Rambus High on Contract Revenue
Online staff -- Electronic News, 1/15/2004
Rambus Inc. added to the floods of positive Q4 reports, today announcing that on a 234 percent jump in contract revenue, the interface player saw increases in earnings per share, net income and revenue.
In the closing quarter of 2003, earnings per share were 8 cents, compared to 6 cents in the 2002 period and 5 cents in the previous quarter. Net income for the December quarter was $8.6 million, compared to $5.5 million in the 2002 period and $5 million in the previous quarter. Revenue for the quarter was $32.4 million, up 26 percent year-over-year and up 13 percent sequentially.
"Rambus had excellent performance and delivered on a number of important customer commitments throughout the fourth quarter," said Geoff Tate, CEO of Rambus, said in a statement. "We were pleased with Toshiba's announcement that samples of their XDR DRAM chip are now available. Our PCI Express IP solutions continue to gain momentum in the marketplace. Finally, we completed the acquisition of high speed signaling assets from Velio, which we expect will enable even more solutions for customers in the future. The transaction with Velio also allowed us to hire 14 high-caliber employees with solid experience who will continue working on product development."
Besides the results reflecting $4.6 million in contract revenues, which were also up 15 percent from the previous quarter, December's quarterly results include $27.8 million in royalties and a 51 percent decrease in litigation costs. |
