Rambus Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter and CapEx Guidance for the Full Year of 2018
January 29, 2018 at 09:11 pm
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Rambus Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported total revenue of $101,891,000 compared to $97,559,000 a year ago. Operating income was $15,719,000 compared to $524,000 a year ago. Income before income taxes was $11,564,000 compared to loss of $2,506,000 a year ago. Net loss was $31,767,000 or $0.29 per basic and diluted share compared to $3,445,000 or $0.03 diluted per share a year ago. Non-GAAP operating income was $33,509,000 compared to $30,062,000 a year ago. Non-GAAP income before income taxes was $32,691,000 compared to $28,755,000 a year ago. Non-GAAP net income was $21,249,000 or $0.19 per basic and diluted share compared to $18,691,000 or $0.16 per diluted share a year ago. EBITDA was $29,549,000 compared to $15,194,000 a year ago. Adjusted EBITDA was $36,813,000 compared to $33,639,000 a year ago. Cash flows from operations were $59.8 million compared to $33.3 million a year ago. CapEx was $3.9 million.
For the year, the company reported total revenue of $393,096,000 compared to $336,597,000 a year ago. Operating income was $54,407,000 compared to $33,642,000 a year ago. Income before income taxes was $40,989,000 compared to $22,637,000 a year ago. Net loss was $18,461,000 or $0.17 per basic and diluted share compared to net income of $6,820,000 or $0.06 per basic and diluted share a year ago. Non-GAAP operating income was $124,020,000 compared to $108,787,000 a year ago. Non-GAAP income before income taxes was $119,263,000 compared to $104,531,000 a year ago. Non-GAAP net income was $77,521,000 or $0.68 per diluted share compared to $67,945,000 or $0.60 per diluted share a year ago. Cash flows from operations were $117.4 million compared to $92.5 million a year ago. CapEx was $9.4 million.
For the first quarter of 2018, under ASC 606, the company expects operating loss of $44.5 million to $34.5 million, non-GAAP operating loss of $26.0 million to $16.0 million, loss before income taxes of $48.9 million to $38.9 million, non-GAAP loss before income taxes of $27.7 million to $17.7 million, non-GAAP net loss of $21.1 million to $13.5 million, non-GAAP basic net loss per share of $0.19 to $0.12 and non-GAAP diluted net loss per share of $0.19 to $0.12. For the first quarter of 2018, under ASC 605, the company expects operating income of $8.5 million to $18.5 million, non-GAAP operating income of $27.0 million to $37.0 million, income before income taxes of $4.1 million to $14.1 million, non-GAAP income before income taxes of $25.3 million to $35.3 million, non-GAAP net income of $19.2 million to $26.8 million, non-GAAP basic net income per share of $0.17 to $0.24 and non-GAAP diluted net income per share of $0.17 to $0.23. The company expects depreciation of roughly $3.5 million. The company expects $4 million of CapEx for the first quarter of 2018.
The company expects CapEx to be roughly $9 million for the full year of 2018.
Rambus Inc. is a provider of chips, silicon intellectual property (IP) and innovations that address the fundamental challenges of accelerating data and enabling critical performance improvements for data center and other growing markets. It offers a balanced and diverse portfolio of solutions across chips, silicon IP and patent licensing. Its Rambus Double Data Rate (DDR) memory interface chips for server memory modules enable increased bandwidth and expanded capacity in enterprise and cloud servers. Its portfolio includes DDR5 and DDR4 memory interface chipsets. Its DDR5 chipset solution includes the Registering Clock Driver (RCD), Serial Presence Detect Hubs (SPD Hub) and Temperature Sensors (TS). Rambus Silicon IP includes interface and security IP solutions that move and protect data in advanced data center, government and automotive applications. It sells memory interface chips directly and indirectly to memory module manufacturers and original equipment manufacturers (OEMs).
Rambus Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter and CapEx Guidance for the Full Year of 2018