Updated from 8:16 a.m. EDT

Doubled earnings and a 20% year-over-year jump in revenue sent Rambus ( RMBS) skyward Friday.

Rambus shares were recently up $1.93, or 12.6%, to $17.22.

The memory-chip designer earned $8.32 million in the June quarter, or 8 cents a share, compared with $4.53 million, or 4 cents a share, in the same quarter last year, according to generally accepted accounting principles. Revenue was $34.97 million, up from $29.19 million in 2003.

Analysts polled by Thomson First Call had forecast a profit of 6 cents per share on revenue of $33.4 million.

Rambus' projections for the third quarter were also stronger than analysts had expected. The Los Altos, Calif., company said revenue would likely range from $36 million to $39 million; analysts had projected $34.03 million in revenue for the September quarter.

"This was a very successful quarter with record revenue," said Geoff Tate, chief executive officer of Rambus, in a prepared statement.

Separately, Rambus and Cadence Designs Systems ( CDN) disclosed an agreement to share intellectual property. Cadence, which sells software used to design semiconductors, will become the exclusive reseller of Rambus' serial-link cells.

On a call with analysts after the announcement, Tate said Rambus will pay Cadence $11 million this quarter, and $5 million in the future subject to certain metrics, which he did not spell out.

As originally published, this story contained an error. Please see Corrections and Clarifications.

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