SAN FRANCISCO, Feb. 12, 2013 (GLOBE NEWSWIRE) -- RPX Corporation (Nasdaq:RPXC), a leading provider of patent risk management solutions, today announced its financial results for the fourth quarter and year ended December 31, 2012. Financial Highlights
Revenue for the fourth quarter of fiscal 2012 totaled $51.6 million, up 22% from the prior year period
Revenue for fiscal 2012 totaled $197.7 million, up 28% from fiscal 2011
GAAP net income for the fourth quarter of fiscal 2012 was $10.1 million or $0.19 per pro forma diluted share[1]
GAAP net income for fiscal 2012 was $39.0 million or $0.74 per pro forma diluted share[1]
Non-GAAP net income for the fourth quarter of fiscal 2012 was $12.3 million or $0.24 per pro forma diluted share[1]
Non-GAAP net income for fiscal 2012 was $47.1 million or $0.90 per pro forma diluted share[1]
"RPX reported a solid 2012, capped by a strong fourth quarter with progress in client growth, patent acquisition activity, and the roll out of our insurance service," said Chief Executive Officer John Amster. "These results affirm that our mission to help companies manage and reduce exposure to patent risk is being embraced by the market." Summary Results Revenue for the fourth quarter increased 22% to $51.6 million, compared to $42.4 million in the fourth quarter of 2011. For fiscal year 2012, revenue was $197.7 million, compared to revenue of $154.0 million for fiscal year 2011. Net acquisition spend during the quarter totaled $23.2 million, and included seven new acquisitions of patent assets, in addition to the exercise of previously negotiated options to acquire licenses for new clients. GAAP net income for the quarter was $10.1 million or $0.19 per diluted share, compared to $6.9 million or $0.13 per diluted share in the fourth quarter of 2011. Net income was $0.19 per pro forma diluted share [1] in the fourth quarter, compared to $0.13 per pro forma diluted share [1] in the fourth quarter of 2011. For fiscal 2012, GAAP net income was $39.0 million or $0.74 per diluted share, compared to $29.1 million or $0.57 per diluted share for fiscal 2011. Net income was $0.74 per pro forma diluted share [1], compared to $0.60 per pro forma diluted share [1] for fiscal 2011. Non-GAAP net income for the quarter, which excludes stock-based compensation, the amortization of acquired intangibles and in 2011 it also excludes a payment in lieu of a contingent obligation (in each case, net of tax), was $12.3 million or $0.24 per pro forma diluted share [1], compared to $11.3 million or $0.22 per pro forma diluted share [1] in the fourth quarter of 2011. For fiscal 2012, Non-GAAP net income was $47.1 million or $0.90 per pro forma diluted share [1], compared to $37.1 million or $0.77 per pro forma diluted share [1] for fiscal 2011. As of December 31, 2012, RPX had cash, cash equivalents and short-term investments of $199.7 million.
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