Rambus: 4Q Earnings Snapshot
SUNNYVALE, Calif. (AP) _ Rambus Inc. (RMBS) on Monday reported fourth-quarter net income of $25.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Sunnyvale, California-based company said it had profit of 23 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 28 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The memory chip designer posted revenue of $102 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $101.9 million.
For the year, the company reported that its loss narrowed to $15.3 million, or 14 cents per share. Revenue was reported as $401.1 million.
Rambus shares have climbed 15 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $8.82, a decline of 38 percent in the last 12 months.