Rambus Reports Fourth Quarter And Fiscal Year 2019 Financial Results

 

Rambus Inc.

Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)



Three Months Ended
December 31,


Year Ended
December 31,


2019


2018


2019


2018



Revenue:








Royalties

$

19,434



$

45,430



$

90,785



$

130,452


Product revenue

26,600



11,537



72,972



38,690


Contract and other revenue

13,913



11,596



60,270



62,059


Total revenue

59,947



68,563



224,027



231,201


Operating costs and expenses:








Cost of product revenue (1)

9,311



4,367



27,156



18,299


Cost of contract and other revenue

5,265



6,239



24,219



35,402


Research and development (1)

36,820



37,395



156,815



158,339


Sales, general and administrative (1)

24,872



24,768



104,116



103,911


Restructuring charges (recoveries)

4,588



(6)



8,821



2,217


Impairment (recovery) of assets held for sale

(7,698)





7,439




Total operating costs and expenses

73,158



72,763



328,566



318,168


Operating loss

(13,211)



(4,200)



(104,539)



(86,967)


Interest income and other income (expense), net

6,263



7,248



27,375



32,621


Interest expense

(2,550)



(3,251)



(9,852)



(16,282)


Interest and other income (expense), net

3,713



3,997



17,523



16,339


Loss before income taxes

(9,498)



(203)



(87,016)



(70,628)


Provision for income taxes

34



1,815



3,403



87,329


Net loss

$

(9,532)



$

(2,018)



$

(90,419)



$

(157,957)


Net loss per share:








Basic

$

(0.09)



$

(0.02)



$

(0.81)



$

(1.46)


Diluted

$

(0.09)



$

(0.02)



$

(0.81)



$

(1.46)


Weighted average shares used in per share calculation








Basic

111,883



108,826



110,948



108,450


Diluted

111,883



108,826



110,948



108,450




























(1) Total stock-based compensation expense for the three months and years ended December 31, 2019 and 2018 are presented as follows:












Three Months Ended
December 31,


Year Ended
December 31,


2019


2018


2019


2018

Cost of product revenue

$



$

1



$

4



$

8


Research and development

$

1,756



$

2,920



$

11,032



$

12,582


Sales, general and administrative

$

3,063



$

3,224



$

15,440



$

9,146



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