Rambus Reports Third Quarter Financial Results

Quarterly revenue up 216% year-over-year; 51% quarter over quarter

Quarterly revenue of $100.3 million; non-GAAP customer licensing income of $91.6 million

GAAP diluted income per share of $0.00; non-GAAP diluted income per share of $0.12

Signed Differential Power Analysis patent license agreement with major smartphone and tablet manufacturer

Verimatrix licensed CryptoFirewall™ core for Pay TV solutions

Rambus Labs brings on Dr. David Stork, a computational sensing and imaging expert




Rambus Inc. (NASDAQ:RMBS), one of the world’s premier technology licensing companies, reported financial results for the third quarter ended September 30, 2011.

Revenue for the third quarter of 2011 was $100.3 million, up 51% sequentially from the second quarter of 2011 primarily due to the recognition of royalties from new licensing agreements signed in the second and third quarter of 2011. As compared to the third quarter of 2010, revenue was up 216% primarily due to the revenue recognized from agreements signed since the third quarter of 2010. Revenue for the nine months ended September 30, 2011 was $229.0 million, down 2% over the same period of last year, due to the recognition during the first quarter of 2010 of revenue from the settlement agreement signed with Samsung Electronics Co., Ltd. (“Samsung”), partially offset by the revenue recognized from agreements signed since the third quarter of 2010.

Total operating costs and expenses for the third quarter of 2011 were $89.5 million, which included general litigation expenses of $23.5 million, $7.2 million of stock-based compensation expenses and retention bonuses and amortization expenses related to the acquisition of Cryptography Research Inc. (“CRI”) of $12.7 million. This is compared to total operating costs and expenses for the second quarter of 2011 of $68.7 million, which included general litigation expenses of $11.5 million, $7.0 million of stock-based compensation expenses and CRI related deal costs, retention bonuses and amortization expenses of $8.4 million. Total operating costs and expenses in the third quarter of 2010 were $43.2 million, which included general litigation expenses of $4.6 million, $7.5 million of stock-based compensation expenses and gain from the Samsung settlement of $10.3 million.

Rambus is one of the world’s premier technology licensing companies. As a company of inventors, Rambus focuses on the development of technologies that enrich the end-user experience of electronic systems.

Additional information is available at www.rambus.com.

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