Rambus Q1 Profit Tops Estimate

(RTTNews) - Rambus Inc. (RMBS) reported net income for the first quarter of $9.5 million or $0.08 per share, compared to $7.8 million or $0.07 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest quarter was $17.0 million or $0.14 per share.

Total revenue for the first quarter fell to $72.91 million from $78.29 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.06 per share on revenue of $72.88 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts second quarter revenue to be between $70 million and $74 million. Analysts currently expect the company to post revenue of $75.10 million for the second quarter.