Rambus Reports Profit In Q1; Issues Q2 Revenue Guidance - Quick Facts

(RTTNews) - Rambus Inc. (RMBS) reported first-quarter net income of $7.80 million or $0.07 per share, compared to a loss of $10.40 million or $0.09 per share, previous year. Non-GAAP net income was $19.64 million or $0.17 per share, for the quarter.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.03 for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased to $78.29 million from $66.87 million. Analysts expected revenue of $72.45 million for the quarter. Revenue was up 17% primarily due to the license agreements signed with SK hynix, Micron Technology and Nanya Technology Corporation, offset by lower royalty revenue from Samsung and recognition of a one-time royalty revenue during the first quarter of 2013 from LSI, the company said.

Total operating costs and expenses were $55.1 million, 16% lower than the first quarter of 2013.

For the second quarter of 2014, the company expects revenue to be between $69 million and $74 million. Analysts expect the company to report second-quarter revenue of $74.48 million.