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Rambus Q1 revenue $72.7 million, down 5 percent

Staff writer ▼ | April 19, 2016
Rambus reported financial results for the first quarter ended March 31, 2016. Revenue was $72.7 million, which was down 5% from Q4 2015 primarily due to lower patent and technology royalty revenue from various customers.
Rambus
Rambus   Lower patent royalty revenue
As compared to the first quarter of 2015, revenue was down slightly primarily due to lower patent royalty revenue, offset by higher revenue from security technology development projects, including revenue from the acquisition of SCS.

Total operating costs and expenses for the first quarter of 2016 were $63.4 million, 12% higher than the previous quarter and 15% higher than the first quarter of 2015.

First quarter operating costs and expenses of $63.4 million included $4.9 million of stock-based compensation expenses, $7.7 million of amortization expenses and $1.8 million of acquisition-related transaction costs.

In comparison, total operating costs and expenses for the fourth quarter of 2015 of $56.4 million included $3.3 million of stock-based compensation expenses, $6.2 million of amortization expenses and $3.6 million of restructuring charges.

Total operating costs and expenses for the first quarter of 2015 were $55.0 million, which included $3.8 million of stock-based compensation expenses and $6.3 million of amortization expenses.

The change in total operating costs and expenses in the first quarter of 2016 as compared to the fourth quarter of 2015 was primarily due to the restructuring charges in the fourth quarter of 2015, higher headcount related costs, acquisition related costs and amortization expense due to the acquisition in 2016, partially offset by lower prototyping costs.

The change in total operating costs and expenses in the first quarter of 2016 as compared to the first quarter of 2015 was primarily attributable to the gain from sale of intellectual property in the first quarter of 2015, higher headcount related costs, acquisition related costs and amortization expense due to the acquisition in 2016.

Net income for the first quarter of 2016 was $1.9 million as compared to net income of $13.0 million in the fourth quarter of 2015 and net income of $9.5 million in the first quarter of 2015.

Diluted net income per share for the first quarter of 2016 was $0.02 as compared to diluted net income per share of $0.11 in the fourth quarter of 2015 and diluted net income per share of $0.08 in the first quarter of 2015, respectively.


 

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