Acacia Research Q3 Net Loss Widens, Revenue Halves; Stock Plunges - Quick Facts

(RTTNews) - Acacia Research Corp. (ACTG) reported that its third quarter GAAP net loss widened to $15.71 million or $0.33 per share from $6.62 million or $0.14 per share in the comparable prior year quarter.

Non-GAAP net income for the quarter declined to $5.09 million or $0.11 per share from $6.78 million or $0.14 per share in the year-ago quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.39 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues in the quarter nearly halved to $15.52 million from $34.94 million in the comparable prior year quarter, while analysts estimated $50.72 million.

Acacia Research also announced third quarterly cash dividend, payable in the amount of $0.125 per share on November 29, 2013, to shareholders of record at the close of business on November 1, 2013.

Following the news, the company's shares fell over 12 percent in the extended trading hours.