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Acacia Research Reports Second Quarter Financial Results And Announces Payment Of Quarterly Dividend

Stocks in this article: ACTG

Acacia Research Corporation (1) (Nasdaq: ACTG) today reported results for the three months ended June 30, 2013.

  • Revenues in the second quarter of 2013 were $23,110,000, as compared to $50,484,000 in the comparable prior year quarter.
  • Revenues for the six months ended June 30, 2013 were $99,971,000, as compared to $149,524,000 in the comparable prior year period.
  • GAAP net loss in the second quarter of 2013 was $12,503,000, or $0.26 per diluted share, as compared to GAAP net income of $6,321,000, or $0.13 per diluted share for the comparable prior year quarter.
  • Non-GAAP net income in the second quarter of 2013 was $6,481,000, or $0.13 per diluted share, as compared to Non-GAAP net income of $20,953,000, or $0.43 per diluted share for the comparable prior year quarter. See below for information regarding non-GAAP measures.
  • Trailing twelve-month revenues as of the end of the second quarter of 2013 were $201,174,000, as compared to $233,355,000 as of the end of the prior year quarter.

Approval of Quarterly Dividend. In addition, pursuant to the quarterly cash dividend policy announced on April 23, 2013, Acacia Research Corporation announced today that its Board of Directors has approved a second quarterly cash dividend, payable in the amount of $0.125 per share, which will be paid on August 30, 2013, to shareholders of record at the close of business on August 1, 2013. Future cash dividends are expected to be paid on a quarterly basis and will be at the discretion of the Board of Directors.

Acacia Research Corporation President, Matt Vella commented, "We invite shareholders and analysts to attend our previously announced 2013 Analyst & Investor Day at the New York Palace Hotel from 8:00 AM until 1:30 PM on Wednesday, July 24th."

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