This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

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

Acacia Research Corporation (1) (Nasdaq: ACTG) today reported results for the three months ended September 30, 2013. (3)

  • Revenues in the third quarter of 2013 were $15,520,000, as compared to $34,939,000 in the comparable prior year quarter.
  • Revenues for the nine months ended September 30, 2013 were $115,491,000, as compared to $184,463,000 in the comparable prior year period.
  • GAAP net loss in the third quarter of 2013 was $15,711,000, or $0.33 per diluted share, as compared to a GAAP net loss of $6,619,000, or $0.14 per diluted share for the comparable prior year quarter.
  • Non-GAAP net income in the third quarter of 2013 was $5,085,000, or $0.11 per diluted share, as compared to Non-GAAP net income of $6,782,000, or $0.14 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 third quarter of 2013 were $181,755,000, as compared to $205,258,000 as of the end of the prior year quarter.
  • Cash and cash equivalents and investments totaled $285,301,000 as of September 30, 2013 compared to $311,279,000 as of December 31, 2012.

Approval of Quarterly Dividend. Acacia Research Corporation also announced today that its Board of Directors has approved its third quarterly cash dividend, payable in the amount of $0.125 per share, which will be paid on November 29, 2013, to shareholders of record at the close of business on November 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.

Consolidated Financial Results - Overview

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

   

Three Months Ended September 30,

   

Nine Months Ended September 30,

2013     2012 2013     2012
 
Revenues (in thousands) $ 15,520 $ 34,939 $ 115,491 $ 184,463
Net income (loss) (in thousands) $ (15,711 ) $ (6,619 ) $ (23,101 ) $ 49,630
Non-GAAP net income (in thousands) $ 5,085 $ 6,782 $ 34,276 $ 95,490

Diluted earnings (loss) per share (3)

$ (0.33 ) $ (0.14 ) $

(0.49

) $

1.00

Pro forma non-GAAP net earnings per common share - diluted (3)

$ 0.11 $ 0.14 $ 0.71 $ 2.00

New agreements executed

24 33 96 111
Licensing and enforcement programs generating revenues 24 31 47 57
Licensing and enforcement programs with initial revenues 5 9 19 22
New patent portfolios 6 13 22 45
 

As of September 30, 2013, trailing twelve-month revenues were as follows (in thousands):

As of Date:    

Trailing Twelve- Month Revenues

    % Change
September 30, 2013 $ 181,755 (10 )%

June 30, 2013

$

201,174

(12 )%
March 31, 2013 $ 228,548 (9 )%
December 31, 2012 $ 250,727 22 %
September 30, 2012 $ 205,258 %
 

As of September 30, 2013, on a consolidated basis, we have generated revenues from 162 technology licensing and enforcement programs, as compared to 134 programs as of the end of the prior year quarter.

1 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs