Rambus: 3Q Earnings Snapshot
SUNNYVALE, Calif. (AP) _ Rambus Inc. (RMBS) on Monday reported a third-quarter loss of $70.7 million, after reporting a profit in the same period a year earlier.
The Sunnyvale, California-based company said it had a loss of 65 cents per share. Earnings, adjusted for one-time gains and costs, were 22 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 22 cents per share.
The memory chip designer posted revenue of $99.8 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $100.1 million.
For the current quarter ending in December, Rambus expects its per-share earnings to range from 23 cents to 29 cents.
The company said it expects revenue in the range of $99 million to $105 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $102.1 million.
Rambus shares have dropped 40 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $8.51, a decline of 40 percent in the last 12 months.