|
Quotes & Info
|
| MOSY > SEC Filings for MOSY > Form 8-K on 10-Dec-2008 | All Recent SEC Filings |
10-Dec-2008
Costs Associated with Exit or Disposal Activities, Financial Statements and Exhibits
On December 4, 2008, the board of directors of MoSys, Inc., or the Company, authorized management, as and when appropriate in management's discretion, to completely exit the Company's analog/mixed-signal product lines, including by disposition of the subsidiaries based in Romania and China, which the Company purchased in 2007, or by closure of these operations. The Company anticipates that it will initiate this plan this month and implement it fully by the end of the first quarter of 2009. In connection with the plan, the Company expects to incur total restructuring charges of up to $3.3 million. These charges will include up to $1.5 million for severance benefits, lease obligations and other related expenses, which will represent cash expenditures to be paid in 2009. In addition, the plan will result in a material non-cash charge for impairment to intangible assets recorded when the Company acquired these two subsidiaries and related assets. The Company expects the total impairment charge to range from zero to $1.8 million, depending upon amounts realized, if any, upon exit.
The Company expects to record the majority of these restructuring charges in the quarter ending December 31, 2008.
(c) Exhibits.
Exhibit No. Description
99.1 Press Release by MoSys, Inc. dated December 10, 2008.
|
|