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Rambus shares fall following earnings report

Wallace Witkowski

Rambus Inc. shares fell in the extended session Monday after the chip company reported its earnings for the fourth quarter. Rambus shares fell 6% after hours, following a 0.9% decline to close the regular session at $8.82. The company reported a fourth-quarter loss of $2 million, or 2 cents a share, compared with a loss of $36.2 million, or 33 cents a share, in the year-ago period. Adjusted earnings were 9 cents a share, or 28 cents a share under old accounting rules. Revenue declined to $68.6 million from $101.9 million in the year-ago quarter, but under old accounting rules revenue would have been $102 million. Analysts surveyed by FactSet had forecast earnings of 25 cents a share on revenue of $101.9 million. Rambus has taken to reporting earnings under both new accounting rules, ASC 606, and old rules, ASC 605.