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Post to SlashdotRambus, a company what is hated by its opponents and adored by investors, posted a rather record-breaking revenue results for its fourth quarter and FY2003. The developer of interconnection technologies indicates sales growth as a result of new contracts signing as well as increased royalties paying from DRAM makers.
For the year ended on 31st of December 2003 Rambus received $118.203 in revenues, up roughly 21% from $97.405 million in 2002. The figure for 2003 included $15.6 million for contracts and $102.585 million in royalties.
Earnings per share for the December quarter were 8 cents, compared to 6 cents in the same period last year and 5 cents in the previous quarter. Net income for the December quarter was $8.6 million (27% of revenue), compared to $5.5 million in the same period last year and $5.0 million in the previous quarter. Revenue for the quarter was $32.4 million, up 26% over the same period last year and up 13% from the previous quarter.
Fourth quarter results also reflected $4.6 million in contract revenues, up 234% over the same period last year and up 15% from the previous quarter. This increase in contract revenues over the same period last year primarily reflects contracts signed in 2003 for the company’s XDR memory interface and Redwood interface technologies. December’s quarterly results include $27.8 million in royalties, up 14% over the same period last year and up 13% from the previous quarter.
Total costs and expenses in the December quarter decreased 4% from last quarter primarily as a result of a 51% decrease in litigation expense. The increase in cost of contract revenues related to the achievement of certain contractual delivery milestones associated with XDR memory interface, Redwood interface and RaSer interface technologies. This increase was partially offset by a decline in research and development expenses. Total costs and expenses were $21.3 million compared with $18.9 million in the comparable period last year and $22.2 million last quarter.
All in all, Rambus delivers pretty positive results. There are no breakthroughs, but definitely no collapses and failures. In case the company wins its legal cases and gets more royalties, the results will grow once again.
