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UPDATE 1-Acacia Research results beat Street
July 19, 2012 / 8:47 PM / 5 years ago

UPDATE 1-Acacia Research results beat Street

* Q2 adj EPS $0.43 vs est $0.24

* Q2 rev up 27 pct at $50.5 mln vs est $42.2 mln

July 19 (Reuters) - Acacia Research Corp, which acquires and licenses patent rights to various technologies, posted second-quarter results above analysts’ estimates as sales from its technology licensing and enforcement programs rose.

Net income jumped to $6.3 million, or 13 cents per share, from $2.1 million, or 5 cents per share, a year earlier.

Excluding items, the company earned 43 cents per share.

Revenue increased 27 percent to $50.5 million.

The company said it generated revenue from 125 technology licensing and enforcement programs, compared with 104 programs, a year earlier.

Analysts on average had expected adjusted earnings of 24 cents a share on revenue of $42.2 million, according to Thomson Reuters I/B/E/S.

Shares of the company closed at $39.75 on Thursday on the Nasdaq.

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