Acacia Research Corporation (1) (Nasdaq: ACTG) today reported results for the three months ended September 30, 2012.
- Revenues in the third quarter of 2012 were $34,939,000, as compared to revenues and other operating income of $63,036,000 in the comparable prior year quarter.
- Revenues for the nine months ended September 30, 2012 were $184,463,000, as compared to revenues and other operating income of $163,912,000 in the comparable prior year period.
- GAAP net loss in the third quarter of 2012 was $6,402,000, or $0.13 per diluted share, as compared to GAAP net income of $10,803,000, or $0.25 per diluted share for the comparable prior year quarter.
- Non-GAAP net income in the third quarter of 2012 was $8,450,000, or $0.17 per diluted share, as compared to $18,024,000, or $0.42 per diluted share for the comparable prior year quarter. See below for information regarding non-GAAP measures.
- Trailing twelve-month revenues and other operating income as of the end of the third quarter of 2012 increased 16% to $205,258,000, as compared to $177,014,000 as of the end of the prior year quarter.
Consolidated Financial Results
Financial highlights and operating activities during the periods presented included the following:
|Three Months Ended||Nine Months Ended|
|September 30,||September 30,|
|Revenues and other operating income (in thousands)||$||34,939||$||63,036||$||184,463||$||163,912|
|Net income (loss) (in thousands)||$||(6,402||)||$||10,803||$||49,847||$||25,295|
|Non-GAAP net income (in thousands)||$||8,450||$||18,024||$||97,158||$||45,234|
|Diluted earnings (loss) per share||$||(0.13||)||$||0.25||$||1.04||$||0.62|
|Pro forma non-GAAP net earnings per common share - diluted||$||0.17||$||0.42||$||2.03||$||1.11|
|New revenue agreements||33||24||111||88|
|Licensing programs generating revenues||31||22||58||49|
|Licensing programs with initial revenues||9||4||22||17|
|New patent portfolios||13||8||45||25|
|As of Date:||Trailing Twelve-Month Revenues*||% Change|
|September 30, 2012||$||205,258||-12||%|
|June 30, 2012||233,355||5||%|
|March 31, 2012||222,617||21||%|
|December 31, 2011||184,707||4||%|
|September 30, 2011||177,014||-|
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