SUNNYVALE, Calif.--(BUSINESS WIRE)--Aug. 28, 2007--MoSys, Inc. (MoSys) (NASDAQ: MOSY), the industry's leading provider of high density SoC embedded memory solutions, announced today that its board of directors authorized the Company to purchase up to $19.5 million of its common stock over the next twelve months. The share repurchases may be made from time to time in the open market subject to market conditions and other factors, including self-imposed black-out periods during which the Company and its insiders are prohibited from trading in the Company's common stock. While blackout periods typically occur towards the end of a fiscal quarter in anticipation of the public release of quarterly earnings, the Company may impose a blackout period at any time without advance public notice. These repurchases may be commenced or suspended at any time or from time to time without prior notice.
As of June 30, 2007, the Company had approximately 32 million shares outstanding and also had cash, cash equivalents and short and long term investments of approximately $88 million.
This press release may contain forward-looking statements about the Company including, without limitation, benefits and performance expected from use of the Company's 1T-SRAM and 1T-FLASH, and Mixed Signal technologies.
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, customer acceptance of our 1T-SRAM, 1T-FLASH or Mixed Signal technologies, the timing and nature of the license agreements being signed with our customers and their requests for our services under existing license agreements, the timing of customer acceptance of our work under such agreements, the level of commercial success of licensees' products, ease of manufacturing and yields of devices incorporating our 1T-SRAM, our ability to enhance the 1T-SRAM technology or develop new technologies, the level of intellectual property protection provided by our patents, the expenses and other consequences of litigation, including intellectual property infringement litigation, to which we may be or may become a party from time to time, the vigor and growth of markets served by our licensees and customers and operations of the Company and other risks identified in the Company's most recent annual 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.
Founded in 1991, MoSys (Nasdaq: MOSY) develops, licenses and markets industry-leading embedded memory IP for semiconductors. MoSys' patented 1T-SRAM(R) and 1T-FLASH(TM) technologies offer a combination of high density, low power consumption, high speed and low cost that is unmatched by other memory technologies. MoSys licensees have shipped more than 110 million chips incorporating 1T-SRAM, demonstrating excellent manufacturability in a wide range of silicon processes and applications. MoSys is headquartered at 755 N. Mathilda Avenue, Sunnyvale, California 94085. More information is available at http://www.mosys.com. 1T-SRAM is a registered trademark and 1T-FLASH is a trademark of MoSys, Inc.
Jim Pekarsky, +1-408-731-1846
Shelton Investor Relations
Beverly Twing, +1-972-239-5119, ext. 126
Senior Account Manager
SOURCE: MoSys, Inc.