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As of 8:10 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

rambus inc (RMBS) Key Developments

Rambus Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Revenue Guidance for the Third Quarter of 2014; Provides Earnings Guidance for the Full Year 2014

Rambus Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. Revenue for the second quarter of 2014 was $76.5 million, down 2% on a sequential basis from the first quarter of 2014 primarily due to a one-time catch-up payment from the new license agreement signed with Nanya Technology Corporation during the first quarter of 2014. As compared to the second quarter of 2013, revenue was up 32% primarily due to the license agreements signed with SK hynix, Micron Technology, Nanya Technology Corporation and Qualcomm, offset by lower royalty revenue from Samsung. Net income for the second quarter of 2014 was $5.0 million as compared to net income of $7.8 million in the first quarter of 2014 and net loss of $7.8 million in the second quarter of 2013. Basic and diluted net income per share for the second quarter of 2014 was $0.04 as compared to basic and diluted net loss per share of $0.07 in the second quarter of 2013. Non-GAAP net income in the second quarter of 2014 was $18.9 million, 4% lower than the prior quarter and 273% higher than the second quarter of 2013. Non-GAAP diluted net income per share was $0.16 in the second quarter of 2014 as compared to basic and diluted earnings per share of $0.04 in the second quarter of 2013. Operating income was $20,104,000 against $5,744,000 for the same period in the last year. Income before income taxes was $11,438,000 against loss before income taxes of $3,101,000 for the same period in the last year. Non-GAAP operating income was $32,744,000 against $11,220,000 for the same period in the last year. Non-GAAP income before income taxes was $29,547,000 against $7,920,000 for the same period in the last year. Cash from operations was approximately $10 million, slightly lower than expected due to timing difference between signing deals and collections. Revenue for the six months ended June 30, 2014 was $154.8 million, which was up 24% over the prior year period, primarily due to the license agreements signed with SK hynix, Micron Technology, Nanya Technology Corporation and Qualcomm, offset by lower royalty revenue from Samsung. Operating income was $43,293,000 against $7,185,000 for the same period in the last year. Income before income taxes was $24,714,000 against loss before income taxes of $8,992,000 for the same period in the last year. Net income for the six months ended June 30, 2014 was $12.8 million as compared to a net loss of $18.2 million for the same period of 2013. Basic and diluted net income per share for the six months ended June 30, 2014 was $0.11 as compared to a basic and diluted net loss per share of $0.16 for the same period of 2013. Non-GAAP net income for the six months ended June 30, 2014 was $38.6 million as compared to $15.9 million in the same period of 2013. Non-GAAP diluted net income per share was $0.33 for the six months ended June 30, 2014 as compared to non-GAAP basic and diluted net income per share of $0.14 for the six months ended June 30, 2013. Non-GAAP operating income was $67,103,000 against $31,398,000 for the same period in the last year. Non-GAAP income before income taxes was $60,235,000 against $24,855,000 for the same period in the last year. For the third quarter of 2014, the company expects revenue to be between $68 million and $73 million. Revenue is not without risk and includes expectations that the company will sign new customers for patent as well as solutions licensing. For the full year 2014, the company still expect revenue to be between $295 million and $305 million. The company now expects cash from operations to be between $65 million and $75 million.

Rambus Inc., Q2 2014 Earnings Call, Jul 21, 2014

Rambus Inc., Q2 2014 Earnings Call, Jul 21, 2014

Rambus Inc. Presents at IP Business Congress Global 2014 Conference, Jun-23-2014 04:10 PM

Rambus Inc. Presents at IP Business Congress Global 2014 Conference, Jun-23-2014 04:10 PM. Venue: Amsterdam, Netherlands. Speakers: Stefan Tamme, Vice President of IP Strategy.

Rambus Inc Unveils CryptoManager Secure Feature Management Platform

Rambus Inc. announced the CryptoManager platform, a feature management solution developed by the Rambus Cryptography Research (CRI) division. The CryptoManager platform consists of both a Security Engine and an Infrastructure suite that can dramatically improve efficiency and security during the manufacturing process. The CryptoManager Security Engine is a silicon core integrated into a SoC, providing a hardware root-of-trust for the secure provisioning, configuration, keying, and authentication of SoCs during chip and device manufacturing. The CryptoManager Infrastructure includes hardware appliances for securing in-factory operations and management systems for protecting the distribution of authorization and cryptographic keys throughout the chip manufacturing processes. In addition to helping address security needs for advanced mobile devices, the overall solution enables additional efficiencies, including dynamic provisioning for cost effective device personalization. The CryptoManager platform can dramatically change the chip manufacturing process by helping chip and handset makers tackle the security challenges of future mobile devices, allowing for a secure foundation for the connected lives.

Qualcomm Global Trading Pte. Ltd. Licenses Rambus Inc.'s CryptoManager Key and Feature Management Security Solution

Rambus Inc. announced that Qualcomm Global Trading Pte. Ltd. has entered into a license for the CryptoManager security and feature management platform developed by the Cryptography Research division of Rambus. The CryptoManager solution will provide Qualcomm Incorporated and its subsidiaries with an advanced key provisioning hardware solution for their integrated circuit systems on a chip, as well as an Infrastructure Suite for security throughout the SoC manufacturing processes. The CryptoManager Security Engine addresses critical chip and device security needs, including the provisioning and management of cryptographic keys across the chip and device supply chain. The CryptoManager infrastructure provides a unified platform across all provisioning locations and detailed visibility into operations. With the solution, chip and device makers can better cooperate to address advanced device personalization needs while ensuring the security of secret keys and sensitive data.

 

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