Rambus Reports First Quarter Financial Results

RMBSFN

Rambus Inc.

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

   

 

March 31,
2016

December 31,
2015

ASSETS
 
Current assets:
Cash and cash equivalents $ 136,629 $ 143,764
Marketable securities 88,943 143,942
Accounts receivable 14,617 16,408
Prepaids and other current assets 13,017   11,476
Total current assets 253,206 315,590
Intangible assets, net 114,325 64,266
Goodwill 163,805 116,899
Property, plant and equipment, net 56,403 56,616
Deferred taxes, long-term 160,464 162,485
Other assets 4,622   2,165
Total assets $ 752,825   $ 718,021
 
LIABILITIES & STOCKHOLDERS’ EQUITY
 
Current liabilities:
Accounts payable $ 4,874 $ 4,096
Accrued salaries and benefits 8,432 12,278
Other current liabilities 26,809   11,992
Total current liabilities 40,115 28,366
Long-term liabilities:
Convertible notes, long-term 121,069 119,418
Long-term imputed financing obligation 38,496 38,625
Other long-term liabilities 18,424   5,079
Total long-term liabilities 177,989   163,122
Total stockholders’ equity 534,721   526,533
Total liabilities and stockholders’ equity $ 752,825   $ 718,021

Rambus Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

 

 

Three Months Ended
March 31,

2016   2015
 
Revenue:
Royalties $ 62,877 $ 66,963
Contract and other revenue 9,805   5,951  
Total revenue 72,682   72,914  
Operating costs and expenses:
Cost of revenue (1) 12,207 10,756
Research and development (1) 28,527 28,534
Sales, general and administrative (1) 23,095 18,502
Gain from sale of intellectual property (2,260 )
Gain from settlement (441 ) (510 )
Total operating costs and expenses 63,388   55,022  
Operating income 9,294 17,892
Interest income and other income (expense), net 242 132
Interest expense (3,141 ) (3,083 )
Interest and other income (expense), net (2,899 ) (2,951 )
Income before income taxes 6,395 14,941
Provision for income taxes 4,517   5,439  
Net income $ 1,878   $ 9,502  
Net income per share:
Basic $ 0.02   $ 0.08  
Diluted $ 0.02   $ 0.08  
Weighted average shares used in per share calculation
Basic 109,733   115,336  
Diluted 112,252   117,442  

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