Rambus Inc, the Mountain View, California-based provider of high- speed memory chip interface technology, has reported fourth- quarter net income up 51.9% at $2.7m on revenue up 27.3% at $12.3m. Earnings per share for the quarter rose 42.9% to $0.10, topping the First Call consensus by $0.02. Contract revenues rose 43.7% to $10.6m, while revenue from royalties dropped 26.2% to $1.7m.
Results for the quarter include $3.3m of previously-deferred revenue recognized due to what the company says is a change in its estimate of contract revenue recognition periods. Operating income for the fourth quarter was $3.4m, up from $1.8m in the same period last year and $2.1m in the preceding quarter. For the full year, net income rose 28.4% to $8.7m on revenue up 14.5% at $43.4m, while EPS rose 25% to $0.35.
