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.