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Rambus Reports December Quarter Earnings; Earnings Per Share of 6 Cents

LOS ALTOS, Calif.--(BUSINESS WIRE)--Jan. 10, 2002--Rambus Inc. (Nasdaq:RMBS)

Q1 earnings announcement call live on website (www.rambus.com) at 2:00 p.m. PST.

Conference call replay number 800/947-6512; replay also available on website. Replay available for one week, beginning at 4:00 p.m. PST.

Rambus Inc. (Nasdaq:RMBS) today reported financial results for its first fiscal quarter ended December 31, 2001. Net income for the December quarter was $6.2 million (25% of revenues), compared to $13.0 million in the same period last year and $6.5 million in the previous quarter. Revenue for the quarter was $24.9 million, down 28% over the same period last year and down 11% from the previous quarter.

December quarter results include $21.8 million in royalties, down 13% from the previous quarter. Royalties were down primarily due to continuing DRAM industry price erosion during the third calendar quarter.

Operating expenses in the December quarter declined $2.3 million from last quarter as a result of a significant reduction in litigation costs. Costs associated with litigation were down to $4.5 million in the December quarter versus $6.8 million in the prior quarter. Overall, operating expenses were $17.3 million versus $19.6 million last quarter and $15.1 million in the same period last year.

"The business climate in 2001 was marked by an extreme decline in memory prices and a very difficult economic environment. The fact that we were profitable demonstrates that our business model has served us well during this turbulent year," said Geoff Tate, CEO of Rambus Inc. "In 2002, we are looking forward to more product introductions that incorporate Rambus innovations."

Rambus Inc. designs, develops and licenses high bandwidth chip-connection technology and provides the comprehensive engineering support necessary for a complete system solution. Rambus` technology and intellectual property are licensed to leading semiconductor suppliers including DRAM, controller and microprocessor manufacturers, ASIC developers, and foundries for use in computer, consumer and networking systems such as personal computers, workstations, servers, game consoles, set top boxes, digital HDTVs, printers, high-speed switches and routers.

This release and the conference call on today`s date contain forward-looking statements under the Private Securities Litigation Reform Act of 1995 regarding the Company`s financial prospects, development plans, anticipated product shipment dates, litigation prospects, relations with licensees and other third parties and various other matters. Such forward-looking statements are based on current expectations, estimates and projections about the Company`s industry, management`s beliefs, and certain assumptions made by the Company`s management. Actual results may differ materially. Among the reasons which could cause actual results to differ materially are the possibility of inadequate shipments of Rambus RDRAM memory devices and controllers for the Sony PlayStation2 and the PC main memory market, the market response to these products, the continued deterioration in the DRAM market, any delay in the development of Rambus-based products by licensees, any delay in the development and shipment of new Rambus products, any delay in the development and shipment of products compatible with Rambus products, a strong response of the market to competing technology, a lack of progress on price and cost reduction by RDRAM suppliers, a failure to sign new contracts or maintain existing contracts for RDRAM, SDRAM-compatible and DDR-compatible ICs, adverse litigation decisions and other factors that are described in our SEC filings including our 10-K and 10-Qs.

RAMBUS INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(unaudited)

Three Months Ended
December 31, September 30, December 31,
2001 2001 2000
------- ------- -------
Revenues:
Contract revenues $ 3,084 $ 2,833 $ 7,869
Royalties 21,780 25,063 26,848
------- ------- -------

Total revenues 24,864 27,896 34,717

Costs and expenses:
Cost of contract revenues 2,158 1,894 2,220
Research and development 5,120 5,035 3,588
Marketing, general
& administrative 5,515 5,846 4,968
Litigation expense 4,509 6,808 4,279
------- ------- -------

Total costs and expenses 17,302 19,583 15,055
------- ------- -------

Operating income 7,562 8,313 19,662
Other income 1,937 1,987 2,071
------- ------- -------
Income before income taxes 9,499 10,300 21,733
Provision for income taxes 3,325 3,818 8,693
------- ------- -------

Net income $ 6,174 $ 6,482 $ 13,040
======= ======= =======

Net income per share
- basic $ 0.06 $ 0.06 $ 0.13
======= ======= =======

Net income per share
- diluted $ 0.06 $ 0.06 $ 0.12
======= ======= =======

Shares used in per share
calculation:
Basic 100,336 100,190 98,551
Diluted 104,016 102,218 108,560


RAMBUS INC.
CONSOLIDATED BALANCE SHEETS
(in thousands)

December 31, September 30, December 31,
2001 2001 2000
------- ------- -------
(unaudited) (unaudited)
ASSETS
Current assets:
Cash and cash
equivalents $ 29,465 $ 44,195 $ 71,212
Marketable securities 80,523 85,700 55,507
Accounts receivable 275 2,368 1,788
Prepaid and
deferred taxes 8,970 7,665 21,220
Prepaids and other
current assets 3,322 3,319 2,977
------- ------- -------

Total current assets 122,555 143,247 152,704
Property and
equipment, net 15,191 15,862 12,161
Marketable securities,
less current portion 36,868 12,057 14,599
Restricted investments 12,009 13,605 2,773
Deferred taxes, long-term 39,922 44,275 55,404
Other assets 8,747 8,744 4,071
------- ------- -------

Total assets $ 235,292 $ 237,790 $ 241,712
========== ========== ==========

Total cash,
cash equivalents,
marketable securities
and restricted
investments $ 158,865 $ 155,557 $ 144,091


LIABILITIES AND STOCKHOLDERS` EQUITY

Current liabilities:
Accounts payable
and other current
liabilities $ 7,111 $ 7,977 $ 10,312
Current portion of
deferred revenue 11,319 14,398 21,719
------- ------- -------

Total current
liabilities 18,430 22,375 32,031
Deferred revenue,
less current portion 22,406 24,058 24,498
------- ------- -------

Total liabilities 40,836 46,433 56,529
------- ------- -------
Stockholders` equity:
Common stock 100 100 98
Additional paid-in
capital 280,062 282,911 295,596
Deferred stock-based
compensation (433) (461) (543)
Accumulated deficit (85,687) (91,861) (110,092)
Accumulated other
comprehensive gain 414 668 124
------- ------- -------

Total stockholders`
equity 194,456 191,357 185,183
------- ------- -------

Total liabilities and
stockholders` equity $ 235,292 $ 237,790 $ 241,712
========== ========== ==========

[Körschgen]

Rambus` 1st-Quarter Net Income Fell 53% as Revenue Declined 28%

LOS ALTOS, Calif. -- Rambus Inc. reported a 53% slump in fiscal first-quarter net income amid continued price drops and weak demand for computer-memory chips.
For the quarter ended Dec. 30, the chip maker late Thursday reported net income of $6.2 million, or six cents a diluted share, compared with $13 million, or 12 cents a share, a year earlier.

Revenue slipped 28% to $24.9 million from $34.7 million, as contract revenues tumbled 61% to $3.1 million and royalties fell 19% to $21.8 million. Rambus ( RMBS) attributed the decline in royalties primarily to continuing "industry price erosion" of dynamic random-access memory, or DRAM, chips during the third calendar quarter of 2001.

"The business climate in 2001 was marked by an extreme decline in memory prices and a very difficult economic environment," Chief Executive Geoff Tate said in a prepared statement. "The fact that we were profitable demonstrates that our business model has served us well during this turbulent year."

At 4 p.m. EST on the Nasdaq Stock Market, shares of Rambus were up four cents at $8.59. In after-hours activity, the stock jumped to $9.39, according to Island ECN.

Rambus has been embroiled in a series of patent-infringement suits with a handful of memory-chip makers. In May, the company lost a key court ruling in its legal dispute with German chip maker Infineon Technologies AG (IFX).

A federal jury in Richmond, Va., handed down a $3.5 million judgment against Rambus after returning a verdict that it committed fraud in not disclosing patent applications to an organization hashing out standards for semiconductors. Rambus has said it will appeal the ruling. The company also is the target of an investigation by the Federal Trade Commission.




Copyright (c) 2002 Dow Jones & Company, Inc.
All Rights Reserved.

[Körschgen]

Immerhin nicht vollkommen kollabiert, aber die Einnahmen sind ja ein Treppenwitz.

[Körschgen]

$ 9.29

[Martin Krüger]

@Körschgen

Nachbörslich gehts in die gewünschte Richtung. Norden !

Good luck

Martin

[liebemachtblind]

DANKE
Good Luck auch von mir
Andy

[Körschgen]

Erst mal abwarten, wo sich die Aktie morgen einpendelt. Selbst diese Nachrichten verhelfen ins Plus, naja, unter den Blinden ist der Einäugige der König.

[Körschgen]

Donnerstag 10. Januar 2002, 23:03 Uhr
Rambus Gewinn halbiert sich im 1. Quartal auf 6 Cent je Aktie - Über Prognose


LOS ALTOS (dpa-AFX) - Das US-Technologieunternehmen Rambus Inc. hat im ersten Geschäftsquartal 2001/2002 (31. Dezember) auf Grund des massiven Preis- und Nachfrageeinbruches bei Speicher-Chips einen Gewinneinbruch von 53 Prozent verzeichnet. Der Entwickler von Technologie zur Leistungssteigerung von Computer-Spreichern wies am Donnerstag nach Börsenschluss in einer Pressemitteilung einen Konzernüberschuss von 6,17 Millionen US-Dollar, oder 6 Cent je Aktie aus.
Im Vorjahr hatte das Unternehmen einen Gewinn von 13,0 Millionen Dollar, oder 12 Cent je Aktie auf verwässerter Basis erzielt. Der Umsatz sei im Berichtszeitraum von 34,7 Millionen auf 24,9 Millionen Dollar gesunken.

Die beiden von Thomson Financial/First Call befragten Wall-Street-Analysten hatten einen Gewinn je Aktie von 3 bis 5 Cent (Durchschnitt 4 Cent) erwartet.

Das Geschäftsjahr 2001 sei von einem extremen Preisverfall bei Speichern und einem sehr schwierigen wirtschaftlichen Umfeld geprägt gewesen, sagte Ramubs-Chef Geoff Tate./rh/af

[berliner_weisse]

http://www.finanznachrichten.de/nachrichten-aktien/rambus.as…

WKN Unternehmen/Aktie Markt Branche Vortag Aktuell Veränderung Zeit
906.870 RAMBUS Hardware
9,64 10,14 +0,50 (+5,19 %) 22:27

Datum Aktuelle Nachrichten: Sprache: Medien
11.01. / 00:42 "Extreme" price declines hit Rambus CNET (USA)
11.01. / 00:42 Rambus Falls a Little Short on Revenue, but Not on Earnings The Street (USA)
10.01. / 23:29 Rambus Gewinn halbiert sich im 1. Quartal auf 6 Cent je Aktie - Über Prognose Yahoo! Finanzen (D)
10.01. / 23:24 Rambus delivers 1Q profit CNN (USA)
10.01. / 23:12 Rambus meldet über den Erwartungen BörseGo (D)
10.01. / 22:54 Rambus beats earnings expectation CBSMarketWatch (USA)
10.01. / 22:54 New York: Rambus vor Zahlen behauptet de.internet.com (D)
10.01. / 22:46 New York: Rambus vor Zahlen behauptet Instock (D)
10.01. / 21:54 After Hours: Rational and Rambus set to report CBSMarketWatch (USA)
10.01. / 12:45 US-Markettermine heute (Pfizer, Amgen, Volkswagen, IDEC Pharmaceuticals, ... US-Market (D)
09.01. / 12:45 US-Markettermine heute (Pfizer, Amgen, DaimlerChrysler, IDEC Pharmaceuticals, ... US-Market (D)
08.01. / 12:45 US-Markettermine heute (Alcoa, IDEC Pharmaceuticals, Palm, Peoplesoft, ... US-Market (D)
19.12. / 01:51 Toshiba to drop Rambus DRAM sales for PCs Silicon Strategies (USA)
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[haderach]

@körschgen

Um die Rambus Zahlen zu bewerten sollte man sich mal die Zahlen der Big Player im Halbleitermarkt ansehen:
Intel: Umsatzeinbuße seit Q4/00: 25 %
Gewinneinbuße seit Q4/00 >75%
AMD: Umsatzeinbuße seit Q4/00: 35 %
Gewinneinbuße: fiel von + 50c/Aktie auf -27c/Aktie!
Rambus: Umsatzeinbuße seit Q4/00: 28%
Gewinneinbuße seit Q4/00: 50%

Alles in allem steht Rambus um einiges besser da als die Platzhirsche, Kommentare wie "Umsatz ist ein Treppenwitz, usw." zu den Zahlen sollte man sich daher sparen.