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UNITED STATES SECURITIES AND
    EXCHANGE COMMISSION
 Washington, D.C.
    20549
 Form 10-K
 (Mark One)þ

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended
    December 31, 2007.oro

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934For the transition period
    from          to          .   Commission File Number
    000-50770
  
 Leadis Technology,
    Inc.
 (Exact name of registrant as
    specified in its charter)
  Delaware(State or other jurisdiction
    of 
    incorporation or organization)

77-0547089(IRS Employer
    Identification No.)800 W. California Avenue, Ste 200
    Sunnyvale, CA(Address of principal
    executive offices)

94086(Zip
    Code)  (408) 331-8600
 (Registrants telephone
    number, including area code)
  Securities registered pursuant to Section 12(b) of the
    Act:
  Title of each class

Name of each exchange on which registeredCommon Stock, $0.001 par value

The NASDAQ Stock Market LLC   Securities registered pursuant to Section 12(g) of the
    Act:
 None
  o þ
  o þ
  þ o
  Regulation S-K Form 10-K Form 10-K. þ
    Large accelerated filer
    o

Accelerated filer
    þ

Non-accelerated
    filer o
    (Do not check if a smaller reporting company)

Smaller reporting
    Company o   Rule 12b-2 o þ
      DOCUMENTS
    INCORPORATED BY REFERENCE
  Form 10-K.




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##### 





LEADIS
    TECHNOLOGY, INC.
  Form 10-K
    For the Fiscal Year Ended December 31, 2007
    TABLE OF CONTENTS
   
 PagePART IItem 1


Business


1Item 1A


Risk Factors


8Item 1B


Unresolved Staff Comments


22Item 2


Properties


22Item 3


Legal Proceedings


22Item 4


Submission of Matters to a Vote of Security
    Holders


23PART IIItem 5


Market for Registrants Common Equity,
    Related Stockholder Matters and Issuer Purchases of Equity
    Securities


23Item 6


Selected Financial Data


25Item 7


Managements Discussion and Analysis of
    Financial Condition and Results of Operations


26Item 7A


Quantitative and Qualitative Disclosures about
    Market Risk


41Item 8


Financial Statements and Supplementary Data


43Item 9


Changes in and Disagreements with Accountants on
    Accounting and Financial Disclosure


74Item 9A


Controls and Procedures


74Item 9B


Other Information


75PART IIIItem 10


Directors and Executive Officers of the
    Registrant


75Item 11


Executive Compensation


75Item 12


Security Ownership of Certain Beneficial Owners
    and Management and Related Stockholder Matters


75Item 13


Certain Relationships and Related Transactions


75Item 14


Principal Accountant Fees and Services


75PART IVItem 15


Exhibits


76Signatures


78EXHIBIT 21.1EXHIBIT 23.1EXHIBIT 31.1EXHIBIT 31.2EXHIBIT 32.1EXHIBIT 32.2




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PART I  FORWARD-LOOKING
    STATEMENTS
  This Annual Report on
    Form 10-K,
    and particularly the sections entitled Business,
    Risk Factors, and Managements Discussion
    and Analysis of Financial Condition and Results of
    Operations, contains forward-looking statements within the
    meaning of Section 27A of the Securities Act of 1933 and
    Section 21E of the Securities Exchange Act of 1934, which
    are subject to the safe harbor created by those
    sections. These statements relate to future events or our future
    financial performance and involve known and unknown risks,
    uncertainties and other factors that may cause our financial
    performance or achievements to differ materially from these
    forward-looking statements. Forward-looking statements can often
    be identified by terminology such as may,
    will, could, should,
    expect, believe, anticipate,
    estimate, continue, plan,
    intend, potential, project
    or other similar words. Except as required by law, we undertake
    no obligation to update or publicly revise any forward-looking
    statements to reflect events or circumstances after the date of
    this document.
  ITEM 1.
    BUSINESS  Overview
      www.leadis.com. Form 10-K, Form 10-Q, Form 8-K www.leadis.com
 1




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Industry
    Overview
          Display
    Driver Product Solutions
  system-on-a-chip,
 2




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tm tm
  tm tm
    TFT technology
  tm
  STN technology 
  OLED technology 
  LED
    Driver & Power Management Product Solutions
   3




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tm
  tm
    Consumer
    Audio Product Solutions
  tm
  Touch
    Sensor Technology Product Solutions
    Product
    Strategy
    
    Create greater value in our display
    drivers.  Incorporating innovative technology into
    our display drivers is essential for our long term success. In
    2007, we introduced a
    PowerLitetm
    solution, consisting of a dynamic backlight control algorithm,
    and several high-speed serial interfaces to our display driver
    products. In addition, by combining our new family of LED
    drivers with our new
    PowerLitetm
    LCD drivers, we believe we will be able to provide a system
    solution for display modules, further enhancing the value of our
    display driver products. In the third quarter of 2007, we
    announced an agreement with VP Dynamics to license their
    VPWtm
    RGBW technology for use in our display drivers. Our strategy in
    2008 will be to develop differentiated TFT display drivers using
    these new technologies. We will also utilize our revitalized
    intellectual property offering to pursue non-recurring
    engineering, or NRE driven product development efforts, which
    will defray some of the R&D costs. We will also develop
    display drivers for AMOLED 4




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displays, including designs that incorporate assets and
    intellectual property acquired from Nuelight Corporation. We
    expect this strategy wil allow us to offer value driven products
    at improved gross margins.  
    Expand beyond display drivers.  We have
    leveraged our core capabilities in analog and mixed-signal
    product development and a strong position with portable handset
    makers to move into related, higher margin product areas such as
    LED drivers, power management, audio and touch sensor
    technology. Our high efficiency LED product families are the
    initial result of this effort. In February 2007 we acquired
    Mondowave, Inc., a small private company focused on low power
    portable audio products. In December 2007 we acquired
    Acutechnology Semiconductor, Inc., a small private company
    focused on power management solutions. Collectively, we have
    created a suite of complementary sight, sound and touch products
    that permit our customers to offer portable devices with
    dramatically reduced power consumption, allowing extended
    battery life or the use of smaller, lighter batteries. However,
    we expect only modest revenue in 2008 from these newer products.
    Provide high-quality and cost-effective
    designs.  Our cost reduction strategy depends upon
    process technology migration and designing the smallest possible
    die size for our products. In 2007, we developed a memory
    compression algorithm that enables us to reduce the memory
    requirements in our display drivers by a factor of two with
    negligible impact on picture quality. Since memory can comprise
    as much as 40% of the die area in high resolution display
    drivers, this reduction in memory requirement can have a
    significant impact on product cost. We are designing some of our
    new products using a 0.15um high voltage process, and we plan to
    migrate to a 0.13um high voltage process for our next generation
    display drivers. This migration will enable us to
    cost-effectively incorporate more features on our products and
    improve our overall cost structure.  Sales and
    Marketing
      Customers
   5




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Seasonality
      Manufacturing
      Inventory
  product-by-product
 6




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Research
    and Development
    Intellectual
    Property
      Competition
       7




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Employees
    Financial
    Information by Geographic Location
    ITEM 1A.
    RISK
    FACTORS  You should carefully consider the risks described below as
    well as the other information contained in this annual report on
    Form 10-K
    in evaluating our company and our business. The risks and
    uncertainties described below may not be the only risks and
    uncertainties that we face. Additional risks and uncertainties
    not presently known to us or that we currently deem immaterial
    may also impair our business operations. If any of the following
    risks actually occurs, our business, financial condition and
    results of operations would be impaired. In such case, the
    trading price of our common stock could decline, and you may
    lose all or part of your investment.
  We
    depend on a small number of key customers for substantially all
    of our revenue and the loss of, or a significant reduction in
    orders from, any key customer would significantly reduce our
    revenue and adversely impact our operating
    results.
     8




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Our
    customers include our products in displays sold to a small
    number of handset manufacturers, and the loss of business by our
    customers with these handset manufacturers could adversely
    affect our business.
    Our
    efforts to expand our product portfolio and enter into new
    markets have attendant execution risk.
    We may
    undertake acquisitions to expand our business that may pose
    risks to our business, reduce our cash balance and dilute the
    ownership of our existing stockholders.
    
    problems integrating the acquired operations, technologies or
    products with our existing business and products;
    diversion of managements time and attention from our core
    business;
    need for financial resources above our planned investment levels;
    difficulties in retaining business relationships with suppliers
    and customers of the acquired company;
    risks associated with entering markets in which we lack prior
    experience or relationships; and
    potential loss of key employees of the acquired company.   9




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If we
    are unable to timely develop new and enhanced products that
    achieve market acceptance, our operating results and competitive
    position could be harmed.
      
    accurate prediction of changing requirements of customers within
    the portable device and small panel display markets;
    timely completion and introduction of new designs, including
    low-cost versions of existing products;
    timely qualification and certification of our drivers for use in
    our customers products;
    the prices at which we are able to offer our products;
    quality, performance, power use and size of our products as
    compared to competing products and technologies;
    successful integration of the display module, including
    components supplied by other suppliers;
    commercial acceptance and commercial production of the devices
    into which our products are incorporated;
    achievement of acceptable manufacturing yields;
    interoperability of our products with other display module
    components;
    our customer service and support capabilities and responsiveness;
    successful development of our relationships with existing and
    potential customers;
    our ability to retain, train and manage new suppliers and sales
    representatives and distributors;
    portable service providers demand for handsets
    incorporating our products; and
    changes in technology, industry standards or end-user
    preferences.   10




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We are
    dependent on sales of a small number of products, and the
    absence of continued market acceptance of these products could
    harm our business.
    The
    average selling prices of our products tend to decline over
    time, often rapidly, and if we are unable to develop successful
    new products in a timely manner, our operating results will be
    harmed.
    If we
    are unable to comply with evolving customer specifications and
    requirements, customers may choose other products instead of our
    own.
   11




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Our
    business is highly dependent on the portable consumer
    electronics market, which is highly concentrated and
    characterized by significant price competition, short product
    life cycles, fluctuations in demand, and seasonality, any of
    which could negatively impact our business or results of
    operations.
        We
    have incurred losses in prior periods and will incur losses in
    the future.
    Our
    revenue has fluctuated significantly from quarter to quarter and
    year to year, so you should not rely on the results of any past
    periods as an indication of future revenue performance or
    growth.
    Our
    quarterly financial results fluctuate, which leads to volatility
    in our stock price.
   12




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Our
    products are complex and may require modifications to resolve
    undetected errors or failures, which could lead to an increase
    in our costs, a loss of customers or a delay in market
    acceptance of our products.
    Our
    products must interoperate with the components supplied to our
    customers by other suppliers.
    Failure
    to transition to new manufacturing process technologies could
    adversely affect our operating results and gross
    margin.
    Our
    limited operating history makes it difficult for us to
    accurately forecast revenue and appropriately plan our
    expenses.
   13




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If we
    fail to accurately forecast customer demand, we may have excess
    or insufficient inventory, which may increase our operating
    costs and harm our business.
    Our
    customer orders are subject to cancellation, reduction or delay
    in delivery schedules, which may result in lower than
    anticipated revenue.
    We
    face significant competition and may be unsuccessful in
    competing against current and future competitors.
         14




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We
    face competition from businesses related to our customers, which
    could harm our business.
    We
    rely on a limited number of independent foundries and
    subcontractors for the manufacture, assembly and testing of our
    chipsets and on third party logistics providers to ship products
    to our customers. The failure of any of these third-party
    vendors to deliver products or otherwise perform as requested
    could damage our relationships with our customers, decrease our
    sales and limit our growth.
  and/or and/or
  We
    face risks associated with relying on third-party vendors for
    the manufacture, assembly and testing of our
    products.
    
    reduced ability to increase production and achieve acceptable
    yields on a timely basis;
    reduced control over delivery schedules and product quality;
    limited warranties on wafers or products supplied to us;
    limited ability to obtain insurance coverage for business
    interruptions related to contractors;
    increased exposure to potential misappropriation of our
    intellectual property;
    shortages of materials that foundries use to manufacture our
    products;
    labor shortages or labor strikes;
    political instability in countries where contractors are
    located; and
    actions taken by our subcontractors that breach our agreements.  We do
    not have long-term supply contracts with our third-party
    manufacturing vendors and they may allocate capacity to other
    customers and may not allocate sufficient capacity to us to meet
    future demands for our products.
   15




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Failure
    to achieve expected manufacturing yields for existing and/or new
    products would reduce our gross margin and could adversely
    affect our ability to compete effectively.
    The
    semiconductor industry is highly cyclical, and our operating
    results may be negatively impacted by downturns in the general
    semiconductor industry.
   16




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Any
    disruption to our operations or the operations of our foundry,
    assembly and test contractors resulting from earthquakes or
    other natural disasters could cause significant delays in the
    production or shipment of our products.
    We
    rely on our key personnel to manage our business, and to develop
    products, and if we are unable to retain our current personnel
    and hire additional personnel, our ability to develop and
    successfully market our products could be harmed.
    Our
    inability to effectively manage growth in our operations may
    prevent us from successfully expanding our
    business.
    Our
    ability to compete will be harmed if we are unable to adequately
    protect our intellectual property.
   17




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Assertions
    by third parties of infringement by us of their intellectual
    property rights could result in significant costs and cause our
    operating results to suffer.
    
    stop selling products or using technology that contain the
    allegedly infringing intellectual property;
    pay damages to the party claiming infringement;
    attempt to obtain a license to the relevant intellectual
    property, which may not be available on reasonable terms or at
    all; and
    attempt to redesign those products that contain the allegedly
    infringing intellectual property.    We
    have significant international activities and customers, and
    plan to continue such efforts, which subjects us to additional
    business risks including increased logistical complexity,
    political instability and currency fluctuations.
  and/or
  
    increased complexity and costs of managing international
    operations;
    protectionist and other foreign laws and business practices that
    favor local competition in some countries;
    difficulties in managing foreign operations, including cultural
    differences;
    difficulty in hiring qualified management, technical sales and
    applications engineers;
    potentially reduced protection for intellectual property rights;
    inadequate local infrastructure;
    multiple, conflicting and changing laws, regulations, export and
    import restrictions, and tax schemes;
    potentially longer and more difficult collection periods and
    exposure to foreign currency exchange rate fluctuations; and
    political and economic instability.   18




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We may
    have exposure to greater than anticipated tax
    liabilities
    Difficulties
    in collecting accounts receivable could result in significant
    charges against income and the deferral of revenue recognition
    from sales to affected customers, which could harm our operating
    results and financial condition.
  and/or
  Funds
    associated with certain of our auction rate securities may not
    be accessible for in excess of twelve months and our auction
    rate securities may experience an other than temporary decline
    in value, which would adversely affect our income.
   19




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We may
    need to raise additional capital, which might not be available
    or which, if available, may be on terms that are not favorable
    to us.
    Our
    stock price is volatile, which could result in substantial
    losses for investors and significant costs related to
    litigation.
    
    quarterly variations in revenue or operating results;
    failure to meet the expectations of securities analysts or
    investors with respect to our financial performance;
    changes in financial estimates by securities analysts;
    announcements by us or our competitors of new product and
    service offerings, significant contracts, acquisitions or
    strategic relationships;
    publicity about our company or our products or our competitors;
    announcements by portable handset manufacturers;
    actual or anticipated fluctuations in our competitors
    operating results or changes in their growth rates;
    additions or departures of key personnel;
    the trading volume of our common stock;
    any future sales of our common stock or other
    securities; and
    stock market price and volume fluctuations of publicly-traded
    companies in general and semiconductor companies in particular.    We
    currently are, and in the future may be, subject to securities
    class action lawsuits due to decreases in our stock
    price.
   20




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Our
    principal stockholders have significant voting power and may
    influence actions that may not be in the best interests of our
    other stockholders.
    Our
    reported financial results may be adversely affected by changes
    in accounting principles generally accepted in the United
    States.
    If we
    fail to maintain the adequacy of our internal controls, our
    ability to provide accurate financial statements could be
    impaired and any failure to maintain our internal controls and
    provide accurate financial statements could cause our stock
    price to decrease substantially.
   21




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Anti-takeover
    provisions of our charter documents and Delaware law could
    prevent or delay transactions resulting in a change in
    control.
    
    establish a classified board of directors, so that not all
    members of our board may be elected at one time;
    set limitations on the removal of directors;
    limit who may call a special meeting of stockholders;
    establish advance notice requirements for nominations for
    election to our board of directors or for proposing matters that
    can be acted upon at stockholder meetings;
    prohibit stockholder action by written consent, thereby
    requiring all stockholder actions to be taken at a meeting of
    our stockholders; and
    provide our board of directors the ability to designate the
    terms of and issue new series of preferred stock without
    stockholder approval.    ITEM 1B.
    UNRESOLVED
    STAFF COMMENTS    ITEM 2.
    PROPERTIES    ITEM 3.
    LEGAL
    PROCEEDINGS   22




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ITEM 4.
    SUBMISSION
    OF MATTERS TO A VOTE OF SECURITY HOLDERS   PART II  ITEM 5.
    MARKET
    FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS
    AND ISSUER PURCHASES OF EQUITY SECURITIES      Fiscal Year 2007


Fiscal Year 2006High


Low


High


LowFirst Quarter

$
5.01


$
3.95


$
5.78


$
4.96Second Quarter


4.16



3.43



6.29



4.81Third Quarter


3.59



3.09



5.39



3.87Fourth Quarter


3.42



2.62



5.14



3.84       Use of
    Proceeds from the Sale of Registered Securities
  Form S-1 No. 333-113880)
  Equity
    Compensation Plan Information
    Stock
    Performance Graph
   23




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COMPARISON
    OF CUMULATIVE TOTAL RETURN
    AMONG LEADIS TECHNOLOGY, INC.,
    NASDAQ MARKET INDEX AND PEER GROUP INDEX
  
  ASSUMES
    $100 INVESTED ON JUNE 16, 2004
    ASSUMES DIVIDEND REINVESTED
    FISCAL YEAR ENDING DEC. 31, 2007
   24




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ITEM 6.
    SELECTED
    FINANCIAL DATA        Year Ended December 31,2007(2)


2006


2005


2004


2003(In thousands, except per share amounts)Consolidated Statement of Operations Data:Revenue

$
39,581


$
101,208


$
64,182


$
150,250


$
84,456Cost of sales(1)


36,343



88,506



50,197



97,725



54,305Gross profit


3,238



12,702



13,985



52,525



30,151Operating expenses:Research and development(1)


18,599



13,796



14,522



14,964



7,042Selling, general and administrative(1)


16,383



14,785



12,766



8,545



3,538Amortization of purchased intangible assets


2,090















In-process research and development


2,470















Total operating expenses


39,542



28,581



27,288



23,509



10,580Operating income (loss)


(36,304
)


(15,879
)


(13,303
)


29,016



19,571Interest and other income (expense), net


4,392



4,349



2,718



956



59Net income (loss) before income taxes


(31,912
)


(11,530
)


(10,585
)


29,972



19,630Benefit from (provision for) income taxes


980



(523
)


(765
)


(12,379
)


(6,870
)Net income (loss) before cumulative effect of change in
    accounting principle


(30,932
)


(12,053
)


(11,350
)


17,593



12,760Cumulative effect of change in accounting principle, net of
    tax(1)






142











Net income (loss)

$
(30,932
)

$
(11,911
)

$
(11,350
)

$
17,593


$
12,760Basic net income (loss) per share before cumulative effect of
    change in accounting principle

$
(1.06
)

$
(0.42
)

$
(0.40
)

$
0.72


$
0.62Cumulative effect of change in accounting principle






0.01











Basic net income (loss) per share

$
(1.06
)

$
(0.41
)

$
(0.40
)

$
0.72


$
0.62Diluted net income (loss) per share before cumulative effect of
    change in accounting principle

$
(1.06
)

$
(0.42
)

$
(0.40
)

$
0.63


$
0.55Cumulative effect of change in accounting principle






0.01











Diluted net income (loss) per share

$
(1.06
)

$
(0.41
)

$
(0.40
)

$
0.63


$
0.55Weighted-average number of shares used in calculating basic net
    income (loss) per share


29,119



28,802



28,143



24,469



20,572Weighted-average number of shares used in calculating diluted
    net income (loss) per share


29,119



28,802



28,143



27,817



23,130  25




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(1)
    
    As required under SFAS No. 123(R), we recorded a
    cumulative effect of change in accounting principle benefit of
    $0.1 million for the year ended December 31, 2006,
    reflecting estimated future forfeitures of options previously
    expensed under APB No. 25. Amounts in 2007 and 2006 include
    stock-based compensation expenses recorded under
    SFAS No. 123(R), and amounts in 2003 through 2005
    include amortization of deferred stock-based compensation
    recorded under APB No. 25, as follows (in thousands):  Year Ended December 31,2007


2006


2005


2004


2003(SFAS123R)


(SFAS123R)


(APB25)


(APB25)


(APB25)Cost of sales

$
122


$
417


$
97


$
269


$
26Research and development

$
1,046


$
1,017


$
794


$
1,730


$
692Selling, general and administrative

$
2,224


$
3,232


$
1,211


$
2,492


$
202    (2)
    
    During 2007, we acquired Mondowave, Inc. and Acutechnology
    Semiconductor, Inc. Consolidated statement of operations data
    for 2007 include the operations of acquired entities and other
    charges related to the acquisitions and, as a result, are not
    fully comparable to data in prior periods.  December 31,2007


2006


2005


2004


2003(In thousands)Consolidated Balance Sheet Data:Cash and cash equivalents

$
33,945


$
62,697


$
72,801


$
45,012


$
22,956Working capital

$
68,418


$
109,310


$
116,040


$
124,351


$
26,470Total assets

$
99,579


$
140,729


$
143,914


$
154,815


$
61,652Total debt

$
1,061


$



$



$



$
Redeemable convertible preferred stock

$



$



$



$



$
14,300Stockholders equity

$
83,477


$
114,037


$
119,815


$
127,106


$
13,607   ITEM 7.
    MANAGEMENTS
    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
    OPERATIONS  Cautionary
    Statement
  This Managements Discussion and Analysis of Financial
    Condition and Results of Operations should be read in
    conjunction with the accompanying audited consolidated financial
    statements and notes included in this report. This Annual Report
    on
    Form 10-K
    contains forward-looking statements within the meaning of
    Section 27A of the Securities Act of 1933 and
    Section 21E of the Securities Exchange Act of 1934, which
    include, without limitation, statements about the market for our
    technology, our strategy, competition, expected financial
    performance, and all information disclosed under Item 7 of
    this Part II. Any statements about our business, financial
    results, financial condition and operations contained in this
    Form 10-K
    that are not statements of historical fact may be deemed to be
    forward-looking statements. Without limiting the foregoing, the
    words believes, anticipates,
    expects, intends, projects,
    or similar expressions are intended to identify forward-looking
    statements. Our actual results could differ materially from
    those expressed or implied by these forward-looking statements
    as a result of various factors, including the risk factors
    described under the heading Risk Factors and
    elsewhere in this report. We undertake no obligation to update
    publicly any forward-looking statements for any reason, except
    as required by law, even as new information becomes available or
    events occur in the future.
  Overview
   26




---



##### Table of Contents



27




---



##### Table of Contents



Critical
    Accounting Policies and Estimates
      Revenue Recognition.
  Allowance for Uncollectible Accounts
    Receivable.
  Inventory Valuation. first-in,
 28




---



##### Table of Contents



Valuation of Marketable Securities.
  Warranty Obligations.
    Accounting for Income Taxes.
 29




---



##### Table of Contents



Stock-Based Compensation.
 30




---



##### Table of Contents



Year Ended December 31, 2007


Year Ended December 31, 2006Stock





StockOptions


ESPP


Options


ESPPExpected term (years)


4.56



0.75



4.25



0.73Volatility


49
%


43
%


56
%


67
%Risk-free interest rate


4.4
%


4.7
%


4.7
%


3.6
%Dividend yield


0.0
%


0.0
%


0.0
%


0.0
%Weighted-average estimated fair value

$
1.68


$
1.22


$
2.47


$
2.63     No. 96-18,
  Asset & Goodwill Impairment.
  
    significant underperformance relative to historical or projected
    future operating results;
    significant changes in the manner of our use of the acquired
    assets; and
    significant decline in our market capitalization.   31




---



##### Table of Contents



and/or
  Results
    of Operations
    Year Ended December 31,2007


2006


2005Revenue


100
%


100
%


100
%Cost of sales


92
%


87
%


78
%Gross profit


8
%


13
%


22
%Operating expenses:Research and development


47
%


14
%


23
%Selling, general and administrative


42
%


15
%


20
%Amortization of purchased intangible assets


5
%






In-process research and development


6
%






Total operating expenses


100
%


29
%


43
%Operating loss


(92
)%


(16
)%


(21
)%Net loss


(78
)%


(12
)%


(18
)%   Total
    Revenue
  Change,





Change,2007


2007 vs 2006


2006


2006 vs 2005


2005(In thousands)Total revenue

$
39,581



(61
)%

$
101,208



58
%

$
64,182    32




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##### Table of Contents



Revenue
    by Customer
  % of Accounts Receivable% of Revenue for the Year Ended December 31,


at December 31,2007


2006


2005


2007


2006TPO Displays Corp. **


53
%


31
%


21
%


84
%


42
%Rikei Corp.


29
%


*



*



*



17
%Samsung SDI


*



35
%


42
%


*



16
%AU Optronics Corp.


*



21
%


*



*



15
%Hosiden Corp.


*



*



17
%


*



*     *
    
    Less than 10%**
    
    TPO Displays Corp. includes both Philips Mobile Display Systems
    and Toppoly Optoelectronics Corporation for all periods
    presented as a result of the merger of these companies in 2006.     33




---



##### Table of Contents



Revenue
    by Geography
    Year Ended December 31,2007


2006


2005China


58
%


82
%


55
%Japan


29
%


6
%


Taiwan


9
%


4
%


13
%Korea


4
%


8
%


32
%Total revenue


100
%


100
%


100
%     Gross
    Profit
  Change,





Change,2007


2007 vs. 2006


2006


2006 vs. 2005


2005(In thousands)Gross profit

$
3,238



(75
)%

$
12,702



(9
)%

$
13,985as % of Revenue


8
%






13
%






22
%         Research
    and Development
  Change,





Change,2007


2007 vs. 2006


2006


2006 vs. 2005


2005(In thousands)Research and Development

$
18,599



35
%

$
13,796



(5
)%

$
14,522as % of Revenue


47
%






14
%






23
%  34




---



##### Table of Contents



Selling,
    General and Administrative
  Change,





Change,2007


2007 vs. 2006


2006


2006 vs. 2005


2005(In thousands)Selling, general and administrative

$
16,383



11
%

$
14,785



16
%

$
12,766as % of Revenue


42
%






15
%






20
%          35




---



##### Table of Contents



In-Process
    Research and Development and Amortization of Intangible
    Assets
  Change,





Change,2007


2007 vs. 2006


2006


2006 vs. 2005


2005(In thousands)In-process research and development

$
2,470



100
%

$
0






$
0as % of Revenue


6
%






0
%






0
%Amortization of intangible assets

$
2,090



100
%

$
0






$
0as % of Revenue


5
%






0
%






0
%         Interest
    and Other Income (Expense), net
  Change,





Change,2007


2007 vs. 2006


2006


2006 vs. 2005


2005(In thousands)Interest and other income (expense), net

$
4,392



1
%

$
4,349



60
%

$
2,718        36




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##### Table of Contents



Provision
    for (Benefit from) Income Taxes
  Change,





Change,2007


2007 vs. 2006


2006


2006 vs. 2005


2005(In thousands)Provision for (benefit from) income taxes

$
(980
)


(287
)%

$
523



(32
)%

$
765Effective tax rate


3
%






(5
)%






(7
)%as % of Revenue


(2
)%






1
%






1
%       and/or
    Balance at January 1, 2007

$
1,519Additions based on tax positions taken during the current year


619Reductions due to lapsing of applicable statute of limitations


(58
)Balance at December 31, 2007

$
2,080  37




---



##### Table of Contents



Liquidity
    and Capital Resources
               38




---



##### Table of Contents



Recently
    issued accounting pronouncements
    157-1,
 39




---



##### Table of Contents



(FSP 157-1) FSP 157-2, (FSP 157-2). FSP 157-1 FSP 157-2
        Contractual
    Obligations
   40




---



##### Table of Contents



Payments Due by PeriodLess Than


1 to 3


3 to 5


More ThanTotal


1 Year


Years


Years


5 YearsOperating lease obligations

$
1,625


$
947


$
678


$



$
Software license installment payments


1,722



613



1,109







Purchase obligations


3,931



3,931











Other obligations


844



844











Total

$
8,122


$
6,335


$
1,787


$



$
     Off-Balance-Sheet
    Arrangements
  Regulation S-K.
  ITEM 7A.
    QUANTITATIVE
    AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK  Interest Rate Risk.
  Investment Liquidity Risk.
 41




---



##### Table of Contents



Foreign Currency Exchange Risk.
 42




---



##### Table of Contents



ITEM 8.
    FINANCIAL
    STATEMENTS AND SUPPLEMENTARY DATA REPORT OF
    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM             
    43




---



##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  CONSOLIDATED
    BALANCE SHEETS
  December 31,


December 31,2007


2006(In thousands, exceptshare and per share data)ASSETSCurrent assets:Cash and cash equivalents

$
33,945


$
62,697Short-term investments


31,286



43,845Accounts receivable, net


5,787



17,399Inventories


2,210



7,024Income taxes receivable and deferred tax assets


3,038



3,087Restricted cash


2,508



Prepaid expenses and other current assets


1,232



1,411Total current assets


80,006



135,463Property and equipment, net


4,534



4,160Goodwill


5,108



281Intangible assets, net


6,125



Long term investments


3,000



Other assets


806



825Total assets

$
99,579


$
140,729LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts payable

$
4,538


$
19,623Income taxes payable and deferred tax liabilities


353



2,342Deferred margin


6



383Other accrued liabilities


6,691



3,805Total current liabilities


11,588



26,153Income taxes payable and deferred tax liabilities


3,439



Other noncurrent liabilities


1,075



539Total liabilities


16,102



26,692Commitments and Contingencies (Note 6)Stockholders equity:Preferred stock: $0.001 par value; 5,000,000 shares
    authorized and 0 shares issued and outstanding at
    December 31, 2007 and 2006






Common stock: $0.001 par value; 120,000,000 shares
    authorized and 28,905,998 shares issued and outstanding at
    December 31, 2007; 120,000,000 shares authorized and
    29,306,230 shares issued and outstanding at
    December 31, 2006


29



29Additional paid-in capital


107,910



107,853Accumulated other comprehensive income


1,232



1,228Retained earnings (accumulated deficit)


(25,694
)


4,927Total stockholders equity


83,477



114,037Total liabilities and stockholders equity

$
99,579


$
140,729    44




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  CONSOLIDATED
    STATEMENTS OF OPERATIONS
  Year Ended December 31,2007


2006


2005(In thousands, except per share data)Revenue

$
39,581


$
101,208


$
64,182Cost of sales


36,343



88,506



50,197Gross profit


3,238



12,702



13,985Operating expenses:Research and development


18,599



13,796



14,522Selling, general and administrative


16,383



14,785



12,766Amortization of intangible assets


2,090







In-process research and development


2,470







Total operating expenses


39,542



28,581



27,288Operating loss


(36,304
)


(15,879
)


(13,303
)Interest and other income (expense), net


4,392



4,349



2,718Loss before income taxes


(31,912
)


(11,530
)


(10,585
)Provision for (benefit from) income taxes


(980
)


523



765Loss before cumulative effect of change in accounting principle


(30,932
)


(12,053
)


(11,350
)Cumulative effect of change in accounting principle, net of tax






142



Net loss

$
(30,932
)

$
(11,911
)

$
(11,350
)Basic and diluted net loss per share before cumulative effect of
    change in accounting principle

$
(1.06
)

$
(0.42
)

$
(0.40
)Cumulative effect of change in accounting principle






0.01



Basic and diluted net loss per share

$
(1.06
)

$
(0.41
)

$
(0.40
)Weighted-average number of shares used in computing basic and
    diluted per share amounts


29,119



28,802



28,143    45




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  CONSOLIDATED
    STATEMENTS OF CASH FLOWS
  Year Ended December 31,2007


2006


2005(In thousands)Cash flows from operating activities:Net loss

$
(30,932
)

$
(11,911
)

$
(11,350
)Adjustments to reconcile net loss to net cash used in operating
    activities:Depreciation and amortization


1,500



1,229



783Amortization of intangible assets


2,090







Net loss (gain) on disposal or sale of fixed assets


4



(2
)


21Provision for excess and obsolete inventory


2,165



1,972



1,888Loss on purchase commitments


368



887



Deferred tax provision (benefit)


(1,781
)


(4
)


1,912Cumulative effect of change in accounting principle






(142
)Stock-based compensation


3,392



4,666



2,102Tax benefit from exercise of warrants and options






(98
)


1,199In-process research and development


2,470







Changes in assets and liabilities, net of effect of acquisitions:Accounts receivable


11,706



(2,626
)


15,764Inventories


2,672



4,111



(8,854
)Taxes receivable


338



327



(131
)Prepaid expenses and other assets


226



(296
)


(182
)Accounts payable


(15,086
)


1,792



(2,748
)Accrued liabilities


2,005



(284
)


(622
)Income taxes payable


700



274



(543
)Deferred margin


(377
)


52



224Net cash used in operating activities


(18,540
)


(53
)


(537
)Cash flows from investing activities:Sale or maturity of available for sale securities


57,423



34,066



63,763Purchases of available for sale securities


(47,864
)


(43,834
)


(33,880
)Purchase of property and equipment


(683
)


(1,605
)


(2,131
)Acquisition of businesses, net of cash and cash equivalents
    acquired


(12,727
)






Purchase of intellectual property


(500
)






Restricted cash


(2,508
)






Net cash provided by (used in) investing activities


(6,859
)


(11,373
)


27,752Cash flows from financing activities:Proceeds from issuance of common stock


520



754



701Repurchase and retirement of common stock


(3,836
)






Gross tax benefit from stock options






98



Installment payments on acquistion of software licenses


(73
)






Net cash provided by (used in) financing activities


(3,389
)


852



701Effect of exchange rate changes on cash and cash equivalents


36



470



(127
)Net increase (decrease) in cash and cash equivalents


(28,752
)


(10,104
)


27,789Cash and cash equivalents at beginning of period


62,697



72,801



45,012Cash and cash equivalents at end of period

$
33,945


$
62,697


$
72,801Supplemental disclosures:Software acquired under financing

$
1,131


$
23


$
Interest paid

$
25


$
1


$
13Income taxes paid (refunded), net

$
(279
)

$
844


$
2,513    46




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  CONSOLIDATED
    STATEMENTS OF STOCKHOLDERS EQUITY
  Accumulated


RetainedAdditional


Deferred


Other


Earnings


TotalCommon Stock


Paid-in


Stock-based


Comprehensive


(Accumulated


Stockholders


ComprehensiveShares


Amount


Capital


Compensation


Income (Loss)


Deficit)


Equity


Income (Loss)Balance at December 31, 2004


28,025


$
28


$
101,812


$
(3,336
)

$
414


$
28,188


$
127,106Net loss






















(11,350
)


(11,350
)

$
(11,350
)Currency translation adjustment, net of tax


















104







104



104Unrealized loss on investments, net of tax


















(47
)






(47
)


(47
)Comprehensive loss





























$
(11,293
)Deferred stock-based compensation










(38
)


38











Amortization of deferred stock-based compensation














2,102











2,102Exercise of common stock options


363







113















113Issuance of common shares under stock purchase plan


104







588















588Tax benefits realized from warrant exercises










1,199















1,199Balance at December 31, 2005


28,492



28



103,674



(1,196
)


471



16,838



119,815Net loss






















(11,911
)


(11,911
)

$
(11,911
)Currency translation adjustment, net of tax


















664







664



664Unrealized gain on investments, net of tax


















93







93



93Comprehensive loss





























$
(11,154
)Elimination of deferred stock-based compensation upon adoption
    of SFAS No. 123(R)










(1,196
)


1,196











Cumulative effect of change in accounting principle, net of tax










(142
)














(142
)Stock-based compensation










4,666















4,666Exercise of common stock options


683



1



216















217Issuance of common shares under stock purchase plan


131







537















537Excess tax benefits realized from employee stock option plans










98















98Balance at December 31, 2006


29,306



29



107,853







1,228



4,927



114,037Net loss






















(30,932
)


(30,932
)

$
(30,932
)Currency translation adjustment, net of tax


















(58
)






(58
)


(58
)Unrealized loss on investments, net of tax


















62







62



62Comprehensive loss





























$
(30,928
)Stock-based compensation










3,392















3,392Cumulative effect of adoption of FIN 48






















311



311Exercise of common stock options


580



1



149















150Issuance of common shares under stock purchase plan


115







370















370Tax benefit deficiency realized from employee stock option plans










(19
)














(19
)Repurchase and retirement of common stock


(1,095
)


(1
)


(3,835
)














(3,836
)Balance at December 31, 2007


28,906


$
29


$
107,910


$



$
1,232


$
(25,694
)

$
83,477    47




---



##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS
  Note 1.
    Nature of
    Operations    Note 2.
    Summary
    of Significant Accounting Policies    Use of
    estimates
    Foreign
    currency translation
    Foreign
    exchange contracts
    Cash,
    cash equivalents and investments
   48




---



##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Risks
    and uncertainties and concentrations of credit
    risk
        Inventory
    valuation
  first-in,
    Revenue
    recognition
   49




---



##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Goodwill
  Goodwill and Other Intangible
    Assets
  
    significant underperformance relative to historical or projected
    future operating results;
    significant changes in the manner of our use of the acquired
    assets; and
    significant decline in our market capitalization.      Impairment
    of long-lived assets
  Accounting for the
    Impairment or Disposal of Long-Lived Assets,
  
    significant underperformance relative to historical or projected
    future operating results;
    significant changes in the manner of our use of the acquired
    assets; and
    significant decline in our market capitalization.   50




---



##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Warranty
    accrual
      Stock-based
    compensation
     51




---



##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
      Year EndedDecember 31,2006Stock-based compensation recorded under SFAS 123(R)

$
4,666Stock-based compensation expense that would have been recorded
    under APB 25


1,099Net impact on adoption of SFAS 123(R)

$
3,567Net impact upon adoption of SFAS 123(R) on basic anddiluted loss per share

$
0.12     No. 96-18,
  Stock-Based
    Compensation Information under
    SFAS No. 123(R)
    Year Ended December 31,2007


2006


2005SFAS123R


SFAS123R


APB 25Cost of sales

$
122


$
417


$
97Research and development


1,046



1,017



794Selling, general and administrative


2,224



3,232



1,211Total stock-based compensation expense

$
3,392


$
4,666


$
2,102  52




---



##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Year Ended


Year EndedDecember 31,


December 31,2007


2006Stock Options


ESPP


Stock Options


ESPPExpected term (years)


4.56



0.75



4.25



0.73Volatility


49
%


43
%


56
%


67
%Risk-free interest rate


4.4
%


4.7
%


4.7
%


3.6
%Dividend yield


0.0
%


0.0
%


0.0
%


0.0
%Weighted-average estimated fair value

$
1.68


$
1.22


$
2.47


$
2.63        53




---



##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  Pro Forma
    Information under SFAS No. 123 for the year ended
    December 31, 2005
    Year EndedDecember 31,2005Net loss as reported

$
(11,350
)Deduct: stock-based employee compensation expense included in
    reported net loss, net of tax


1,522Add: total stock-based employee compensation determined under
    fair value based method for all awards, net of tax


(4,105
)Pro forma net loss

$
(13,933
)Basic net loss per share as reported

$
(0.40
)Diluted net loss per share as reported

$
(0.40
)Pro forma basic net loss per share

$
(0.50
)Pro forma diluted net loss per share

$
(0.50
)     Year EndedDecember 31,2005Stock Options


ESPPExpected term (years)


3.66



0.67Volatility


83
%


94
%Risk-free interest rate


4.0
%


2.5
%Dividend yield


0.0
%


0.0
%Weighted average estimated value

$
3.66


$
3.08     Net
    income (loss) per share
   54




---



##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Year Ended December 31,2007


2006


2005Numerator:Net loss before cumulative effect of change in accounting
    principle

$
(30,932
)

$
(12,053
)

$
(11,350
)Net loss

$
(30,932
)

$
(11,911
)

$
(11,350
)Denominator:Weighted-average common shares outstanding


29,131



28,887



28,290Less: unvested common shares subject to repurchase


(12
)


(85
)


(147
)Total shares, basic


29,119



28,802



28,143Effect of dilutive securities:Stock options and warrants










Unvested shares subject to repurchase and restricted stock units










Total shares, diluted


29,119



28,802



28,143Net loss per common share before cumulative effect of change in
    accounting principle, basic

$
(1.06
)

$
(0.42
)

$
(0.40
)Cumulative effect of change in accounting principle






0.01



Net loss per common share, basic

$
(1.06
)

$
(0.41
)

$
(0.40
)Net loss per common share before cumulative effect of change in
    accounting principle, diluted

$
(1.06
)

$
(0.42
)

$
(0.40
)Cumulative effect of change in accounting principle






0.01



Net loss per common share, diluted

$
(1.06
)

$
(0.41
)

$
(0.40
)     December 31,2007


2006


2005Stock options


6,633



5,506



5,391Unvested shares subject to repurchase


1



24



147Restricted stock units


185







   Comprehensive
    income (loss), net of tax
   55




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    December 31,2007


2006Unrealized gain on available for sale securities, net of tax

$
82


$
20Cumulative translation adjustment, net of tax


1,150



1,208Accumulated other comprehensive income

$
1,232


$
1,228   Recently
    issued accounting pronouncements
    157-1, (FSP 157-1) FSP 157-2, (FSP 157-2). FSP 157-1 FSP 157-2
     56




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Note 3.
    Business
    Combinations     57




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Straight-LineFair Market


Depreciation/Value


Amortization Period(In thousands)Cash

$
186Other current assets


115Property and equipment


93



3-5 yearsIn-process research and development


1,320Goodwill


2,586Intangible assets:Developed technology


4,440



2 yearsNon-compete covenant agreements


864



3 yearsTotal assets acquired


9,604Current liabilities


(50
)Deferred tax liabilities, net


(1,489
)Total liabilities assumed


(1,539
)Net assets acquired

$
8,065      58




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
      Straight-LineDepreciation /Fair Market Value


Amortization Period(In thousands)Cash

$
152Other current assets


49Property and equipment


3



3-5 yearsIn-process research and development


650Goodwill


2,241Intangible assets:Developed technology


1,390



3 yearsCustomer relationships and backlog


1,053



4 yearsNon-compete covenant agreements


468



3 yearsTotal assets acquired


6,006Deferred tax liabilities, net


(1,006
)Net assets acquired

$
5,000      59




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    December 31,2007


2006Revenue

$
40,789


$
103,754Loss before cumulative effect of change in accounting principle

($
30,753
)

($
13,738
)Cumulative effect of change in accounting principle, net of tax

$



$
142Net loss

$
(30,753
)

$
(13,596
)Net loss per share  basic and diluted

($
1.06
)

$
(0.47
)     Note 4.
    Goodwill
    and Intangible Assets  Business Combinations
  Business Combinations
  Gross


AccumulatedAssets


Amortization


Net(In thousands)Developed technology

$
5,830


$
(1,850
)

$
3,980Non-compete covenant agreements


1,332



(240
)


1,092Customer relationship and backlog


1,053







1,053Total acquisition-related intangible assets

$
8,215


$
(2,090
)

$
6,125     (In thousands)Future amortization:2008

$
3,3912009


1,5412010


9312011


262Total

$
6,125  60




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  Note 5.
    Financial
    Statement Details  Available
    for sale securities
    Original


Unrealized


Unrealized


EstimatedCost


Gains


Losses


Fair ValueMoney market funds

$
6,985


$



$



$
6,985U.S. government agency bonds


18,662



25







18,687Foreign debt securities


999











999Auction rate securities


6,500











6,500Commercial paper


15,586







(1
)


15,585Corporate bonds


12,295



56



(5
)


12,346$
61,027


$
81


$
(6
)

$
61,102Included in:Cash and cash equivalents













$
27,809Short-term investments













$
30,293Long-term investments













$
3,000     Original


Unrealized


Unrealized


EstimatedCost


Gains


Losses


Fair ValueMoney market funds

$
9,451


$



$



$
9,451U.S. government agency bonds


20,938



3



(12
)


20,929Foreign debt securities


987



1







988Auction rate securities


14,750











14,750Commercial paper


38,591







(1
)


38,590Corporate bonds


9,189







(12
)


9,177$
93,906


$
4


$
(25
)

$
93,885Included in:Cash and cash equivalents













$
50,040Short-term investments













$
43,845     2007Due in one year or less

$
46,743Due after one year through five years


7,859Due after five years


6,500$
61,102    61




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
      Accounts
    receivable, net
    December 31,2007


2006Accounts receivable, gross

$
5,816


$
17,791Allowance for doubtful accounts


(29
)


(392
)Accounts receivable, net

$
5,787


$
17,399     Balance December 31, 2004

$
561Provision/Adjustments


(26
)Write-offs


(41
)Balance December 31, 2005


494Provision/Adjustments


(60
)Write-offs


(42
)Balance December 31, 2006


392Provision/Adjustments


(363
)Write-offs


Balance December 31, 2007

$
29  62




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  Inventories
    December 31,2007


2006Finished goods

$
1,427


$
4,307Work in process


783



2,717$
2,210


$
7,024   Property
    and equipment, net
    December 31,2007


2006Computer equipment and software

$
4,841


$
3,411Machinery, equipment and vehicles


2,764



2,495Furniture and fixtures


369



292Building


290



293Leasehold improvements


494



3828,758



6,873Less: accumulated depreciation and amortization


(4,224
)


(2,713
)$
4,534


$
4,160     Other
    accrued liabilities
    December 31,2007


2006Accrued compensation costs

$
3,776


$
1,083Warranty accruals


220



928Reserve for adverse purchase commitments


1,255



887Other accrued liabilities


1,440



907$
6,691


$
3,805   Warranty
    accrual
   63




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Balance December 31, 2004

$
2,358Accruals for warranty


612Adjustments made


(1,110
)Settlements made


(1,021
)Balance December 31, 2005


839Accruals for warranty


907Adjustments made


(704
)Settlements made


(114
)Balance December 31, 2006


928Accruals for warranty


740Adjustments made


(568
)Settlements made


(880
)Balance December 31, 2007

$
220     Revenue
    and accounts receivable by customer
  % of Revenue for the

% of Accounts ReceivableYear Ended December 31,

at December 31,2007

2006

2005

2007

2006TPO Displays Corp. **

53%

31%

21%

84%

42%Rikei Corp.

29%

*

*

*

17%Samsung SDI

*

35%

42%

*

16%AU Optronics Corp.

*

21%

*

*

15%Hosiden Corp.

*

*

17%

*

*     *
    
    Less than 10%**
    
    TPO Displays Corp. includes both Philips Mobile Display Systems
    and Toppoly Optoelectronics Corporation for all periods
    presented as a result of the merger of these companies in 2006.   64




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  Interest
    and other income (expense), net
    Year Ended December 31,2007


2006


2005Interest income

$
4,468


$
4,762


$
3,034Foreign exchange gain (loss)


(70
)


(473
)


(214
)Other income (expense), net


(6
)


60



(102
)$
4,392


$
4,349


$
2,718   Note 6.
    Commitments
    and Contingencies  Indemnifications
    Operating
    leases and financing
    Total2011 and


Less:


Minimum2008


2009


2010


thereafter


Interest


PaymentsOperating leases

$
947


$
496


$
182


$



$



$
1,625Software license installment payments


613



680



429







(111
)

$
1,611$
1,560


$
1,176


$
611


$



$
(111
)

$
3,236     Note 7.
    Common
    Stock and Preferred Stock      Total Number of

Average Price per

Total AmountShares Purchased

Share

Repurchased1,095

$
3.50


$
3,837  65




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
      Note 8.
    Stock
    Plans  Stock
    option plans
           66




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Options andRestrictedStock Units





WeightedAvailable for





AverageFuture


Outstanding


ExerciseIssuance


Options


PriceBalance at December 31, 2006


5,480



5,506


$
3.78Authorized


1,510



Restricted stock units granted


(229
)


Restricted stock units forfeited


44



Options granted


(2,729
)


2,729


$
3.65Options exercised






(580
)

$
0.26Options forfeited/cancelled


1,022



(1,022
)

$
5.45Balance at December 31, 2007


5,098



6,633


$
3.78     AverageNumber of


Grant DateShares


Fair ValueShares issued but unvested, December 31, 2006


24


$
5.79Vested


(23
)

$
9.42Shares issued but unvested, December 31, 2007


1


$
10.12     Options Outstanding

Options Vested and ExercisableWeighted

Weighted





Weighted

WeightedAverage

Average



Shares

Average

AverageRemaining

Exercise

Aggregate

Vested

Remaining

Exercise

AggregateShares

Contractual

Price

Intrinsic

and

Contractual

Price

IntrinsicOutstanding

Life in Years

per Share

Value

Exercisable

Life in Years

per Share

Value6,633



4.91


$
3.78


$
3,696



3,138



4.53


$
3.27


$
3,664   in-the-money
     67




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
    Restricted
    Stock Units
    Year EndedDecember 31, 2007Granted


229Forfeited


(44
)Outstanding


185     Employee
    Stock Purchase Plan
      Stock
    options issued to non-employees
    Note 9.  Income
    Taxes
    Year Ended December 31,2007


2006


2005US operations

$
(10,500
)

$
(4,449
)

$
(2,303
)Foreign operations


(21,412
)


(7,081
)


(8,282
)Total pretax loss

$
(31,912
)

$
(11,530
)

$
(10,585
)  68




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
      Year Ended December 31,2007


2006


2005Current:Federal

$
466


$
(151
)

$
(1,833
)State


1



13



36Foreign


334



665



650Total current


801



527



(1,147
)Deferred:Federal


(1,960
)


(119
)


1,992State


114



150



(83
)Foreign


65



(35
)


3Total deferred


(1,781
)


(4
)


1,912Total provision for (benefit from) income taxes

$
(980
)

$
523


$
765     December 31,2007


2006Deferred tax assets:Net operating loss carryforwards

$
921


$
10Tax credits


327



15Stock based compensation


1,059



704Accruals, reserves and other


503



188Property and equipment and other


150



62Gross deferred tax assets


2,960



979Less: Valuation allowance


(823
)


(381
)Net deferred tax assets


2,137



598Deferred tax liabilities:Intangible assets and other


(2,196
)


Other comprehensive income


(524
)


(517
)Total deferred tax liabilities


(2,720
)


(517
)Net deferred tax assets (liabilities)

$
(583
)

$
81    69




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
        and/or
    Balance at January 1, 2007

$
1,519Additions based on tax positions taken during the current year


619Reductions due to lapsing of applicable statute of limitations


(58
)Balance at December 31, 2007

$
2,080    70




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
        Year Ended December 31,2007


2006


2005Tax at federal statutory rate

$
(11,170
)

$
(4,036
)

$
(3,705
)State income taxes, net of federal tax benefit


(515
)


4



(24
)Stock-based compensation


911



871



736Foreign earnings taxed at different rates


8,348



3,169



3,792Change in valuation allowance


862



645



In-process research and development


704







Tax credits


(173
)






(18
)Tax exempt interest income






(33
)


(277
)Other


53



(97
)


261Total provision for (benefit from) income taxes

$
(980
)

$
523


$
765   Note 10.
    Operating
    Segment and Geographic Information        Year Ended December 31,2007


2006


2005China


58
%


82
%


55
%Japan


29
%


6
%


Taiwan


9
%


4
%


13
%Korea


4
%


8
%


32
%Total revenue


100
%


100
%


100
%  71




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  Note 11.
    Legal
    Proceedings    SUPPLEMENTARY
    FINANCIAL DATA
    Quarterly Data (Unaudited)
  First


Second


Third


FourthQuarter


Quarter


Quarter


Quarter(In thousands, except per share data)Year Ended December 31, 2007Revenue

$
13,670


$
9,735


$
9,943


$
6,233Cost of sales

$
12,298


$
8,678


$
8,857


$
6,510Gross profit

$
1,372


$
1,057


$
1,086


$
(277
)Research and development expenses

$
3,361


$
4,478


$
5,390


$
5,370Selling, general and administrative expenses

$
3,224


$
3,608


$
4,318


$
5,233Amortization of purchased intangible assets

$
209


$
627


$
627


$
627In-process research and development

$
1,320


$



$
500


$
650Operating loss

$
(6,742
)

$
(7,656
)

$
(9,749
)

$
(12,157
)Net loss

$
(5,458
)

$
(6,066
)

$
(8,359
)

$
(11,049
)Basic net loss per share

$
(0.19
)

$
(0.21
)

$
(0.29
)

$
(0.38
)Diluted net loss per share

$
(0.19
)

$
(0.21
)

$
(0.29
)

$
(0.38
)Weighted-average number of shares used in basic net loss per
    share calculation


29,329



29,376



28,973



28,813Weighted-average number of shares used in diluted net loss per
    share calculation


29,329



29,376



28,973



28,813   72




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##### Table of Contents



LEADIS
    TECHNOLOGY, INC.
  NOTES TO
    CONSOLIDATED FINANCIAL
    STATEMENTS  (Continued)
  First


Second


Third


FourthQuarter


Quarter


Quarter


Quarter(In thousands, except per share data)Year Ended December 31, 2006Revenue

$
24,057


$
30,936


$
22,312


$
23,903Cost of sales

$
20,395


$
27,848


$
19,443


$
20,820Gross profit

$
3,662


$
3,088


$
2,869


$
3,083Research and development expenses

$
3,635


$
3,394


$
3,797


$
2,970Selling, general and administrative expenses

$
3,659


$
3,864


$
3,316


$
3,946Operating loss

$
(3,632
)

$
(4,170
)

$
(4,244
)

$
(3,833
)Cumulative effect of change in accounting principle, net of tax

$
142


$



$



$
Net loss

$
(2,790
)

$
(3,226
)

$
(2,822
)

$
(3,073
)Basic net loss per share

$
(0.10
)

$
(0.11
)

$
(0.10
)

$
(0.11
)Diluted net loss per share

$
(0.10
)

$
(0.11
)

$
(0.10
)

$
(0.11
)Weighted-average number of shares used in basic net loss per
    share calculation


28,455



28,654



28,935



29,187  73




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##### Table of Contents



ITEM 9.
    CHANGES
    IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
    FINANCIAL DISCLOSURE    ITEM 9A.
    CONTROLS
    AND PROCEDURES  Evaluation
    of disclosure controls and procedures.
  Rule 13a-15, Form 10-K Form 10-K
  Managements
    Annual Report on Internal Control Over Financial
    Reporting.
  Rules 13a-15(f) 15d-15(f). Internal Control  Integrated Framework Internal Control  Integrated Framework Form 10-K.
  Changes
    in internal control over financial reporting.
    Limitations
    on the effectiveness of controls.
   74




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##### Table of Contents



ITEM 9B.
    OTHER
    INFORMATION   PART III  ITEM 10.
    DIRECTORS
    AND EXECUTIVE OFFICERS OF THE REGISTRANT  www.leadis.com. Regulation S-K, Form 8-K.
  ITEM 11.
    EXECUTIVE
    COMPENSATION    ITEM 12.
    SECURITY
    OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
    RELATED STOCKHOLDER MATTERS    ITEM 13.
    CERTAIN
    RELATIONSHIPS AND RELATED TRANSACTIONS    ITEM 14.
    PRINCIPAL
    ACCOUNTANT FEES AND SERVICES   75




---



##### 



PART IV  ITEM 15.
    EXHIBITS    1.
    Consolidated
    Financial Statements:   
 Page NumberReport of Independent Registered Public
    Accounting Firm


43Consolidated Balance Sheets


44Consolidated Statements of Operations


45Consolidated Statements of Cash Flows


46Consolidated Statements of Stockholders
    Equity


47Notes to Consolidated Financial Statements


48    2.
    Exhibits:  Exhibit No.

Description of Document3
.1

Registrants Amended and Restated Certificate of
    Incorporation.(1)3
.2

Amended and Restated Bylaws of Leadis Technology, Inc.(15)4
.1

Reference is made to Exhibits 3.1 and 3.24
.2

Form of Specimen Certificate for Registrants common
    stock.(2)4
.3

Amended and Restated Investor Rights Agreement dated
    August 19, 2002 by and among the Registrant and certain
    holders of the Registrants capital stock.(1)10
.1

Registrants 2000 Stock Incentive Plan and forms of related
    agreements.(1)10
.2

Registrants 2004 Equity Incentive Plan and form of related
    agreement.(1)10
.3

Registrants 2004 Non-Employee Directors Stock Option
    Plan and form of related agreement.(1)10
.4

Registrants 2004 Employee Stock Purchase Plan.(1)10
.5

Form of Indemnity Agreement entered into between the Registrant
    and certain of its officers and directors.(1)10
.6

Employment Agreement with Ken Lee, dated August 15, 2002.(1)10
.7

Employment Agreement with Victor Lee, dated December 3,
    2002.(1)10
.8

Form of Stock Option Grant Notice under the Leadis Technology,
    Inc. 2004 Equity Incentive Plan.(3)10
.9

Form of Stock Option Grant Notice under the Leadis Technology,
    Inc. 2004 Non-Employee Directors Stock Option Plan.(3)10
.10

Form of offering document under the Leadis Technology, Inc. 2004
    Employee Stock Purchase Plan.(16)10
.11

Lease by and between the Registrant and Sunnyvale Business Park,
    dated as of December 23, 2004.(4)10
.12

Framework Agreement by and between Leadis International Limited
    and Philips Electronics Hong Kong Limited  Mobile
    Display Systems, dated December 15, 2004.(4)10
.13

Registrants 2005 Management Bonus Plan.(5)10
.14

Employment Agreement with Chol Chong, dated April 1,
    2005.(6)10
.15

Employment Agreement with Antonio R. Alzarez dated
    November 28, 2005.(7)10
.16

Registrants Non-Employee Director Cash Compensation
    Policy.(8)10
.17

Employment Agreement with Jose Arreola dated January 20,
    2006.(9)10
.18

Lease Contract by and between the Korea Institute of Design
    Promotion and Leadis Technology Korea, Inc., dated as of
    June 30, 2006.(12)10
.19

Registrants 2006 Management Bonus Plan.(10)10
.20

Form of Change of Control Plans for Chief Executive Officer,
    Class I Executives and Class II Executives.(11) 76




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##### Table of Contents



Exhibit No.

Description of Document10
.21

Forms of Phantom Stock Award Grant Notice and Phantom Stock
    Award Agreement under the Leadis Technology, Inc. 2004 Equity
    Incentive Plan.(13)10
.22

First Amendment to Lease Agreement between Leadis Technology,
    Inc. and Sunnyvale Business Park I, LLC, dated
    July 30, 2007.(14)10
.23

Registrants 2007 Management Bonus Plan.(17)10
.24

Registrants 2008 Management Bonus Plan.(18)21
.1

Subsidiaries of the Registrant.(19)23
.1

Consent of PricewaterhouseCoopers LLP, Independent Registered
    Public Accounting Firm.(19)24
.1

Power of Attorney (see signature page).31
.1

Certification of the Registrants Chief Executive Officer,
    as required by Section 302 of the Sarbanes-Oxley Act of
    2002.(19)31
.2

Certification of Registrants Chief Financial Officer, as
    required by Section 302 of the Sarbanes-Oxley Act of
    2002.(19)32
.1

Certification of Registrants Chief Executive Officer, as
    required by Section 906 of the Sarbanes-Oxley Act of 2002.
    (19)(20)32
.2

Certification of Registrants Chief Financial Officer, as
    required by Section 906 of the Sarbanes-Oxley Act of 2002.
    (19)(20)     
    
    Indicates a management contract or compensatory plan or
    arrangement.(1)
    
    Incorporated by reference to the Registrants Registration
    Statement on
    Form S-1
    (File
    No. 333-113880)
    filed on March 24, 2004.(2)
    
    Incorporated by reference to the Registrants Registration
    Statement on
    Form S-1/A
    (File
    No. 333-113880)
    filed on June 14, 2004.(3)
    
    Incorporated by reference to the Registrants Quarterly
    Report on Form
    10-Q for the
    quarter ended September 30, 2004.(4)
    
    Incorporated by reference to the Registrants Annual Report
    on
    Form 10-K
    for the year ended December 31, 2004.(5)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on June 17, 2005.(6)
    
    Incorporated by reference to the Registrants Quarterly
    Report on
    Form 10-Q
    for the quarter ended June 30, 2005.(7)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on December 1, 2005.(8)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on December 8, 2005.(9)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on January 26, 2006.(10)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on March 21, 2006.(11)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on June 14, 2006.(12)
    
    Incorporated by reference to the Registrants Quarterly
    Report on Form
    10-Q for the
    quarter ended June 30, 2006.(13)
    
    Form 10-K
    for year ended December 31, 2006.(14)
    
    Incorporated by reference to the Registrants Quarterly
    Report on Form
    10-Q for the
    quarter ended September 30, 2007.(15)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on September 12, 2007.(16)
    
    Incorporated by reference to the Registrants Quarterly
    Report on Form
    10-Q for the
    quarter ended June 30, 2007.(17)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on March 15, 2007.(18)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on March 12, 2008.(19)
    
    Filed herewith.(20)
    
    The certifications attached as Exhibits 32.1 and 32.2
    accompany this Annual Report on
    Form 10-K
    pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
    and shall not be deemed filed by Leadis Technology,
    Inc. for purposes of Section 18 of the Securities Exchange
    Act of 1934, as amended. 77




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##### Table of Contents



SIGNATURES  Form 10-K
    By:
    /s/  John
    K. Allen  John K. Allen
 Chief Financial Officer and Secretary
  POWER OF
    ATTORNEY
  his/her Form 10-K,
  Form 10-K
  Signature

Title

Date/s/  Antonio
    R. AlvarezAntonio
    R. Alvarez

President, Chief Executive Officer and Director (Principal
    Executive Officer)

March 17, 2008/s/  John
    K. AllenJohn
    K. Allen

Chief Financial Officer and Secretary (Principal Financial and
    Accounting Officer)

March 17, 2008/s/  Keunmyung
    LeeKeunmyung
    Lee

Executive Vice President, Chief Operating Officer and Director

March 17, 2008/s/  Byron
    BynumByron
    Bynum

Director

March 17, 2008/s/  Alden
    Chauvin, Dr.Alden
    Chauvin

Director

March 17, 2008/s/  Kenneth
    GoldmanKenneth
    Goldman

Director

March 17, 2008/s/  Doug
    McburnieDoug
    Mcburnie

Director

March 17, 2008 78




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##### Table of Contents



Signature

Title

Date/s/  James
    PlummerJames
    Plummer

Director

March 17, 2008/s/  Jack
    SaltichJack
    Saltich

Director

March 17, 2008/s/  I-Wei
    WuI-Wei
    Wu

Director

March 17, 2008  79




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##### Table of Contents



EXHIBIT INDEX
  Exhibit No.

Description of Document3
.1

Registrants Amended and Restated Certificate of
    Incorporation.(1)3
.2

Amended and Restated Bylaws of Leadis Technology, Inc.(15)4
.1

Reference is made to Exhibits 3.1 and 3.24
.2

Form of Specimen Certificate for Registrants common
    stock.(2)4
.3

Amended and Restated Investor Rights Agreement dated
    August 19, 2002 by and among the Registrant and certain
    holders of the Registrants capital stock.(1)10
.1

Registrants 2000 Stock Incentive Plan and forms of related
    agreements.(1)10
.2

Registrants 2004 Equity Incentive Plan and form of related
    agreement.(1)10
.3

Registrants 2004 Non-Employee Directors Stock Option
    Plan and form of related agreement.(1)10
.4

Registrants 2004 Employee Stock Purchase Plan.(1)10
.5

Form of Indemnity Agreement entered into between the Registrant
    and certain of its officers and directors.(1)10
.6

Employment Agreement with Ken Lee, dated August 15, 2002.(1)10
.7

Employment Agreement with Victor Lee, dated December 3,
    2002.(1)10
.8

Form of Stock Option Grant Notice under the Leadis Technology,
    Inc. 2004 Equity Incentive Plan.(3)10
.9

Form of Stock Option Grant Notice under the Leadis Technology,
    Inc. 2004 Non-Employee Directors Stock Option Plan.(3)10
.10

Form of offering document under the Leadis Technology, Inc. 2004
    Employee Stock Purchase Plan.(16)10
.11

Lease by and between the Registrant and Sunnyvale Business Park,
    dated as of December 23, 2004.(4)10
.12

Framework Agreement by and between Leadis International Limited
    and Philips Electronics Hong Kong Limited  Mobile
    Display Systems, dated December 15, 2004.(4)10
.13

Registrants 2005 Management Bonus Plan.(5)10
.14

Employment Agreement with Chol Chong, dated April 1,
    2005.(6)10
.15

Employment Agreement with Antonio R. Alzarez dated
    November 28, 2005.(7)10
.16

Registrants Non-Employee Director Cash Compensation
    Policy.(8)10
.17

Employment Agreement with Jose Arreola dated January 20,
    2006.(9)10
.18

Lease Contract by and between the Korea Institute of Design
    Promotion and Leadis Technology Korea, Inc., dated as of
    June 30, 2006.(12)10
.19

Registrants 2006 Management Bonus Plan.(10)10
.20

Form of Change of Control Plans for Chief Executive Officer,
    Class I Executives and Class II Executives.(11)10
.21

Forms of Phantom Stock Award Grant Notice and Phantom Stock
    Award Agreement under the Leadis Technology, Inc. 2004 Equity
    Incentive Plan.(13)10
.22

First Amendment to Lease Agreement between Leadis Technology,
    Inc. and Sunnyvale Business Park I, LLC, dated
    July 30, 2007.(14)10
.23

Registrants 2007 Management Bonus Plan.(17)10
.24

Registrants 2008 Management Bonus Plan.(18)21
.1

Subsidiaries of the Registrant.(19)23
.1

Consent of PricewaterhouseCoopers LLP, Independent Registered
    Public Accounting Firm.(19)24
.1

Power of Attorney (see signature page).31
.1

Certification of the Registrants Chief Executive Officer,
    as required by Section 302 of the Sarbanes-Oxley Act of
    2002.(19)31
.2

Certification of Registrants Chief Financial Officer, as
    required by Section 302 of the Sarbanes-Oxley Act of
    2002.(19) 80




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##### Table of Contents



Exhibit No.

Description of Document32
.1

Certification of Registrants Chief Executive Officer, as
    required by Section 906 of the Sarbanes-Oxley Act of 2002.
    (19)32
.2

Certification of Registrants Chief Financial Officer, as
    required by Section 906 of the Sarbanes-Oxley Act of 2002.
    (19)     
    
    Indicates a management contract or compensatory plan or
    arrangement.(1)
    
    Incorporated by reference to the Registrants Registration
    Statement on
    Form S-1
    (File
    No. 333-113880)
    filed on March 24, 2004.(2)
    
    Incorporated by reference to the Registrants Registration
    Statement on
    Form S-1/A
    (File
    No. 333-113880)
    filed on June 14, 2004.(3)
    
    Incorporated by reference to the Registrants Quarterly
    Report on Form
    10-Q for the
    quarter ended September 30, 2004.(4)
    
    Incorporated by reference to the Registrants Annual Report
    on
    Form 10-K
    for the year ended December 31, 2004.(5)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on June 17, 2005.(6)
    
    Incorporated by reference to the Registrants Quarterly
    Report on Form
    10-Q for the
    quarter ended June 30, 2005.(7)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on December 1, 2005.(8)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on December 8, 2005.(9)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on January 26, 2006.(10)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on March 21, 2006.(11)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on June 14, 2006.(12)
    
    Incorporated by reference to the Registrants Quarterly
    Report on Form
    10-Q for the
    quarter ended June 30, 2006.(13)
    
    Form 10-K
    for year ended December 31, 2006.(14)
    
    Incorporated by reference to the Registrants Quarterly
    Report on Form
    10-Q for the
    quarter ended September 30, 2007.(15)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on September 12, 2007.(16)
    
    Incorporated by reference to the Registrants Quarterly
    Report on Form
    10-Q for the
    quarter ended June 30, 2007.(17)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on March 15, 2007.(18)
    
    Incorporated by reference to the Registrants Current
    Report on
    Form 8-K
    filed on March 12, 2008.(19)
    
    Filed herewith. 81