Rambus Inc. (RMBS, Financial) filed Quarterly Report for the period ended 2012-06-30.
Rambus Inc. has a market cap of $457.1 million; its shares were traded at around $4.29 with and P/S ratio of 1.5.
We have a high degree of revenue concentration, with our top five licensees representing approximately 71% and 72% of our revenue for the three and six months ended June 30, 2012, respectively, as compared to 77% and 75% for the three and six months ended June 30, 2011, respectively. As a result of our settlement with Samsung in 2010, Samsung is expected to account for a significant portion of our ongoing licensing revenue. For the three months ended June 30, 2012, revenue from Samsung accounted for 10% or more of our total revenue. For the six months ended June 30, 2012, revenue from NVIDIA and Samsung each accounted for 10% or more of our total revenue. For the three and six months ended June 30, 2011, revenue from Elpida, NVIDIA and Samsung each accounted for 10% or more of our total revenue. We expect to continue to experience significant revenue concentration for the foreseeable future.
Our revenue from companies headquartered outside of the United States accounted for approximately 73% and 74% of our total revenue for the three and six months ended June 30, 2012, respectively, as compared to 78% for both the three and six months ended June 30, 2011. We expect that revenue derived from international licensees will continue to represent a significant portion of our total revenue in the future. To date, all of the revenue from international licensees have been denominated in
Contract revenue decreased approximately $4.7 million to $0.5 million for the three months ended June 30, 2012 from $5.2 million for the same period in 2011. Contract revenue decreased approximately $7.2 million to $1.3 million for the six months ended June 30, 2012 from $8.5 million for the same period in 2011. The decrease in both periods was primarily due to absence of new technology development contracts in 2012.
Total marketing, general and administrative costs decreased for the six months ended June 30, 2012 as compared to the same period in 2011, which included a decrease in litigation expenses related to ongoing major cases of $12.1 million. Non-litigation related marketing, general and administrative costs increased for the six months ended 2012 primarily due to increased headcount related costs of $3.2 million from the increase in employees to support our business, the accrual of the retention bonuses related to acquisitions from the past twelve months of $2.1 million, increased consulting costs of $1.4 million and increased costs related to sales and marketing events of $1.8 million.
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Rambus Inc. has a market cap of $457.1 million; its shares were traded at around $4.29 with and P/S ratio of 1.5.
Highlight of Business Operations:
Marketing, general and administrative expenses in the aggregate decreased $5.5 million for the three months ended June 30, 2012 as compared to the same periods in 2011 primarily due to lower litigation expenses of $7.0 million and lower acquisition diligence costs of $1.7 million, offset by increased headcount related costs of $2.0 million from the increase in employees to support our business and the accrual of the retention bonuses related to acquisitions from the past twelve months of $0.9 million. Marketing, general and administrative expenses in the aggregate decreased $3.5 million for the six months ended June 30, 2012 as compared to the same periods in 2011 primarily due to lower litigation expenses of $12.1 million offset by increased headcount related costs of $3.2 million from the increase in employees to support our business, the accrual of the retention bonuses related to acquisitions from the past twelve months of $2.1 million and increased costs related to sales and marketing events of $1.8 million.We have a high degree of revenue concentration, with our top five licensees representing approximately 71% and 72% of our revenue for the three and six months ended June 30, 2012, respectively, as compared to 77% and 75% for the three and six months ended June 30, 2011, respectively. As a result of our settlement with Samsung in 2010, Samsung is expected to account for a significant portion of our ongoing licensing revenue. For the three months ended June 30, 2012, revenue from Samsung accounted for 10% or more of our total revenue. For the six months ended June 30, 2012, revenue from NVIDIA and Samsung each accounted for 10% or more of our total revenue. For the three and six months ended June 30, 2011, revenue from Elpida, NVIDIA and Samsung each accounted for 10% or more of our total revenue. We expect to continue to experience significant revenue concentration for the foreseeable future.
Our revenue from companies headquartered outside of the United States accounted for approximately 73% and 74% of our total revenue for the three and six months ended June 30, 2012, respectively, as compared to 78% for both the three and six months ended June 30, 2011. We expect that revenue derived from international licensees will continue to represent a significant portion of our total revenue in the future. To date, all of the revenue from international licensees have been denominated in
Contract revenue decreased approximately $4.7 million to $0.5 million for the three months ended June 30, 2012 from $5.2 million for the same period in 2011. Contract revenue decreased approximately $7.2 million to $1.3 million for the six months ended June 30, 2012 from $8.5 million for the same period in 2011. The decrease in both periods was primarily due to absence of new technology development contracts in 2012.
Total marketing, general and administrative costs decreased for the six months ended June 30, 2012 as compared to the same period in 2011, which included a decrease in litigation expenses related to ongoing major cases of $12.1 million. Non-litigation related marketing, general and administrative costs increased for the six months ended 2012 primarily due to increased headcount related costs of $3.2 million from the increase in employees to support our business, the accrual of the retention bonuses related to acquisitions from the past twelve months of $2.1 million, increased consulting costs of $1.4 million and increased costs related to sales and marketing events of $1.8 million.
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