SUNNYVALE, Calif. (AP) _ Rambus Inc. (RMBS) on Monday reported a first-quarter loss of $38.9 million, after reporting a profit in the same period a year earlier.
The Sunnyvale, California-based company said it had a loss of 36 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to 21 cents per share.
The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 21 cents per share.
The memory chip designer posted revenue of $46.4 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $97 million.
For the current quarter ending in July, Rambus expects its per-share earnings to range from 17 cents to 23 cents.
The company said it expects revenue in the range of $42 million to $48 million for the fiscal second quarter.
Rambus shares have dropped almost 1 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.13, a climb of 13 percent in the last 12 months.
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