Rambus Inc posted a smaller quarterly loss than a year earlier as legal costs fell sharply.

Rambus said its net loss for the third quarter was $6.5 million, or 6 cents per share, compared with a loss of $22.6 million, or 22 cents per share, a year earlier. Revenue was $41.7 million, down 9.2 percent from $45.9 million a year ago.

Rambus said the cost of restating financial statements and related legal activities was $4.2 million in the quarter, compared with $23.8 million a year earlier.

"We have come through a very challenging time for the company with the restatement and consequences of the stock options backdating investigation," Chief Executive Harold Hughes said in a statement.

Rambus said a year ago that an internal investigation had found improper accounting for stock option grants and that it would restate previous financial reports to book more than $200 million in extra non-cash costs.

By: DocMemory
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