EZchip Announces Record Second Quarter Revenues of $8 Million and Significant Growth in non-GAAP Profitability

* In calculating diluted non-GAAP net income per share, the diluted weighted average number of shares outstanding excludes the effects of stock-based compensation charges under SFAS 123R.

                              EZchip Semiconductor Ltd.
                         Condensed Consolidated Balance Sheet
                             (U.S. Dollars in thousands)

                                                 June 30,        December 31,
                                                    2008                2007
                                             (Unaudited)           (Audited)

    ASSETS
    CURRENT ASSETS:
    Cash, cash equivalents and
    marketable securities                       $ 44,113            $ 42,628
    Trade receivables, net                         5,101               2,877
    Other receivables                                802               1,180
    Inventories                                    2,787               3,109
    Total current assets                          52,803              49,794

    LONG-TERM INVESTMENTS:
    Prepaid development and production
    costs, net                                       101                 148
    Severance pay fund                             3,374               2,640
    Total long-term investments                    3,475               2,788
    PROPERTY AND EQUIPMENT, NET                      311                 394

    Goodwill                                      96,276              49,533
    Intangible assets, net                         7,924               2,736

    TOTAL ASSETS                               $ 160,789           $ 105,245

    LIABILITIES AND SHAREHOLDERS' EQUITY
    CURRENT LIABILITIES:
    Trade payables                                 $ 744               $ 254
    Other payables and accrued expenses            4,200               3,524
    Total current liabilities                      4,944               3,778

    LONG TERM LIABILITIES:
    Accrued severance pay                          4,234               3,272

    EMPLOYEE STOCK OPTIONS IN EZCHIP
    TECHNOLOGIES                                   2,472               2,141
    PREFERRED SHARES IN EZCHIP TECHNOLOGIES           --              23,770

    SHAREHOLDERS' EQUITY:
    Share capital                                    134                 106
    Additional paid-in capital                   245,843             162,233
    Accumulated other comprehensive loss           (365)                (11)
    Accumulated deficit                         (96,473)            (90,044)
    Total shareholders' equity                   149,139              72,284

    TOTAL LIABILITIES AND SHAREHOLDERS'
    EQUITY                                     $ 160,789           $  105,245


        Contact:
        Ehud  Helft
        CCGK  Investor  Relations
        info@gkir.com
        Tel:  (US)  +1-646-797-2868  /  +1-646-201-9246

 


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