EDA WEEKLY: The EDA and the Electronics IP Almanac: Q3 2010 – Schedule B


Interest and other expense, net, for the third quarter of 2010 was $4.6 million as compared to $3.4 million in the second quarter of 2010 and $6.8 million in the third quarter of 2009. Interest and other expense, net, for the nine months ended September 30, 2010 was $13.7 million as compared to $9.6 million for the same period of 2009.

During the quarter ended September 30, 2010, the Company paid withholding taxes of $4.1 million. The Company recorded a provision for income taxes of $4.4 million for the third quarter of 2010, which is primarily comprised of the withholding taxes. As the Company continues to maintain a valuation allowance against its U.S. deferred tax assets, the Company's tax provision is based on its anticipated cash tax payments related to the quarter. By comparison, the Company recorded a provision for income taxes of $2.4 million for the quarter ended June 30, 2010 and a provision for income taxes of $0.1 million for the quarter ended September 30, 2009.

During the nine months ended September 30, 2010, the Company paid withholding taxes of $50.9 million. The Company recorded a provision for income taxes of $52.5 million for the nine months ended September 30, 2010, which is primarily comprised of the withholding taxes. By comparison, the Company recorded a provision for income taxes of $0.1 million for the nine months ended September 30, 2009.

Net loss for the third quarter of 2010 was $20.6 million as compared to a net loss of $12.5 million in the second quarter of 2010 and a net loss of $27.5 million in the third quarter of 2009. Diluted net loss per share for the third quarter of 2010 was $0.18 as compared to a net loss per share of $0.11 in the second quarter of 2010 and a net loss per share of $0.26 for the third quarter of 2009.

Net income for the nine months ended September 30, 2010 was $117.8 million as compared to a net loss of $68.9 million for the same period of 2009. Diluted net income per share for the nine months ended September 30, 2010 was $1.01 as compared to a net loss per share of $0.66 for the same period of 2009.

Cash, cash equivalents, and marketable securities as of September 30, 2010 were $484.9 million, a decrease of approximately $112.7 million from June 30, 2010. During the third quarter of 2010, the Company entered into an Accelerated Share Repurchase agreement (“ASR”) to repurchase $90 million of the Company's common stock, with the Company paying such $90 million at the time of commencement of the ASR. Prior to the commencement of the ASR, the Company repurchased shares of its common stock having an aggregate value of $9.8 million. In addition, the Company used $3.3 million in the acquisition of intellectual property.

Rambus Inc. self descripton

Rambus is one of the world's premier technology licensing companies. Founded in 1990, the Company specializes in the invention and design of architectures focused on enhancing the end-user experience of computing, communications and consumer electronics applications. Additional information is available at www.rambus.com.



Chart courtesy Yahoo Finance



Rambus News Item

Rambus Updates Fourth Quarter Revenue Guidance


On December 6, 2010 Rambus Inc. (NASDAQ:RMBS) updated its guidance for the quarter ending December 31, 2010. As a result of the patent license agreement with Elpida announced earlier on this day, the Company revised its revenue guidance for the quarter to be between $85 million and $93 million. Rambus initially provided revenue guidance for the quarter in the range of $40 million and $50 million.

“The Elpida agreement is estimated to result in royalty payments of $180 million to Rambus over the next five years, including $47 million to be paid in the current quarter,” said Harold Hughes, president and chief executive officer of Rambus. “With this agreement, we now have more than half of the DRAM market licensed, providing system manufacturers more choices of supply for licensed DRAM products.”



TTM EDA and Electronics IP Margins & Market Caps

Table 1 in the EDA WEEKLY Schedule A posting of January 10, 2010 provided revenue numbers for Q3 2010 and the three prior quarters, listing each of the G5 EDA vendor's revenue results for each of those quarters. Table 2 in the EDA WEEKLY Schedule A posting of January 10, 2010 provided earnings numbers for Q3 2010 and the three prior quarters, listing each of the G4 EDA vendor's earnings results for each of those quarters, for the four EDA vendors reporting Q3 2010 earnings.

Likewise, Table 1 in the present EDA WEEKLY Schedule B posting provides revenue numbers for Q3 2010 and the three prior quarters, listing each of the G5 Electronics IP vendor's revenue results for each of those quarters. Table 2 in the current EDA WEEKLY Schedule B posting provides earnings numbers for Q3 2010 and the three prior quarters, listing each of the G5 IP vendor's earnings results for each of those quarters.

To gain a side by side comparison of all nine vendors, in a format which combines the twelve trailing months (ttm) up to and including Q3 2010, along with the perspective offered by current Market Capitalizations, we present below Table 3:





The most disconcerting data point (to this writer) in Table 3, is that ARMH, whose revenue is only 17% of the combined revenues of Cadence, Magma, Mentor Graphics and Synopsys ... that ARMH is valued by the stock market as being worth 1.24 times the combined market caps of Cadence, Magma, Mentor Graphics and Synopsys!



Parting News about Employment in the United States



Employment Numbers for December 2010

Released on January 7, 2011 by US Labor Department


######



Footnote [1]: Remarks of President Barack Obama of January 12, 2011 - as prepared for delivery and released by the White House for the Memorial Service for the Victims of the January 8th Shooting in Tucson, Arizona.





When giving the actual speech, the president updated the section on visiting the congresswoman in the hospital, after "she opened her eyes for the first time":


To the families of those we've lost; to all who called them friends; to the students of this university, the public servants gathered tonight, and the people of Tucson and Arizona: I have come here tonight as an American who, like all Americans, kneels to pray with you today, and will stand by you tomorrow.

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