Rambus Reports Fourth Quarter and Year-End Financial Results

Press Release Financials     Rambus
  4440 El Camino Real
Los Altos, CA 94022
 
 
Condensed Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)
 

Three Months Ended
December 31,

Twelve Months Ended
December 31,

 

 
  2008     2007     2008     2007  
 
Revenue:
Royalty revenue $ 35,736 $ 36,043 $ 126,910 $ 154,306
Contract revenue   1,877     4,489     15,584     25,634  
Total revenues 37,613 40,532 142,494 179,940
 
Costs and expenses:
Cost of contract revenues (1) 2,892 8,246 21,303 27,124
Research and development (1) 17,174 22,538 76,222 82,877
Marketing, general and administrative (1) 35,700 40,940 124,077 120,597
Restructuring costs (1) 161 - 4,185 -
Impairment of asset - - 2,158 -
Costs (recovery) of restatement and related legal activities   (302 )   826     3,262     19,457  
Total costs and expenses   55,625     72,550     231,207     250,055  
 
 
Operating loss (18,012 ) (32,018 ) (88,713 ) (70,115 )
 
Interest and other income, net   6,835     5,263     17,042     21,759  
 
Loss before income taxes (11,177 ) (26,755 ) (71,671 ) (48,356 )
 
Provision for (benefit from) income taxes   (496 )   (12,197 )   124,252     (20,692 )
 
Net loss $ (10,681 ) $ (14,558 ) $ (195,923 ) $ (27,664 )
 
Net loss per share:
Basic $ (0.10 ) $ (0.14 ) $ (1.87 ) $ (0.27 )
Diluted $ (0.10 ) $ (0.14 ) $ (1.87 ) $ (0.27 )
 
Weighted-Average Shares used in computing per share amounts:
Basic 103,915 104,754 104,574 104,056
Diluted 103,915 104,754 104,574 104,056
 

(1) Total stock-based compensation expense for the three and twelve month periods ended December 31, 2008 and December 31, 2007 are presented as follows:

 

 

Three Months Ended
December 31,

Twelve Months Ended
December 31,

  2008     2007     2008     2007  
 
Cost of contract revenues $ 583 $ 1,841 $ 5,187 $ 5,910
Research and development $ 2,491 $ 6,378 $ 13,488 $ 16,199
Marketing, general and administrative $ 5,593 $ 8,189 $ 18,492 $ 22,701
Restructuring costs $ - $ - $ 547 $ -

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