LOS ALTOS, Calif., Sep 15, 2009 (BUSINESS WIRE) -- Rambus Inc. (NASDAQ:RMBS), one of the world's premier technology
licensing companies specializing in high-speed memory architectures,
announced today that it was updating its revenue and expense guidance
for the quarter ending September 30, 2009. The Company expects revenue
for the quarter to be between $27 million and $28 million. Rambus had
initially provided revenue guidance for the quarter of $22 million to
$25 million. Adjusted operating expenses for the quarter, excluding
stock-based compensation expenses and any stock-based compensation
restatement expenses or benefits, are expected to be between $41 million
and $44 million, due to a delay in litigation-related spending and lower
engineering expenses. Rambus' previous guidance for adjusted operating
expenses, excluding stock-based compensation expenses and any
stock-based compensation restatement expenses or benefits, was $44
million to $49 million.
"Semiconductor shipments rose to meet current OEM demand, after an
overcorrection earlier this year, driving an increase in our variable
royalty payments and consequently higher expected revenue for the
quarter," said Harold Hughes, president and chief executive officer at
Rambus. "Concurrently, the rescheduling of the price-fixing trial,
combined with lower engineering spending, drove a downward revision in
our anticipated operational expenses."
Forward Looking Statements and Other Information
This press release contains forward-looking statements related to our
revised guidance and expected results of operations for the quarter
ending September 30, 2009.Actual results may differ materially
from those contained in the forward-looking statements.Please
refer to the documents Rambus files with the SEC, including Rambus' most
recent Form 10-K and Form 10-Q and the Current Report on Form 8-K filed
by Rambus regarding the adoption of FASB Staff Position APB 14-1.These
SEC filings contain and identify important factors that could cause
Rambus' consolidated financial results to differ materially from those
contained in Rambus' forward-looking statements.Although Rambus
believes that the expectations reflected in the forward-looking
statements are reasonable, Rambus cannot guarantee future results,
levels of activity, performance, or achievements. Rambus is under no
duty to update any of the forward-looking statements after the date of
this press release to conform to actual results. Our business generally
is subject to a number of risks which are described more fully in our
SEC filings including our Forms 10-K and 10-Q.
The Company's presentation of guidance on adjusted operating expenses
excludes the generally accepted accounting principles (GAAP) measures of
stock-based compensation expenses and any stock-based compensation
restatement expenses or benefits, which the Company is unable to
estimate at this time.The Company believes the presentation of
adjusted operating expenses provides management and investors with
meaningful information to understand and analyze the Company's third
quarter guidance. However, this presentation should not be considered in
isolation or as a substitute for the comparable GAAP measurement, when
available.
About Rambus Inc.
Rambus is one of the world's premier technology licensing companies
specializing in the invention and design of high-speed memory
architectures. Since its founding in 1990, the Company's patented
innovations, breakthrough technologies and renowned integration
expertise have helped industry-leading chip and system companies bring
superior products to market. Rambus' technology and products solve
customers' most complex chip and system-level interface challenges
enabling unprecedented performance in computing, communications and
consumer electronics applications. Rambus licenses both its world-class
patent portfolio as well as its family of leadership and
industry-standard interface products. Headquartered in Los Altos,
California, Rambus has regional offices in North Carolina, India,
Germany, Japan, Korea and Taiwan. Additional information is available at www.rambus.com.
RMBSFN
SOURCE: Rambus Inc.
Rambus Public Relations
Linda Ashmore, 650-947-5411
lashmore@rambus.com
Copyright Business Wire 2009