Rambus Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2011
January 26, 2012 at 09:05 pm
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Rambus Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, the company's total revenue was $83.359 million as compared to $90.921 million a year ago. Net loss was $28.716 million or $0.26 per diluted share as compared to net income of $33.084 million or $0.29 per diluted share in the same quarter of 2010. Operating loss was $18.134 million as compared to operating income of $42.883 million in the same quarter of 2010. Loss before income taxes was $24.408 million against income before income taxes of $37.701 million a year ago. Non-GAAP operating income was $18.094 million against $52.479 million a year ago. Non-GAAP income before income taxes was $15.116 million against $50.131 million a year ago. Non-GAAP net income was $9.674 million or $0.08 per diluted share as compared to net loss of $32.084 million or $0.28 per diluted share in the same quarter of 2010. Cash from operations was $35 million. As compared to the fourth quarter of 2010, revenue was down 8% primarily due to a one-time recognition of royalty revenue during the fourth quarter of 2010 from a licensing agreement with Elpida.
For the year, the company's total revenue was $312.363 million against $323.390 million a year ago. Net loss was $43.053 million or $0.39 per diluted share as compared to a net income of $150.917 million or $1.30 per diluted share for the same period of 2010. Operating loss was $1.536 million as compared to operating income of $226.882 million in the same quarter of 2010. Loss before income taxes was $25.801 million against income before income taxes of $208.044 million a year ago. Non-GAAP operating income was $84.004 million as compared to $266.686 million in the same period of 2010. Non-GAAP income before income taxes was $72.361 million against $258.923 million a year ago. Non-GAAP net income was $46.301 million or $0.41 per diluted share as compared to $165.711 million or $1.43 per diluted share in the same period of 2010. Revenue for the year down 3% over the same period of last year, primarily due to the one-time recognition of royalty revenue from the settlement agreement signed with Samsung in 2010 which was partially offset by the revenue recognized from licensing agreements with NVIDIA, Broadcom, Freescale and a major smartphone and tablet manufacturer in 2011.
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. 
