LOS ALTOS, Calif., Jun 22, 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 has updated its guidance for the quarter ending
June 30, 2009. The Company revised its guidance for revenue and expenses
for the quarter. The Company expects revenue for the quarter to be
between $26.7 million and $27.2 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 $42 million and $45 million, which includes litigation
expenses between $15 million and $17 million. Rambus initially provided
revenue guidance for the quarter in the range of between $27 million and
$30 million. Rambus also initially provided adjusted operating expenses
guidance for the quarter, excluding stock-based compensation expenses
and any stock-based compensation restatement expenses or benefits, of
$43 million to $48 million, which included litigation expenses in the
range of between $12 million and $16 million.
"Our updated guidance reflects the impact of the current macro-economic
situation and its effect on the sales of semiconductors and consumer
electronic systems," said Harold Hughes, president and chief executive
officer at Rambus. "We continue our goal of managing expenses on a
conservative basis, but also continue to incur legal expenses which vary
depending on developments in cases or the actions of our litigation
opponents."
Forward Looking Statements and Other Information
This press release contains forward-looking statements related to our
guidance and expected results of operations for the quarter ending June
30, 2009.Actual results may differ materially from those
contained in the forward-looking statements.Please refer to the
documents Rambus files from time to time 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 second
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