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Non-Tech : EARNINGS REPORTING - surprises, misses & more
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To: 2MAR$ who wrote (149)7/23/2000 4:21:15 AM
From: 2MAR$  Read Replies (1) of 762
 
7/18...RMBS Q3 earnings double, meet expectations
(UPDATE: Adds details)

MOUNTAIN VIEW, Calif., July 18 (Reuters) - Rambus Inc. (NasdaqNM:RMBS - news), a developer of technology to speed the performance of memory chips, said on Tuesday its third-quarter earnings doubled over the year earlier.

Earnings per share climbed to four cents for the fiscal third quarter from two cents a year ago. Revenues for the quarter rose 67 percent from the prior year to $17.8 million.

The result was in line with analysts' forecasts of four cents a share compiled by First Call/Thomson Financial.

Rambus said that the third-quarter results included a record $6.6 million in royalties received from licensees based on shipments of Rambus chips in the January-March period. The company said that its licensing fees surged by 265 percent from the year-ago quarter and by 88 percent over the previous one.

The company said that it expects additional royalty gains in the quarter ahead due to agreements with Hitachi Ltd. and Toshiba Corp. over the use of its technology. Both agreements call for up-front payments and quarterly royalties which will start to show up in the next quarter, Rambus said.

Excluding acquisition-related costs and one-time employee compensation expenses taken in the previous quarter, operating income for the third quarter was $6.0 million, compared to $2.1 million in the same period last year. Net income, using that same method of calculation, rose to a record $4.8 million, up 138 percent from $2 million last year.
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