Rambus Swings To Q3 Profit

(RTTNews) - Rambus Inc. (RMBS) reported net income for the third quarter of $5.5 million or $0.05 per share, compared to a net loss of $5.7 million or $0.05 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $14.8 million or $0.13 per share, compared to $17.4 million or $0.15 per share in the prior year quarter.

Revenue for the third quarter of 2014 was $69.71 million, down 5% from $73.29 million a year ago, mainly due to lower royalty revenue from Samsung and NVIDIA, offset by the license agreements signed with Qualcomm and Micron Technology.

Analysts polled by Thomson Reuters expected the company to earn $0.05 per share on revenue of $71.00 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward, the company expects fourth quarter revenue to be between $70 million and $75 million. Analysts currently expect the company to post revenue of $74.38 million for the fourth quarter.