Rambus rises after posting smaller 4Q loss
Rambus shares rise on smaller 4th-quarter loss, revenue down
NEW YORK (AP) -- Shares of memory chip designer Rambus Inc. climbed Friday after the company reported a smaller loss in the fourth quarter.
Rambus said Thursday that it lost $16.1 million, or 14 cents per share. In the fourth quarter of 2011 it lost $28.7 million, or 26 cents per share. Revenue fell 31 percent, to $57.4 million in the recent quarter
A year ago the company recorded a large payment under a patent license agreement with Broadcom Corp. The Sunnyvale, Calif., company also reported $35.5 million in impairment charges in the fourth quarter of 2011. It didn't report similar charges in the most recent period.
Rambus said it lost $134.3 million, or $1.21 per share, for all of 2012. That compares with a loss of $43.1 million, or 39 cents per share, in 2011. Revenue decreased 25 percent, to $234.1 million.
Shares of Rambus rose 37 cents, or 7.2 percent, to close at $5.48 on Friday.
