EZchip Announces First Quarter 2012 Results


 
                            EZchip Semiconductor Ltd.
 
        Selected Condensed Consolidated Cash Flow Data on a Non-GAAP basis
 
                           (U.S. Dollars in thousands)
 
                                   (Unaudited)
 
                                               Three Months Ended
                                       ------------------------------------
                                       March 31,  December  31,  March 31,
                                         2012         2011        2011
                                       ---------   -----------   ---------
    Cash flows from operating
    activities:
                                                          
    Net income (loss)                    $ 5,132     $(5,953)     $ 1,473
    Adjustments to reconcile net
    income (loss) to net cash
    provided by operating
    activities:
    Repayment of OCS grants*                  --       9,938           --
    Depreciation and amortization            143         163          450
    Decrease in trade and other
    receivables, net                         681       1,113        1,295
    Decrease (increase) in
    inventory                             (1,178)        259       (1,426)
    Decrease in deferred tax asset            --          --        1,403
    Increase (decrease) in trade
    payables and other accrued
    liabilities, net                        (463)      1,213         (385)
    Stock-based compensation               2,582       2,218        2,096
                                         --------    -------       -------
    Net cash provided by operating
    activities                             6,897       8,951        4,906
                                         --------    -------       -------
 
    Cash flows from investing
    activities:
    Purchase of property and
    equipment                              (336)        (97)        (125)
 
    Purchase of technology
                                              --       (500)           --
                                         --------    -------       -------
    Net cash used in investing
    activities                             (336)       (597)        (125)
                                         --------    -------       -------
 
    Cash flows from financing
    activities:
    Proceeds from exercise of
    options
                                          11,415         711        2,473
                                         --------    -------       -------
    Net cash provided by financing
    activities                            11,415         711        2,473
                                            --------        -------              -------
  
        Repayment  of  OCS  grants*                                    --            (9,938)                    --
        Unrealized  gain  (loss)  on
        marketable  securities,  net                              478                      6                    (91)
                                                                                  --------        -------              -------
  
        Increase  (decrease)  in  cash,
        cash  equivalents  and  marketable
        securities                                                        18,454                (867)              7,163
        Cash,  cash  equivalents  and
        marketable  securities  at  the
        beginning  of  the  period                            126,770          127,637            101,310
                                                                                  --------        -------              -------
        Cash,  cash  equivalents  and
        marketable  securities  at  the                                                      
        end  of  the  period                                    $  145,224        $126,770        $  108,473
                                                                                ========        ========            ========
 


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