Rambus ( RMBS) reported a 22% rise in second-quarter revenue, but its top-line-only release was another reminder of the stock-options-induced restatement news that hammered the stock during the regular session. Rambus said Wednesday that sales for the quarter were $48.9 million, rising 22% from the same time last year. The growth was driven by new patent-licensing revenue from agreements announced in the first two quarters of the year, the company said. Earlier in the day, Rambus, which licenses technology for memory chips, said it would
restate its financial reports dating back at least three years because of problems with its stock-options practices. Because of the ongoing investigation into its stock-option history, the company had recently reported that it could not yet finalize its earnings results for the second quarter. "While we await the results of the independent investigation being conducted by the audit committee of our board of directors, we remain focused on the fundamentals of the business," CEO Harold Hughes said in Wednesday's statement. The revenue results nudged the stock up 1.1%, or 18 cents, to $16.95 in after-hour trading on Instinet. During the regular session, the stock tanked 14.4%, dropping $2.83 to close at $16.77.