From Yahoo Poster:
"Due to an incorrect article in "Electronic News", RMBS has declined
sharply this morning. The article states that the
anticipated Markman ruling in the Rambus vs. Infineon trial in Virginia
has been issued. Our check with the clerk of the
court suggests that no ruling has been issued yet. However, we expect a
ruling to be issued soon, and it could
potentially happen later today.
One of the key issues involved in the Markman hearing is the definition
of "bus", and we have stated that a narrow
interpretation by the court would make it more difficult for Rambus to
prevail in the actual trial (see our EBS issued on
3/1). However, since there are 4 patents and 57 claims that will be
dealt with in the trial, a narrow ruling in the
Markman hearing does not destroy Rambus' ability to prevail on other
claims that do not relate to the "bus".
The jury trial is expected to begin on 3/20, and is expected to last
several weeks. While Rambus will continue to collect
royalties on the Rambus DRAM shipments made by its licensees, SDRAM and
DDR royalties from Samsung, Toshiba, Elpida,
etc... account for about half of our fiscal 2002 earnings estimate of
$0.65 per share. In addition, they account for
1/2-2/3 of our long-term earnings-power estimates. Therefore, we
continue to believe that success in the upcoming trials
with Infineon, Micron, and Hyundai are critical to our long-term
investment thesis on RMBS." |
