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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: jim kelley who wrote (64161)	1/11/2001 5:33:50 PM
From: Pat Hughes	Read Replies (1) \| Respond to of 93625

Good report for this environment. The balance sheet is getting stronger and stronger. Lots of cash, great future. The Bus rolls on. Adding to my position. Later!

To: jim kelley who wrote (64161)	1/11/2001 5:34:26 PM
From: GVTucker	Read Replies (1) \| Respond to of 93625

Most everyone was expecting RMBS to exceed the published numbers. It was a miss.

To: jim kelley who wrote (64161)	1/11/2001 5:36:40 PM
From: Jim Cash	Respond to of 93625

FWIW... Bottom Line..... I did not come away from that call wanting to buy more stock in the aftermarket... More expenses this quarter and in addition we have a Weak DRAM price climate... I can not see any upgrades off of this call and downgrades are possible... Damn...

To: jim kelley who wrote (64161)	1/11/2001 5:40:24 PM
From: Islander	Read Replies (1) \| Respond to of 93625

Unfortunately a miss is a miss. Down over 6 bucks from the high in AH says it's a miss. Too many questions unanswered from royalties to tax implications.

To: jim kelley who wrote (64161)	1/11/2001 5:47:54 PM
From: Barry Grossman	Read Replies (1) \| Respond to of 93625

Here's my quick and dirty conference call notes: Harmon: summary and analysis of the results for the quarter We are now at a $140M annual run rate on revs 1yr ago cont rev 78% of total current is now 77% royalties royalties are from RDRAM and SDRAM produced by DRAM liscensees included are for the 1st time are sdram ROYALTIES FROM Samsung and Mitsubishi Contract revs went from 7.9M vs 7M 1.5M recognized from cancellation of a contract op expenses only inreased 19% 57% op margin for the q in the q exp shifted to r&d from cost of revs expenses: 60% r&D 40% cost of revs litigation exp is driving the administration exp and in 1st q they will rise because several will go to trial and increase this expense i the next q Earned .12/sh diluted even after changing the tax rate and 220k of acquisition related costs Woul;d have been +.01 if no change in tax rate Cash bal inc by 12M to 144M in cash Tate: Re current state of rambus business Established as most profitable in the semi area "RDRAM has become the mainstream standard" 150 systems now contain RDRAMof which 130 are pc systems now Significant progress has been made and is being made in other areas eg the Sony PS2 & RDRAM digital tvs & set-top boxes introduced in Japan Increased production of RDRAM is happening because of P4 and 850 chipset. "We are seeing a strong ramp" Elpida also signed this q - Now 7 liscensees are paying royalties and they have 45% share of w/w dram mkt and are the largest logic producers. In the current actions we brought several are scehduled for trial this q: Infineon in VA - 3/13 jury trial scheduled Infineaon in Germany was set for Dec 00 but now trial is set for 5/01 with new judge Hyundai and Mu both sued RMBS Hyundai was countersued by Rambus and set for a 2/16 trial in Germany MU Delaware trial in October MU countersued by RMBS and German trial set for same day as Hyundai trial in the same court In our opinion there has been nothing in any of these actions that ...yadda yadda yadda

To: jim kelley who wrote (64161)	1/11/2001 6:15:45 PM
From: Dave B	Read Replies (2) \| Respond to of 93625

Where's multicollinearity when you need him? At some point in the future, given the estimates of sales by DRAM type by quarter by company, and given the royalties RMBS receives, I would think that we should be able to run a linear programming model (or regression model, whichever is correct, and which is why I don't do this for a living) that backs out the individual royalty rates by company by product type. We probably only need 12 or 15 quarters of information, at which time it'll all be moot anyway <G>. And, of course, this assumes the royalty rates don't change over time. Ahh, forget I brought it up. <G> Dave