Rambus Q4 income drops 35 per cent
Despite record revenues
Rambus posted mixed Q4 FY2005 results yesterday, with a large year-on-year income gain accompanying a big sequential slide.
Net income for the three months to 31 December 2005 came to $9.4m, down 35 per cent on the previous quarter but up 45 per cent year on year. Fully diluted earnings for the fourth quarter were nine cents, compared to six cents in Q4 FY2004 and 14 cents in the previous quarter.
Sales for the period totalled $41.6m, up 16 per cent from Q3's $36m and up eight per cent on Q4 FY2004's $38.6m.
The Q4 figures include $6.9m in contract revenues, Rambus said, up 14.3 per cent over the same period last year and down 13.5 per cent sequentially. The decrease arose from the timing of deliverables under certain memory and serial link technology development contracts, the company said. A 23.7 per cent sequential increase in royalty revenues - to $34.7m - was primarily due to Infineon's first quarterly royalty payment of $5.9m under the licensing agreement that ended the two firms' bitter legal battle in March 2005.
For the full fiscal year, Rambus reported net income of $33.7m - barely higher than 2004's $33.6m - on revenues of $157m, up eight per cent on the $157m the company reported this time last year. ®