Acacia Research Slips To Loss In Q1

(RTTNews) - Acacia Research Corp. (ACTG) reported that its first quarter GAAP net loss of $24.4 million or $0.51 per share, compared to net income of $5.1 million or $0.10 per share in the comparable prior year quarter.

Non-GAAP net loss for the quarter declined to $5.2 million or $0.11 per share, compared to net income of $22.7 million or $0.46 per share in the year-ago quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues in the quarter decreased 84% to $12.58 million from $76.86 million in the comparable prior year quarter, while two analysts estimated $16.92 million.