Acacia Research Reports Fourth Quarter and Record Year End Financial Results

NEWPORT BEACH, Calif. — (BUSINESS WIRE) — February 24, 2011 — Acacia Research Corporation(1) (Nasdaq: ACTG) today reported results for the three months and year ended December 31, 2010.

Acacia Research reported record revenues of $131,829,000 in fiscal year 2010, as compared to $67,340,000 in fiscal year 2009. Acacia Research reported record fiscal year GAAP net income of $34,051,000, or $0.97 per diluted share, in fiscal year 2010, as compared to a net loss of $11,290,000, or $0.38 per diluted share, in fiscal year 2009.

Acacia Research reported quarterly revenues of $13,102,000 for the fourth quarter of 2010, as compared to $19,858,000 in the comparable prior year quarter. Acacia Research reported a quarterly GAAP net loss of $5,270,000, or $0.16 per diluted share, for the fourth quarter 2010, as compared to a quarterly net loss of $4,670,000, or $0.15 per diluted share, for the comparable prior year quarter.

Consolidated Financial Results

Overview

Financial highlights and activities during the periods presented included the following:

                         
Three Months Ended December 31,

Years Ended December 31,

2010       2009

2010

2009

 
Revenues (in thousands) $ 13,102 $ 19,858

$

131,829

$

67,340

Net income (loss) (in thousands) $ (5,270 ) $ (4,670 )

$

34,051

$

(11,290

)

Basic income (loss) per share $ (0.16 ) $ (0.15 )

$

1.05

$

(0.38

)

Fully diluted income (loss) per share $ (0.16 ) $ (0.15 )

$

0.97

$

(0.38

)

New revenue agreements 41 32

221

117

Licensing programs generating revenues 25 21

58

30

Licensing programs with initial revenues 4 4

31

12

New patent portfolios 9 5

36

30

 

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