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rambus inc (RMBS) Key Developments

Rambus Inc. Develops an R+ DDR4/3 PHY on the Samsung 28nm LPP Process

Rambus Inc. announced it has developed an R+ DDR4/3 PHY on the Samsung 28nm LPP process. Through the collaboration with Samsung, Rambus has achieved a robust, production-ready R+ DDR4/3 PHY on the power-performance optimized 28nm Low Power Plus (LPP) process. The Rambus design has been characterized at a system level, and can be easily integrated into a SoC. The Rambus R+ DDR4 multi-modal memory PHY enables customers to differentiate their offerings by providing performance while maintaining full compatibility with industry standard DDR4, and DDR3 interfaces. Designed for server, compute, networking and consumer applications, the R+ DDR4 PHY delivers versatile configuration options for both area/power optimized consumer applications and performance intensive compute applications. The DDR4 IP product supports data rates from 800 to 3200Mbps in a low-power process and is available in both PoP and discrete packages.

Rambus's Cryptography Research Division and MStar Ink Licensing Deal

Rambus reported that its Cryptography Research Division and MStar have signed a license agreement for the inclusion of DPA countermeasure technologies developed by Cryptography Research in MStar products. MStar's tamper-resistant products, including set-top box chipsets, can be protected against differential power analysis (DPA) and related attacks.

Rambus Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Revenue Guidance for the First Quarter and Full Year of 2015

Rambus Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. The company reported revenue for the fourth quarter of 2014 was $72.0 million, up 3% on a sequential basis from the third quarter of 2014 primarily due to higher contract revenue. As compared to the fourth quarter of 2013, revenue was down 2% primarily due to lower royalty revenue from Samsung and NVIDIA, offset by the royalty revenue from Qualcomm and Micron Technology. Net income for the fourth quarter of 2014 was $7.8 million as compared to net income of $5.5 million in the third quarter of 2014 and net loss of $9.8 million in the fourth quarter of 2013. Diluted net income per share for the fourth quarter of 2014 was $0.07 as compared to diluted net income per share of $0.05 in the third quarter of 2014 and diluted net loss per share of $0.09 in the fourth quarter of 2013. Non-GAAP net income in the fourth quarter of 2014 was $16.7 million, 13% higher than the prior quarter and 2% higher than the fourth quarter of 2013. Non-GAAP diluted net income per share was $0.14 in the fourth quarter of 2014 as compared to $0.13 in the prior quarter and $0.14 in the fourth quarter of 2013. Operating income was $17.585 million against $6.214 million a year ago. Income before income taxes was $14.676 million against loss before income taxes of $3.604 million a year ago. Non-GAAP operating income was $27.449 million against $29.588 million a year ago. Non-GAAP income before income taxes was $26.076 million against $25.697 million a year ago. The company reported revenue for the year ended December 31, 2014 was $296.6 million, which was up 9% over the prior year period, primarily due to the license agreements signed with SK hynix, Micron Technology, Nanya Technology Corporation and Qualcomm, partially offset by lower royalty revenue from Samsung and NVIDIA. Net income for the year ended December 31, 2014 was $26.2 million as compared to a net loss of $33.7 million for the same period of 2013. Diluted net income per share for the year ended December 31, 2014 was $0.22 as compared to a diluted net loss per share of $0.30 for the same period of 2013. Non-GAAP net income for the year ended December 31, 2014 was $70.1 million as compared to $49.7 million in the same period of 2013. Non-GAAP diluted net income per share was $0.60 for the year ended December 31, 2014 as compared to non-GAAP diluted net income per share of $0.43 for the year ended December 31, 2013. Operating income was $75.346 million against $22.464 million a year ago. Income before income taxes was $50.250 million against loss before income taxes of $12.017 million a year ago. Non-GAAP operating income was $119.208 million against $91.508 million a year ago. Non-GAAP income before income taxes was $109.474 million against $77.723 million a year ago. For the first quarter of 2015, the company expects revenue to be between $70 million and $75 million. The company expected total operating expenses for the quarter to be between $46 million and $49 million. Operating income for the quarter is expected to be between $21 million and $29 million. For 2015, the company expects revenue to be between $300 million and $315 million. Revenue is not without risk and includes expectations that the company will sign new customers for patent as well as solutions licensing and renew or extend agreements with existing customers. The company expected pro forma operating margins to be within the range of 38%, plus/minus 2%, and pro forma EBITDA margin of 42%, plus/minus 2%. The company expected cash from operations to continue to increase and expect cash generation between $80 million and $90 million for the year.

Rambus Inc. Appoints Ellis Thomas Fisher as a Director to its Board, Effective Immediately

Rambus Inc. announced the appointment of Mr. Ellis Thomas Fisher as a director to its Board, effective immediately. Mr. Fisher is an industry veteran with extensive experience in cloud computing. He is currently senior vice president and chief information officer (CIO) of Global Commercial Cloud Services at Oracle.

Tezzaron to Incorporate Rambus ReRAM Memory Technology

Rambus Inc. and Tezzaron Semiconductor announced that they have signed an agreement to incorporate Rambus oxide-resistive memory (ReRAM) technology in forthcoming Tezzaron devices. This architecture license gives Tezzaron access to system IP, specifications and validation suites to design differentiated chips using ReRAM, which is ideally suited to improve the power and performance requirements in military, aerospace, and commercial memory applications. Tezzaron plans to build ReRAM into storage-class 3D memory devices for military, aerospace and commercial applications. Tezzaron also plans to implement ReRAM in an assortment of SoCs, FPGAs and processors to exploit the extensive split-fab production experience of Tezzaron's fabrication subsidiary, Novati Technologies. Using ReRAM, Novati can add hundreds of megabytes of storage to a logic device manufactured in a standard commercial fab. In addition to military and aerospace applications, ReRAM technology can be utilized in a variety of embedded storage memory devices where low power, design integration, cost and performance are all important factors. Among these, the development of storage memory in connected devices is fast becoming critical. The first in Tezzaron's family of ReRAM devices is currently in design and is scheduled for production in 2016.

 

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