Monolithic System Technology, Inc. Reports Q1 2002 Net Income up 293% over Q1 Last Year

4/18/2002 - Monolithic System Technology, Inc., (MoSys,) (NASDAQ: MOSY) today reported financial results for its first quarter ended March 31, 2002. Net revenue in the quarter of $6.4 million was an increase of 40% over the first quarter of last year and consisted of licensing revenue of $1.9 million, royalty revenue of $3.6 million and product revenue of approximately $893,000. Licensing revenue of $1.9 million in the quarter represented a 263% increase over the $519,000 recorded in the first quarter of 2001. Royalty revenue in the first quarter was $3.6 million compared to $133,000 in the first quarter of 2001. Product revenue in the quarter was $893,000 and declined from $3.9 million in the first quarter of 2001, due to the continuing weakness in the markets of our communications equipment OEM customers.

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