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

To: Bid Buster who wrote (89141)	4/15/2004 12:46:51 PM
From: Don Green	Read Replies (1) \| Respond to of 93625

Rambus Sales Come Up Short By Ronna Abramson TheStreet.com Staff Reporter 4/15/2004 12:10 PM EDT URL: thestreet.com Updated from 9:53 a.m. EDT Late Wednesday, Rambus (RMBS:Nasdaq) reported a 16% jump in first-quarter sales and a nearly 63% increase in profit, thanks to a one-time gain. But the firm's top-line results still fell slightly short of analyst expectations. Shares of Rambus were recently down $2.70, or 9.5%, to $25.73. Under generally accepted accounting principles, Rambus reported net income of $8.3 million, or 7 cents a share, in the first quarter, including a $2.1 million after-tax gain on an investment sale. That compared with net income of $5.1 million, or 5 cents a share, in the same period a year earlier and beat by a penny the average of two analyst estimates gathered by Thomson First Call. Revenue totaled $32.5 million in the first quarter, up 16% from a year ago and up 1% from the previous quarter but modestly shy of the $32.9 million consensus estimate. The company's guidance called for revenue in the range of $32 million to $35 million. American Technology Research analyst Erach Desai figured that the one-time gain in the first-quarter was worth a penny, so Rambus' bottom-line results were actually inline with estimates. Overall, Desai called the earnings and guidance "lackluster," which could help explain Thursday's selloff. "This stock doesn't trade on near-term fundamentals," Desai noted. "The stock trades on legal events," and there are no legal catalysts until at least June, when a retrial of Rambus' patent litigation suit against semiconductor company Infineon (IFR:NYSE) begins. That adds up to a "good reason to sell off on an ugly market day," added Desai, who has a buy rating on Rambus. (His firm doesn't have an investment banking arm.) Looking further out, if Rambus succeeds in court in winning royalties from more chipmakers, the firm's earnings could skyrocket to $1.40 in 2005 and $1.70 in 2006 from about 25 cents this year, Desai said. Rambus licenses technology used in memory chips, but often attracts more attention for its legal fights. Earlier this year the company scored one legal coup when an administrative law judge overturned government antitrust allegations dating back to the early 1990s. The case centered on a special type of computer memory Rambus developed in the early 1990s and whether the company abused its position on a standards-setting panel to enhance the market for its patented technology. Total costs and expenses in the first quarter jumped 12% from the previous quarter primarily because of a $1.9 million increase in litigation costs.

To: Bid Buster who wrote (89141)	4/15/2004 3:35:08 PM
From: im a survivor	Read Replies (1) \| Respond to of 93625

<<10:48 AM RMBS Earnings buoy tech stocks LMAO! found this in the news link in my brokerage acct...source was CBS market watch...Seems they pulled the story...To bad, its a keeper -g- >> LOL.....so todays wonderful gains are attributed to RMBS??!!...Wow, I would hate to see what would have happened had RMBS disappointed <g> Seriously though....I looked thru the numbers...didnt have much time, so I very well could be missing something, and if so, somebody feel free to correct me......on the surface the numbers looked very nice.....but from the looks of things it looks like they are including as revenue, some assets they sold....take those numbers away and it doesn't look as rosey to me...am I missing something?? Well, looks like the street isnt too happy..not only with rmbs, but just in general....but rmbs getting whacked pretty hard........I'd like to recalculate the numbers and remove all 'legal expenses'...just to see what it would look like if they werent spending all their money on lawyers......I just dont see them in court forever, so eventually, I would think the legal fees would be greatly reduced in the future...... Question to the longs that were screaming we were all idiots for not buying at $33 - $36 a share...and lets be real here people...many longs were SCREAMING we were losers, and we lost and we were missing out and we were idiots for not buying in the mid $30's.......R U Longs putting your money where your mouth is and buying now in the mid $20's? R those of us that passed in the mid $30's still losers for not buying and those that bought in the mid $30's still winners........?? Well, all I know is if you guys are so sure rmbs is going to fly to the moon and if you were happy buying at $35, I would hope you all are taking advantage of these discounted prices......... Anyway, good luck to the longs.....