Trident Microsystems (TRIDQ) 8-K Condensed Consolidated Statements of Operations

Exhibit 99.2

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

In re Trident Microsystems, Inc., et al.1	Case No. 12-10069 (CSS) (Jointly Admin.)
	Reporting Period: January 2012

MONTHLY OPERATING REPORT

REQUIRED DOCUMENTS	Form No.	Document Attached	Explanation Attached	Affidavit / Supplement Attached
Schedule of Cash Receipts and Disbursements	MOR-1	Yes
Bank Reconciliation (or copies of debtor’s bank reconciliations)	MOR-1a	No	Not required per agreement with UST.
Schedule of Professional Fees Paid	MOR-1b	Yes
Copies of bank statements		Yes	Cash balance detail attached per agreement with UST.
Cash disbursements journals		Yes	Summary document only
Statement of Operations	MOR-2	Yes
Balance Sheet	MOR-3	Yes
Status of Postpetition Taxes	MOR-4	No		Yes
Copies of IRS Form 6123 or payment receipt		No		Yes
Copies of tax returns filed during reporting period		No		Yes
Summary of Unpaid Post-petition Debts	MOR-4	Yes
Listing of aged accounts payable	MOR-4	Yes	Summary document only
Accounts Receivable Reconciliation and Aging	MOR-5	Yes	Summary document only
Debtor Questionnaire	MOR-5	Yes

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

Signature of Debtor	Date
Signature of Joint Debtor	Date
/s/ Andrew Hinkelman	2/29/12
Signature of Authorized Individual*	Date
Andrew Hinkelman	Chief Restructuring Officer
Printed Name of Authorized Individual	Title of Authorized Individual

* Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

¹ The Debtors are the following two entities (the last four digits of their respective taxpayer ID numbers, if any, follow in parentheses): Trident Microsystems, Inc. (6584) and Trident Microsystems (Far East) Ltd.

In re Trident Microsystems, Inc., et al.	Case No. 12-10069 (CSS) (Jointly Admin.)
	Reporting Period: January 2012

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

The companies cash reporting systems are based on the calendar week. As a result, cash receipts and disbursements for the period ended January 31, 2012 include activity through week ended January 29, 2012.

TMI - United States	Actuals 1/4/2012 - 1/29/2012			Budget 1/4/2012 - 1/29/2012			Variance 1/4/2012 - 1/29/2012			Actuals Case to Date
Beginning Cash Balance	$	977,445		$	977,505		$	(60	)	$	977,445
Inflows
Trade Receivable	$	561,061		$	489,184		$	71,877		$	561,061
Other Inflows		6,292			5,482			810			6,292
Total Inflows	$	567,353		$	494,666		$	72,687		$	567,353
Outflows
Payroll	$	(1,464,701	)	$	(989,779	)	$	(474,922	)	$	(1,464,701	)
Severance		—			—			—			—
Rent		—			—			—			—
Accounts Payable		(271,500	)		(270,500	)		(1,000	)		(271,500	)
Professional Fees		(118,835	)		(118,800	)		(35	)		(118,835	)
Other Expenses		(482,532	)		(513,580	)		31,048			(482,532	)
Total Outflows	$	(2,337,569	)	$	(1,892,659	)	$	(444,910	)	$	(2,337,569	)
Restructuring Outflows
Professional and Advisory Fees	$	—		$	—		$	—		$	—
Critical Vendor Catch-up		—			—			—			—
Total Outflows	$	—		$	—		$	—		$	—
IC Transfers / Adjustments	$	2,500,000		$	2,020,488		$	479,512		$	2,500,000
Net Change in Cash	$	729,784		$	622,495		$	107,290		$	729,784
Ending Cash Balance	$	1,707,229		$	1,600,000		$	107,229		$	1,707,229

2 MOR-1

In re Trident Microsystems, Inc., et al.	Case No. 12-10069 (CSS) (Jointly Admin.)
	Reporting Period: January 2012

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS

TMFE - Cayman Islands	Actuals 1/4/2012 - 1/29/2012			Budget 1/4/2012 - 1/29/2012			Variance 1/4/2012 - 1/29/2012			Actuals Case to Date
Beginning Cash Balance	$	14,659,170		$	14,658,335		$	835		$	14,659,170
Inflows
Trade Receivable	$	—		$	—		$	—		$	—
Other Inflows		1,000,394			1,000,394			—			1,000,394
Total Inflows	$	1,000,394		$	1,000,394		$	—		$	1,000,394
Outflows
Accounts Payable		(8,365,272	)		(7,878,721	)		(486,551	)		(8,365,272	)
Other Expenses		877			(8,507	)		9,384			877
Total Outflows	$	(8,364,395	)	$	(7,887,228	)	$	(477,167	)	$	(8,364,395	)
Restructuring Outflows	$	—		$	—		$	—		$	—
Professional and Advisory Fees		—			—			—			—
Critical Vendor Catch-up		—			(1,000,000	)		1,000,000			—
Total Outflows	$	—		$	(1,000,000	)	$	1,000,000		$	—
IC Transfers / Adjustments1	$	(1,716,932	)	$	6,452,268		$	(8,169,201	)	$	(1,716,932	)
Net Change in Cash	$	(9,080,933	)	$	(1,434,566	)	$	(7,646,367	)	$	(9,080,933	)
Ending Cash Balance	$	5,578,237		$	13,223,770		$	(7,645,533	)	$	5,578,237

DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES

	TMFE		TMI		TOTAL
Total Disbursements For Calculating U.S. Trustee Quarterly Fees	$	8,364,395	$	2,337,569	$	10,701,963
Less: Transfers To Debtor In Possession Accounts		—		—		—
Plus: Transfers To Non-Debtor Subsidiaries		2,376,389		—		2,376,389
Plus: Estate Disbursements Made By Outside Sources		—		—		—
Total Disbursements For Calculating U.S. Trustee Quarterly Fees	$	10,740,784	$	2,337,569	$	13,078,352

¹  Note amount represents gross transfers out of $2,376,389 offset by transfers into TMFE of $659,457.

3 MOR-1

In re Trident Microsystems, Inc., et al.	Case No. 12-10069 (CSS) (Jointly Admin.)
	Reporting Period: January 2012

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

	Period	Amount		Check		Amount Paid		Year-To-Date
Payee	Covered	Covered	Payor	Number	Date	Fees	Expenses	Fees	Expenses
None paid in January 2012.

4 MOR-1b

In re Trident Microsystems, Inc., et al.	Case No. 12-10069 (CSS) (Jointly Admin.)
	Reporting Period: January 2012

SCHEDULE OF CASH ACCOUNT BALANCES¹

Company	Bank Name	Bank Account #	Book Balance (USD)
Trident Microsystems, Inc.	Bank of America	xxxxxxx-xxx5067	$	(0	)
Trident Microsystems, Inc.	California Bank & Trust MP	xxx-xxx5089		7,889
Trident Microsystems, Inc.	California Bank & Trust Checking	xxx-xxxx8271		1,696,952
Trident Microsystems, Inc.	California Bank & Trust (payroll)	xxx-xxxx8270		(5,434	)
Trident Microsystems, Inc.	E-Trade	xxxx-2507		7,821
Total			$	1,707,229
Company	Bank Name	Bank Account #	Book Balance (USD)
Trident Microsystems (Far East), Ltd.	Bank of America	xxxx-xxxxx-028	$	—
Trident Microsystems (Far East), Ltd.	Bank of America	xxxx-xxxxx-010		—
Trident Microsystems (Far East), Ltd.	Bank of America	xxx-xxxx-036		—
Trident Microsystems (Far East), Ltd.	Bank of America	xxx-xxxx-044		2,711,986
Trident Microsystems (Far East), Ltd.	Bank of America	xxx-xxxx-052		7,619
Trident Microsystems (Far East), Ltd.	Bank of America	xxx-xxxx-060		143,294
Trident Microsystems (Far East), Ltd.	California Bank & Trust - Checkling AC	xxx-xxxx3970		96,080
Trident Microsystems (Far East), Ltd.	California Bank & Trust - Money Plus	xxx-xxx3709		2,619,258
Trident Microsystems (Far East), Ltd.	Bank of America	xxxxxxx-xxx5059		—
Total			$	5,578,237

¹  Schedule reflects book balance at each Debtor as of January 29, 2012.

BANK RECONCILIATIONS

Bank reconciliations have been prepared for each account listed above and can be provided upon request.

/s/ Andrew Hinkelman	2/29/12
Andrew Hinkelman	Date
Chief Restructuring Officer

5 MOR-1b

In re Trident Microsystems, Inc., et al.	Case No. 12-10069 (CSS) (Jointly Admin.)
	Reporting Period: January 2012

STATEMENT OF OPERATIONS

	TMFE						TMI
	January 2012			Cumulative Filing to Date			January 2012			Cumulative Filing to Date
Gross Revenue
Third Party	$	97,222		$	97,222		$	238,973		$	238,973
Affiliates		8,868,469			8,868,469			4,880,514			4,880,514
Net Revenues	$	8,965,691		$	8,965,691		$	5,119,487		$	5,119,487
Cost of Revenues
Third Party through TMHK	$	8,138,074		$	8,138,074		$	429,301		$	429,301
Affiliates		10,410,395			10,410,395			—			—
Total Cost of Revenues	$	18,548,469		$	18,548,469		$	429,301		$	429,301
Gross Profit	$	(9,582,777	)	$	(9,582,777	)	$	4,690,186		$	4,690,186
Research and development expenses	$	1,162,715		$	1,162,715		$	2,305,821		$	2,305,821
Selling, general and administrative expenses		1,717			1,717			3,910,613			3,910,613
Insider Compensation*		—			—			94,342			94,342
Restructuring Charges		—			—			(21,000	)		(21,000	)
Total operating expenses		1,164,432			1,164,432			6,289,775			6,289,775
Income (loss) from operations	$	(10,747,210	)	$	(10,747,210	)	$	(1,599,589	)	$	(1,599,589	)
Interest and other income (expense), net (see detail)		(217,512	)		(217,512	)		3,336			3,336
Income (loss) before income taxes	$	(10,964,721	)	$	(10,964,721	)	$	(1,596,254	)	$	(1,596,254	)
Provision for (benefit from) income taxes		129			129			—			—
Net Income (Loss) Before Reorganization Items	$	(10,964,850	)	$	(10,964,850	)	$	(1,596,254	)	$	(1,596,254	)
REORGANIZATION ITEMS
Professional Fees	$	—		$	—		$	—		$	—
U.S. Trustee Quarterly Fees		—			—			—			—
Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet)		—			—			—			—
Gain (Loss) from Sale of Equipment		—			—			—			—
Other Reorganization Expenses (see detail)		—			—			—			—
Total Reorganization Expenses	$	—		$	—		$	—		$	—
Net Profit (Loss)	$	(10,964,850	)	$	(10,964,850	)	$	(1,596,254	)	$	(1,596,254	)
BREAKDOWN OF “OTHER” CATEGORIES
Interest and other income (expense), net
Realized Forex Gain/Loss	$	8,580		$	8,580		$	—		$	—
Unrealized Forex Gain/Loss		(96,651	)		(96,651	)		—			—
Other Income		25,313			25,313			3,329			3,329
Interest Expenses		(196,760	)		(196,760	)		—			—
Currency Remeasurement Adj.		41,489			41,489			—			—
Interest Earned		518			518			6			6
Total	$	(217,512	)	$	(217,512	)	$	3,336		$	3,336

Note: The financial statements presented above are based on the Debtors’ preliminary results and may be revised based on final closing entries and review procedures.

* “Insider” is defined in 11 U.S.C. Section 101(31).

6 MOR-2

In re Trident Microsystems, Inc., et al.	Case No. 12-10069 (CSS) (Jointly Admin.)
	Reporting Period: January 2012

BALANCE SHEET

	TMFE						TMI
	January 2012			Cumulative Filing to Date			January 2012			Cumulative Filing to Date
ASSETS
Current assets
Cash and cash equivalents	$	5,584,167		$	5,584,167		$	452,192		$	452,192
Accounts receivable, net		7,525,313			7,525,313			777,703			777,703
Accounts receivable from related parties		1,996,988			1,996,988			234,787			234,787
Inventory		10,522,235			10,522,235			—			—
Note receivable from related party		20,884,003			20,884,003			—			—
Prepaid expenses and other current assets		10,812,109			10,812,109			1,158,498			1,158,498
Total current assets	$	57,324,815		$	57,324,815		$	2,623,180		$	2,623,180
Property and equipment, net	$	371,636		$	371,636		$	2,102,627		$	2,102,627
Intangible Assets, net		41,330,419			41,330,419			—			—
Affiliates Receivable		50,142,444			50,142,444			98,543,604			98,543,604
Other Non-current Assets (see detail)		72,998,092			72,998,092			198,408,481			198,408,481
Total Assets	$	222,167,406		$	222,167,406		$	301,677,892		$	301,677,892
LIABILITIES AND OWNER EQUITY
LIABILITIES NOT SUBJECT TO COMPROMISE
Accounts Payable	$	1,130,065		$	1,130,065		$	167,714		$	167,714
Taxes Payable		44,675			44,675			—			—
Wages Payable		—			—			—			—
Notes Payable		—			—			—			—
Rent/Leases – Building/Equipment		—			—			—			—
Secured Debt/Adequate Protection Payments		—			—			—			—
Professional Fees		—			—			—			—
Affiliates Payable		9,306,877			9,306,877			340,371			340,371
Amounts Due to Insiders*		1,288,062			1,288,062			—			—
Other Post-petition Liabilities (see detail)		8,931,285			8,931,285			1,431,071			1,431,071
TOTAL POST-PETITION LIABILITIES	$	20,700,965		$	20,700,965		$	1,939,155		$	1,939,155
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
Secured Debt	$	—		$	—		$	—		$	—
Priority Debt		—			—			1,183,364			1,183,364
Unsecured Debt		179,527,378			179,527,378			36,123,173			36,123,173
TOTAL PRE-PETITION LIABILITIES	$	179,527,378		$	179,527,378		$	37,306,536		$	37,306,536
TOTAL LIABILITIES	$	200,228,343		$	200,228,343		$	39,245,692		$	39,245,692
OWNER EQUITY
Capital Stock	$	1,282		$	1,282		$	(197,998	)	$	(197,998	)
Additional Paid-In Capital		171,714,557			171,714,557			356,755,746			356,755,746
Retained Earnings – Pre-Petition		(138,770,437	)		(138,770,437	)		(88,344,928	)		(88,344,928	)
Retained Earnings – Post-petition		(11,006,339	)		(11,006,339	)		(5,780,620	)		(5,780,620	)
NET OWNER EQUITY		21,939,063			21,939,063			262,432,200			262,432,200
TOTAL LIABILITIES AND OWNERS EQUITY	$	222,167,406		$	222,167,406		$	301,677,892		$	301,677,892

Note: The financial statements presented above are based on the Debtors’ preliminary results and may be revised based on final closing entries and review procedures.

* “Insider” is defined in 11 U.S.C. Section 101(31).

7 MOR-3

In re Trident Microsystems, Inc., et al.	Case No. 12-10069 (CSS) (Jointly Admin.)
	Reporting Period: January 2012

BALANCE SHEET

	TMFE						TMI
	January 2012			Cumulative Filing to Date			January 2012			Cumulative Filing to Date
BREAKDOWN OF “OTHER” CATEGORIES
PREPAID EXPENSES AND OTHER CURRENT ASSETS
Deferred Tax Asset	$	—		$	—		$	301,133		$	301,133
Prepaid Income Taxes		—			—			(1,910,771	)		(1,910,771	)
Other Prepaid & Receivables		7,905,090			7,905,090			2,768,136			2,768,136
VAT Receivable		2,907,019			2,907,019			—			—
Total	$	10,812,109		$	10,812,109		$	1,158,498		$	1,158,498
OTHER NON-CURRENT ASSETS
Deferred Taxes Non-Current	$	—		$	—		$	(2,629,465	)	$	(2,629,465	)
Other Deferred Charges		2			2			—			—
Long Term Equity Investments		807,259			807,259			—			—
Investment in Subsidiaries		55,342,382			55,342,382			200,504,592			200,504,592
Other Non-Current Assets		16,848,448			16,848,448			533,355			533,355
	$	72,998,092		$	72,998,092		$	198,408,481		$	198,408,481
OTHER POSTPETITION LIABILITIES
Accrued Employee Expense	$	—		$	—		$	(245,713	)	$	(121,458	)
Customer Prepaid		(1,472,222	)		(1,472,222	)		(5,489	)		(5,489	)
Accrued NRE		(29,636	)		(29,636	)		(1,166,952	)		(1,166,952	)
Accrued Royalties		(232,114	)		(232,114	)		—			—
Other Accrued Expenses	��	(249,935	)		(249,935	)		—			—
Accrued VAT		(44,675	)		(44,675	)		—			—
Other Liabilities		(4,425	)		(4,425	)		(12,917	)		(12,917	)
Deferred Margin		(6,898,279	)		(6,898,279	)		—			—
Total	$	(8,931,285	)	$	(8,931,285	)	$	(1,431,071	)	$	(1,306,815	)

Note: The financial statements presented above are based on the Debtors’ preliminary results and may be revised based on final closing entries and review procedures.

8 MOR-3

In re Trident Microsystems, Inc., et al.	Case No. 12-10069 (CSS) (Jointly Admin.)
	Reporting Period: January 2012

STATUS OF POSTPETITION TAXES

I hereby certify that: (1) all state and federal postpetition taxes and estimates due and owing for the period of January 2012 for Trident Microsystems, Inc. and Trident Microsystems (Far East) Ltd. have been paid, (2) all state and federal tax returns for the period of January 2012 have been duly completed and submitted on behalf of Trident Microsystems, Inc. and Trident Microsystems (Far East) Ltd. or (3) to the extent that any payments have not been made or tax returns have not been submitted an extension has been obtained from the appropriate state or federal agency.

/s/ Andrew Hinkelman	2/29/12
Andrew Hinkelman	Date
Chief Restructuring Officer

SUMMARY OF UNPAID POSTPETITION DEBTS

	Number of Days Past Due
Trident Microsystems, Inc. (TMI)	Current		0-30		31-60		61-90		Over 90		Total
Accounts Payable	$	167,714	$	—	$	—	$	—	$	—	$	167,714
Wages Payable				—		—		—		—		—
Taxes Payable		—		—		—		—		—		—
Rent/Leases-Building		—		—		—		—		—		—
Secured Debt/Adequate Protection Payments		—		—		—		—		—		—
Professional Fees		—		—		—		—		—		—
Affiliates Payable		—		—		—		—		—		—
Amounts Due to Insiders*		—		—		—		—		—		—
Other Accrued Payable		—		—		—		—		—		—
Total Postpetition Debts	$	167,714	$	—	$	—	$	—	$	—	$	167,714
	Number of Days Past Due
Trident Microsystems (Far East), Ltd.	Current		0-30		31-60		61-90		Over 90		Total
Accounts Payable	$	1,130,065	$	—	$	—	$	—	$	—	$	1,130,065
Wages Payable		—		—		—		—		—		—
Taxes Payable		44,675		—		—		—		—		44,675
Rent/Leases-Building		—		—		—		—		—		—
Secured Debt/Adequate Protection Payments		—		—		—		—		—		—
Professional Fees		—		—		—		—		—		—
Affiliates Payable		9,306,887		—		—		—		—		9,306,887
Amounts Due to Insiders*		1,288,062		—		—		—		—		1,288,062
Other Accrued Payable		8,886,611		—		—		—		—		8,886,611
Total Postpetition Debts	$	20,656,300	$	—	$	—	$	—	$	—	$	20,656,300

Explain how and when the Debtor intends to pay any past-due postpetition debts:

All postpetition debts are current as of January 31, 2012.

* “Insider” is defined in 11 U.S.C. Section 101(31).

9 MOR-4

In re Trident Microsystems, Inc., et al.	Case No. 12-10069 (CSS) (Jointly Admin.)
	Reporting Period: January 2012

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING

	TMI		TMFE
Accounts Receivable Reconciliation
Total Accounts Receivable at the beginning of the reporting period	$	1,549,448	$	2,996,988
+ Amounts billed during the period		5,119,487		8,965,691
- Amounts collected during the period		5,656,446		2,440,378
Total Accounts Receivable at the end of the reporting period	$	1,012,490	$	9,522,301
Accounts Receivable Aging
0 - 30 days old	$	745,523	$	9,522,301
31 - 60 days old		32,180		—
61 - 90 days old		—		—
91+ days old		238,725		—
Total Accounts Receivable	$	1,016,427	$	9,522,301
Amount considered uncollectible (Bad Debt)		3,938		—
Accounts Receivable (Net)	$	1,012,490	$	9,522,301

DEBTOR QUESTIONNAIRE

	Yes	No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.		X
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.		X
3. Have all postpetition tax returns been timely filed? If no, provide an explanation below.	X
4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below.	X
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.		X

10 MOR-4