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Rambus Reports Fourth Quarter And Full Year Financial Results

Non-GAAP Financial Results (1):

Customer licensing income in the fourth quarter of 2012 was $61.6 million, down 1% sequentially from the third quarter of 2012 for the reasons set out in the Company’s discussion of GAAP financial results above. As compared to the fourth quarter of 2011, customer licensing income was down 27% primarily for the reasons set out in the Company’s discussion of GAAP financial results above.

Customer licensing income for the year ended December 31, 2012 was $246.7 million, down 22% over the same period of last year, primarily for the reasons set out in the Company’s discussion of GAAP financial results above.

Total non-GAAP operating costs and expenses in the fourth quarter of 2012 were $45.2 million, which included general litigation expenses of $2.1 million. This is compared to total non-GAAP operating costs and expenses for the third quarter of 2012 of $45.0 million, which included general litigation expenses of $2.6 million. Total non-GAAP operating costs and expenses in the fourth quarter of 2011 were $66.4 million, which included general litigation expenses of $16.8 million.

Total non-GAAP operating costs and expenses for the year ended December 31, 2012 were $202.9 million as compared to $233.8 million for the year ended December 31, 2011 due primarily to lower litigation expenses and a lower bonus accrual, partially offset by higher headcount related costs, higher retention bonuses and amortization expenses from business acquisitions and higher consulting costs.

Non-GAAP net income in the fourth quarter of 2012 was $8.3 million as compared to non-GAAP net income of $9.0 million in the third quarter of 2012 and non-GAAP net income of $9.7 million in the fourth quarter of 2011. Non-GAAP diluted net income per share was $0.07 in the fourth quarter of 2012 as compared to $0.08 in the third quarter of 2012 and $0.08 in the fourth quarter of 2011.

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