Originally published at www.seclive.com
Rambus Inc. (NASDAQ:RMBS) announced its financial results for the first quarter of the 2014 fiscal year, posting a net profit as opposed to a net loss reported in the year-ago quarter and fourth quarter last fiscal year. Revenue rose 17% to $78.3M, attributed primarily to licensing agreements, with Rambus projecting second quarter revenues between $69M and $74M. Net income was $7.8M and $0.07 per share compared to a net loss of $10.4M and $0.09 losses per share in the year-ago quarter. Rambus cash, cash equivalents, and market securities increased $15.7M to $403.4M. During first quarter, Rambus signed a five-year licensing agreement with Nanya Technology Corporation, resolving outstanding disputes.
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