Rambus Reports Third Quarter 2017 Financial Results

Revenue for the quarter was $99.1 million due to execution in our Security Division and continued strength in our licensing program. As a result of our execution in both businesses, revenue for our Memory and Interface Division was up 9% year over year and revenue for our Security Division was up 17% year over year. GAAP total operating costs and expenses were below the low end of our expectations, yielding $0.07 of GAAP net income per share, at the high end of our expectations. We had non-GAAP net income per share of $0.19, at the high end of our expectations.

Cash, cash equivalents, and marketable securities as of September 30, 2017 were $183.6 million, an increase of $15.7 million from June 30, 2017, mainly due to cash generated from operating activities of approximately $15 million. Adjusted EBITDA for the quarter was $37.8 million.


2017 Fourth Quarter Outlook

(In millions, except per share amounts)   GAAP   Non-GAAP (1)
Revenue $98 - $104 $98 - $104
Total operating costs and expenses $88 - $83 $69 - $64
Operating income $11 - $22 $29 - $40
Diluted net income per share $0.04 - $0.11 $0.16 - $0.22
(1) See “Reconciliation of GAAP Forward Looking Estimates to Non-GAAP Forward Looking Estimates” tables included below. Note that the applicable non-GAAP measures are presented and that revenue is solely presented on a GAAP basis.

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