T Rambus Inc.
Consolidated Statements of Operations
(In Thousands, Except Per Share Amounts)
Three Months Ended Year Ended
(unaudited)
Sept. 30, June 30, Sept. 30, Sept. 30, Sept. 30,
1998 1998 1997 1998 1997
Revenues:
Contract revenues $ 7,394 $ 7,535 $ 6,344 $ 28,727 $ 20,186
Royalties 2,269 1,625 1,472 9,137 5,829
--------- -------- -------- --------- --------
Total revenues 9,663 9,160 7,816 37,864 26,015
--------- -------- -------- --------- --------Costs and
expenses: Cost of contract
revenues 2,549 2,490 1,601 8,988 5,491
Research and
development 2,497 2,183 2,935 9,649 9,815
Marketing, general &
administrative 2,802 2,687 2,347 11,260 8,755
--------- -------- -------- --------- --------
Total costs
and expenses 7,848 7,360 6,883 29,897 24,061
--------- -------- -------- --------- --------
Operating income 1,815 1,800 933 7,967 1,954
Other income 1,117 1,018 843 3,361 1,342
--------- -------- -------- --------- --------
Income before
income taxes 2,932 2,818 1,776 11,328 3,296
Provision for
income taxes 1,186 1,123 710 4,540 1,315
--------- -------- -------- --------- --------
Net income $ 1,746 $ 1,695 $ 1,066 $ 6,788 $ 1,981
========= ======== ======== ========= ========
Net income per
share $ 0.08 $ 0.07 $ 0.05 $ 0.30 $ 0.10
========= ======== ======== ========= ========
Net income per share -- assuming
dilution $ 0.07 $ 0.07 $ 0.04 $ 0.28 $ 0.09
========= ======== ======== ========= ========
Shares used in per share calculation:
Basic 22,902 22,797 22,297 22,704 19,548 Assuming
dilution 24,536 24,360 24,274 24,376 21,510
Rambus Inc.
Consolidated Balance Sheets
(In Thousands)
Sept. 30, June 30, Sept. 30,
1998 1998 1997
(unaudited)
ASSETSCurrent assets:
Cash and cash equivalents $ 18,969 $ 27,561 $20,641
Marketable securities 60,742 56,060 51,184
Accounts receivable 1,913 5,575 925
Prepaids and other current assets 10,169 8,310 8,007
--------- --------- --------
Total current assets 91,793 97,506 80,757
Property and equipment, net 3,989 4,254 4,338
Marketable securities, long term 8,357 -- --
Investments 1,251 1,323 986
Other assets 5,597 6,350 1,797
--------- --------- --------
Total assets $110,987 $109,433 $87,878
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LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities:
Accounts payable and other current
liabilities $ 3,428 $ 2,761 $ 6,166
Current portion of capital lease
obligations 130 195 382
Current portion of deferred
revenue 28,617 26,375 24,473
-------- -------- --------
Total current liabilities 32,175 29,331 31,021
Capital lease obligations, less
current portion -- -- 130
Deferred revenue, less current
portion 37,020 41,986 30,066
-------- -------- --------
Total liabilities 69,195 71,317 61,217
-------- -------- --------
Stockholders' equity:
Common stock 23 23 22
Additional paid-in capital 67,617 66,381 59,865
Stockholders' notes receivable -- (680) (680)
Accumulated deficit (25,723) (27,469) (32,511)
Cumulative translation adjustment (125) (139) (35)
-------- -------- --------
Total stockholders' equity 41,792 38,116 26,661
-------- -------- --------
Total liabilities and stockholders'
equity $110,987 $109,433 $87,878
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