MOSAID numbers exceed expectations

MOSAID Technologies Inc. posts net income of $9.5 million ($.85 cents a diluted share), a 43% spike from $6.7 million ($.58 cents a diluted share) for last year’s Q1. Revenue in the first quarter of 2008 slid to $12.6 million from to $19.1 million. However, revenue in the same period of fiscal 2007 was inflated by a one-time patent licensing payment from PortalPlayer Inc. MOSAID had forecast net profits in the range of $8.1 million to $8.4 million on revenues of $12 million to $12.5 million.

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