt taken from the SRSL 10-Q filed Aug 6, 2007. This excerpt taken from the SRSL 10-Q filed May 3, 2007. This excerpt taken from the SRSL 10-Q filed Nov 7, 2006. This excerpt taken from the SRSL 10-Q filed Aug 8, 2006. This excerpt taken from the SRSL 10-Q filed May 11, 2006. This excerpt taken from the SRSL 10-Q filed Nov 10, 2005. This excerpt taken from the SRSL 10-Q filed Aug 11, 2005. This excerpt taken from the SRSL 10-Q filed May 18, 2005. This excerpt taken from the SRSL 10-Q filed May 18, 2005. This excerpt taken from the SRSL 10-K filed May 18, 2005. Item 7A. Quantitative
and Qualitative Disclosures About Market Risk
We are exposed to a variety of risks, including foreign currency fluctuations and changes in interest rates affecting investment earnings.
42
Foreign Currency
International sales represent a significant portion of our total revenues. To date, all of our licensing revenues have been denominated in U.S. dollars and most costs have been incurred in U.S. dollars. We have subsidiary operations in Hong Kong and customers in the PRC, and, accordingly, we are exposed to transaction gains and losses that could result from changes in foreign currency exchange rates. We use the local currency (Hong Kong dollars) as the functional currency for our Valence subsidiaries. The Hong Kong dollar has remained relatively constant due to the U.S. dollar peg and currency board system that has been in effect in Hong Kong since 1983. To date, most of our semiconductor revenue and expenses incurred have been denominated in Hong Kong dollars. Translation adjustments resulting from the process of translating foreign currency financial statements into U.S. dollars were not significant in fiscal 2004, 2003, and 2002. Cash balances maintained by Valence in excess of normal operating requirements are invested in U.S. denominated bank accounts further reducing balance sheet exposure to changes in foreign currency exchange rates. Under the current circumstances, we believe that the foreign currency market risk is not material, however, we can give no assurance that the Hong Kong economy will not worsen or that the historical currency peg of the Hong Kong dollar to the U.S. dollar will be maintained. We actively monitor our foreign exchange exposure and, should circumstances change, intend to implement strategies to reduce our risk at such time that it determines that the benefits of such strategies outweigh the associated costs. There can be no assurance that management’s efforts to reduce foreign exchange exposure will be successful.
Interest Rates
Our exposure to market risk includes changes in interest rates, which relates primarily to our invested balances of cash, cash equivalents and investments. Our investment policy specifies excess funds are to be invested in a manner that preserves capital, provides liquidity and generates the highest available after-tax return. To limit exposure to market risk, we place our cash in banks, cash equivalents in high quality, short-term commercial paper and money market funds and investments consisting of U.S. government securities and U.S government-backed securities. We do not invest in any derivative instruments. All cash, cash equivalents and investments are carried at fair value, which approximates cost.
This excerpt taken from the SRSL 10-Q filed May 18, 2005. This excerpt taken from the SRSL 10-Q filed May 16, 2005. | EXCERPTS ON THIS PAGE:RELATED TOPICS for SRSL:
|
| |||||||
