The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Mike Crawford - B. Riley & Co. - Analyst: Thank you. Couple quick questions. So first, you said you have five licensed customers at 28nms now. What was the number last quarter?
Answer By: Alex Shubat - Virage Logic Corporation - President, CEO, Director
Question: Mike Crawford - B. Riley & Co. - Analyst: Okay. And so what --
Answer By: Alex Shubat - Virage Logic Corporation - President, CEO, Director
Question: Mike Crawford - B. Riley & Co. - Analyst: So we think it's still going to be a few quarters before until we see a 28nm royalty?
Answer By: Alex Shubat - Virage Logic Corporation - President, CEO, Director
Answer By: Dan McCranie - Virage Logic Corporation - Executive Chairman
Question: Mike Crawford - B. Riley & Co. - Analyst: Right. Okay. And you also said that your licensed bookings were, I think you said significantly in excess of revenues. So, I mean, can you say what they were or how that might layer in to licensed revenue recognition?
Answer By: Dan McCranie - Virage Logic Corporation - Executive Chairman
Question: Mike Crawford - B. Riley & Co. - Analyst: Okay. And then after TSMC, is there any way you can kind of group boundaries and relative importance to Virage in terms of royalties you're seeing from products being produced there?
Answer By: Dan McCranie - Virage Logic Corporation - Executive Chairman
Answer By: Alex Shubat - Virage Logic Corporation - President, CEO, Director
Question: Mike Crawford - B. Riley & Co. - Analyst: Okay. Great. And then, Dan, you have been at presentations talking about the vision that Virage has for next year. Can you comment on that at all today on this call?
Answer By: Dan McCranie - Virage Logic Corporation - Executive Chairman
Question: Mike Crawford - B. Riley & Co. - Analyst: Okay, great. And then last question relates to how close you think you might be to landing another NXP-like deal even though it might not have the same kind of magnitude of impact as NXP?
Answer By: Dan McCranie - Virage Logic Corporation - Executive Chairman
Question: Mike Crawford - B. Riley & Co. - Analyst: Okay. Thank you very much.
Question: Philip Zaro - Algorithm Capital - Analyst: Yes, good afternoon. Congratulations on a great quarter
Answer By: Dan McCranie - Virage Logic Corporation - Executive Chairman
Answer By: Brian Sereda - Virage Logic Corporation - VP of Finance, CFO
Question: Philip Zaro - Algorithm Capital - Analyst: Quick question for Brian. Can you briefly review the cash on the balance sheet again? There was a small decline quarter over quarter. And then you mentioned your guidance that that will go back up, I think it was about $3 million.
Answer By: Brian Sereda - Virage Logic Corporation - VP of Finance, CFO
Question: Philip Zaro - Algorithm Capital - Analyst: And do you expect them to go up -- for it to go up how much? ¬2010 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by
Answer By: Brian Sereda - Virage Logic Corporation - VP of Finance, CFO
Question: Philip Zaro - Algorithm Capital - Analyst: Great. Thank you so much.
Question: Neil Gagnon - Gagnon Securities, LLC - Analyst: Gentlemen, good afternoon. I'm interested in where are you seeing the strength currently, and where do you think it will develop over the next year to year and a half?
Answer By: Dan McCranie - Virage Logic Corporation - Executive Chairman
Answer By: Alex Shubat - Virage Logic Corporation - President, CEO, Director
Answer By: Dan McCranie - Virage Logic Corporation - Executive Chairman
Question: Neil Gagnon - Gagnon Securities, LLC - Analyst: Great. Thank you.
Question: Brian Swift - Security Research Associates - Analyst: Yes. Thank you. Very good quarter. I would like to see if you can -- a lot of people like me who have been following it for a long time refer to Old Virage versus New Virage. I'd like to see if you can give us a little bit of color on basically Virage before the ARC and NXP deals. How you would characterize that. Obviously if you can quantify it, fine, but if you want to use your adjectives, fine, but to the extent that you can give us a better feeling as to how those base business from a licensing and royalties standpoint are doing
Answer By: Dan McCranie - Virage Logic Corporation - Executive Chairman
Answer By: Alex Shubat - Virage Logic Corporation - President, CEO, Director
Answer By: Dan McCranie - Virage Logic Corporation - Executive Chairman
Answer By: Dan McCranie - Virage Logic Corporation - Executive Chairman
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