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UPDATE 1-Rambus loss widens on lower contract sales
July 19, 2012 / 9:43 PM / 5 years ago

UPDATE 1-Rambus loss widens on lower contract sales

* Q2 net loss $32.2 mln vs net loss $10.6 mln year ago

* Q2 rev down 15 pct at $56.2 mln

* Shares fall 9 pct after market

July 19 (Reuters) - Technology licensing company Rambus Inc’s quarterly loss widened on a fall in contract sales and lower royalties.

Net loss widened to $32.2 million, or 29 cents per share, in the second quarter from $10.6 million, or 10 cents per share, a year earlier.

Excluding items, the loss was 1 cent per share.

Revenue at the Sunnyvale, California-based company fell 15 percent to $56.2 million.

Revenue from contracts plunged 91 percent to $492,000, while revenue from royalties fell 9 percent to $55.7 million.

The company last month appointed Ronald Black as its chief executive.

In the last one year, Rambus settled patent litigation with Nvidia Corp, Broadcom Corp and Freescale Semiconductor Ltd. It reached a settlement agreement with MediaTek in March.

Shares of the company, which have fallen 63 percent in the last year, were down 9 percent at $4.75 in trading after the bell. They closed at $5.21 on Thursday on the Nasdaq.

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