SAN FRANCISCOMemory technology licensor Rambus Inc. Monday (June 22) lowered its revenue target for the quarter ending June 30, saying it now expects sales of between $26.7 million and $27.2 million.
Rambus (Los Altos, Calif.) had previously said it expected revenue of $27 million to $30 million.
Rambus also amended its estimate for adjusted operating expenses for the quarter. Rambus expects operating expensesexcluding stock-based compensation expensesto be between $42 million and $45 million, including litigation expenses of $15 million to $17 million. The company initially said it expected adjusted operating expenses to be between $43 million and $48 million.
"We continue our goal of managing expenses on a conservative basis, but also continue to incur legal expenses which vary depending on developments in cases or the actions of our litigation opponents" said Harold Hughes, Rambus president and CEO, in a statement.