Acacia Reports Earnings - GoFuckYourself.com

Keev · 10-22-2003, 03:30 PM

http://news.moneycentral.msn.com/tic...mbo l=US:ACTG

Keev · 10-22-2003, 03:33 PM

Acacia Research Corporation ACTGCBMX today reported results for the three months ended September 30, 2003. Acacia Research Corporation comprises two operating groups, the Acacia Technologies group and the CombiMatrix group.

"The Acacia Technologies group entered into 16 new licensing agreements for its Digital Media Transmission technology and recognized $186,000 of licensing revenues during the quarter, which did not include third quarter license fees due from a number of licensees, which will be recognized as revenues when received in the fourth quarter. We entered into 12 additional licensing agreements in the three weeks since the end of the third quarter and estimate annualized revenues to be between approximately $1.1 million and $1.5 million from licensing agreements executed to date, based on information provided by our licensees," commented Chairman and CEO, Paul Ryan.

"The CombiMatrix group progressed in its strategic alliances with Roche and Toppan in the development of its microarray products and expanded its drug discovery, diagnostics and nanomaterials initiatives with new alliances and collaborations. During the third quarter the CombiMatrix group recognized revenues of $181,000 and also received $3,141,000 in payments from Roche, which were recorded as deferred revenues, bringing total cash payments received from Roche since the inception of our strategic alliance to $26,444,000," stated CombiMatrix CEO and President, Dr. Amit Kumar.

Acacia Research Corporation Consolidated

Financial Results

Consolidated revenues for the third quarter of 2003 were $367,000 versus $179,000 in the comparable 2002 period. Third quarter 2003 revenues were primarily comprised of Digital Media Transmission ("DMT") license fees recognized by the Acacia Technologies group and revenue recognized by the CombiMatrix group related to the sale of a DNA microarray synthesizer to the Nihon Gene Research Laboratory ("NGRL") and service and maintenance contract revenue recognized related to a DNA microarray synthesizer system sold to Keio University School of Medicine.

The third quarter 2003 consolidated net loss was $5,832,000 versus $20,622,000 in the comparable 2002 period. The third quarter 2003 consolidated loss from operations before minority interests was $5,832,000 versus $34,502,000 in the comparable 2002 period. The third quarter 2002 consolidated net loss included legal settlement charges totaling $18,471,000, primarily comprised of a non-cash charge for the fair value of CombiMatrix Corporation common shares issued pursuant to the terms of the related settlement agreement. The third quarter 2002 consolidated net loss also included a non-cash impairment charge totaling $2,748,000 related to a decline in fair value of a cost-method investment.

Included in the third quarter 2003 consolidated net loss are non-cash charges totaling $1,417,000, comprised of non-cash stock compensation amortization charges of $664,000, non-cash patent amortization charges of $399,000 and depreciation charges totaling $354,000. Non-cash stock compensation amortization charges, non-cash patent amortization charges and depreciation charges totaled $2,016,000, $550,000 and $429,000, respectively, in the comparable 2002 period.

Consolidated research and development expenses, comprised of costs incurred by the CombiMatrix group, decreased to $1,726,000 from $6,449,000 in the comparable 2002 period, primarily due to the CombiMatrix group's completion of several research and development projects in the third and fourth quarters of 2002 pursuant to its agreements with Roche Diagnostics, GmbH ("Roche"), resulting in a reduction of related research and development expenses during 2003, as compared to 2002.

Consolidated marketing, general and administrative expenses decreased to $3,675,000 from $4,727,000 in the comparable 2002 period, primarily due to a reduction in professional fees related to Acacia Research Corporation's recapitalization and merger transactions completed in December 2002, a reduction in corporate legal expenses, and a reduction in overhead due to reduced general and administrative personnel compared to the prior year quarter. The decrease was partially offset by an increase in costs related to Acacia Technologies group's ongoing DMT patent commercialization and enforcement efforts, including increased legal and engineering costs related to new patent claims and the identification of additional potential licensees of our DMT technology.

Minority interests in the net losses of subsidiaries decreased to zero from $14,080,000 in the comparable 2002 period, due to Acacia Research Corporation's acquisition of the remaining ownership interests in CombiMatrix Corporation in December 2002 and in Advanced Material Sciences and CombiMatrix KK in July 2003.

Keev · 10-22-2003, 03:35 PM

CONSOLIDATED BALANCE SHEET INFORMATION

September 30, December 31,
2003 2002
---- ----

Total Assets $94,094 $97,071
------ ------
Total Liabilities $27,974 $19,041
------ ------
Minority Interests $1,130 $2,171
------ ------
Total Stockholders' Equity $64,990 $75,859
------ ------

CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended
---------------------------
September 30, September 30,
2003 2002
------------- -------------
Revenues:
License fee income $186 $43
Product revenue 171 23
Grant and contract revenue 10 113
------------- -------------
Total revenues 367 179
------------- -------------
Operating expenses:
Cost of sales 17 6
Research and development expenses 1,726 6,449
Non-cash stock compensation expense -
research and development 243 753
Marketing, general and administrative
expenses 3,675 4,727
Non-cash stock compensation expense -
marketing, general and administrative 421 1,263
Amortization of patents 399 550
Legal settlement charges - 18,471
------------- -------------
Total operating expenses 6,481 32,219
------------- -------------
Operating loss (6,114) (32,040)
------------- -------------

Other income (expenses) 212 (2,749)
------------- -------------
Loss from operations before income taxes
and minority interests (5,902) (34,789)

Benefit for income taxes 70 287
------------- -------------
Loss from operations before minority
interests (5,832) (34,502)

Minority interests - 14,080
------------- -------------
Loss from continuing operations (5,832) (20,422)

Discontinued operations:
Estimated loss on disposal of
Soundbreak.com - (200)
------------- -------------
Net loss $(5,832) $(20,622)
hahahahahahahahahahahahahahahahahahahahahahahaha= hahahahahahahahahahahahahahahahahahahahahahahaha=

Loss per common share:
Attributable to the Acacia Technologies
group:
Net loss $(1,296) $(5,275)
Basic and diluted per share (0.07) (0.27)

Attributable to the CombiMatrix group:
Net loss $(4,536) $(15,347)
Basic and diluted per share (0.18) (0.67)

Weighted average shares - basic and
diluted:
Acacia Research - Acacia Technologies
stock 19,645,949 19,640,808
hahahahahahahahahahahahahahahahahahahahahahahaha= hahahahahahahahahahahahahahahahahahahahahahahaha=
Acacia Research - CombiMatrix stock 25,890,408 22,950,551
hahahahahahahahahahahahahahahahahahahahahahahaha= hahahahahahahahahahahahahahahahahahahahahahahaha=

Note: 2002 share and per-share information gives effect to Acacia
Research Corporation's recapitalization transaction as of
January 1, 2002.

Keev · 10-22-2003, 03:36 PM

ACACIA TECHNOLOGIES GROUP
(A Division of Acacia Research Corporation)
SUMMARY FINANCIAL INFORMATION
(In thousands)
(Unaudited)

GROUP BALANCE SHEET INFORMATION

September 30, December 31,
2003 2002
---- ----

Total Assets $41,532 $47,212
------ ------
Total Liabilities $4,694 $5,183
------ ------
Minority Interests $1,130 $1,487
------ ------
Total Stockholders' Equity $35,708 $40,542
------ ------

GROUP STATEMENTS OF OPERATIONS

Three Months Ended
------------------------------
September 30, September 30,
2003 2002
-------------- --------------
Revenues:
License fee income $186 $43
-------------- --------------
Total revenues 186 43
-------------- --------------
Operating expenses:
Marketing, general and administrative
expenses 955 1,423
Legal expenses - patents 598 690
Amortization of patents 125 465
-------------- --------------
Total operating expenses 1,678 2,578
-------------- --------------
Operating loss (1,492) (2,535)
-------------- --------------
Other income (expenses) 160 (2,816)
-------------- --------------
Loss from continuing operations before
income taxes and minority interests (1,332) (5,351)

Benefit for income taxes 36 253
-------------- --------------
Loss from continuing operations before
minority interests (1,296) (5,098)

Minority interests - 23
-------------- --------------
Loss from continuing operations (1,296) (5,075)

Discontinued operations
Estimated loss on disposal of
Soundbreak.com - (200)
-------------- --------------
Division net loss $(1,296) $(5,275)
hahahahahahahahahahahahahahahahahahahahahahahahaha hahaha hahahahahahahahahahahahahahahahahahahahahahahahaha hahaha

COMBIMATRIX GROUP
(A Division of Acacia Research Corporation)
SUMMARY FINANCIAL INFORMATION
(In thousands)
(Unaudited)

GROUP BALANCE SHEET INFORMATION

September 30, December 31,
2003 2002
---- ----

Total Assets $52,721 $49,973
------ ------
Total Liabilities $23,439 $13,972
------ ------
Minority Interests $- $684
------ ------
Total Stockholders' Equity $29,282 $35,317
------ ------

GROUP STATEMENTS OF OPERATIONS

Three Months Ended
-------------------------------
September 30, September 30,
2003 2002
------------- -------------
Revenues:
Product revenue $171 $23
Grant and contract revenue 10 113
------------- -------------
Total revenues 181 136
------------- -------------
Operating expenses:
Cost of sales 17 6
Research and development expenses 1,726 6,449
Non-cash compensation expense -
research and development 243 753
Marketing, general and administrative
expenses 2,122 2,614
Non-cash compensation expense -
marketing, general and administrative 421 1,263
Amortization of patents 274 85
Legal settlement charges - 18,471
------------- -------------
Total operating expenses 4,803 29,641
------------- -------------
Operating loss (4,622) (29,505)
------------- -------------
Other income 52 67
------------- -------------
Loss from operations before income
taxes and minority interests (4,570) (29,438)

Benefit for income taxes 34 34
------------- -------------
Loss from operations before minority
interests (4,536) (29,404)

Minority interests - 14,057
------------- -------------
Division net loss $(4,536) $(15,347)
hahahahahahahahahahahahahahahahahahahahahahahaha= hahahahahahahahahahahahahahahahahahahahahahahaha=

10-22-2003, 03:30 PM	#1
Keev Confirmed User Join Date: May 2001 Posts: 5,335	Acacia Reports Earnings http://news.moneycentral.msn.com/tic...mbo l=US:ACTG __________________ ReliableServers.com - NO REF LINK!

10-22-2003, 03:33 PM	#2
Keev Confirmed User Join Date: May 2001 Posts: 5,335	Acacia Research Corporation ACTGCBMX today reported results for the three months ended September 30, 2003. Acacia Research Corporation comprises two operating groups, the Acacia Technologies group and the CombiMatrix group. "The Acacia Technologies group entered into 16 new licensing agreements for its Digital Media Transmission technology and recognized $186,000 of licensing revenues during the quarter, which did not include third quarter license fees due from a number of licensees, which will be recognized as revenues when received in the fourth quarter. We entered into 12 additional licensing agreements in the three weeks since the end of the third quarter and estimate annualized revenues to be between approximately $1.1 million and $1.5 million from licensing agreements executed to date, based on information provided by our licensees," commented Chairman and CEO, Paul Ryan. "The CombiMatrix group progressed in its strategic alliances with Roche and Toppan in the development of its microarray products and expanded its drug discovery, diagnostics and nanomaterials initiatives with new alliances and collaborations. During the third quarter the CombiMatrix group recognized revenues of $181,000 and also received $3,141,000 in payments from Roche, which were recorded as deferred revenues, bringing total cash payments received from Roche since the inception of our strategic alliance to $26,444,000," stated CombiMatrix CEO and President, Dr. Amit Kumar. Acacia Research Corporation Consolidated Financial Results Consolidated revenues for the third quarter of 2003 were $367,000 versus $179,000 in the comparable 2002 period. Third quarter 2003 revenues were primarily comprised of Digital Media Transmission ("DMT") license fees recognized by the Acacia Technologies group and revenue recognized by the CombiMatrix group related to the sale of a DNA microarray synthesizer to the Nihon Gene Research Laboratory ("NGRL") and service and maintenance contract revenue recognized related to a DNA microarray synthesizer system sold to Keio University School of Medicine. The third quarter 2003 consolidated net loss was $5,832,000 versus $20,622,000 in the comparable 2002 period. The third quarter 2003 consolidated loss from operations before minority interests was $5,832,000 versus $34,502,000 in the comparable 2002 period. The third quarter 2002 consolidated net loss included legal settlement charges totaling $18,471,000, primarily comprised of a non-cash charge for the fair value of CombiMatrix Corporation common shares issued pursuant to the terms of the related settlement agreement. The third quarter 2002 consolidated net loss also included a non-cash impairment charge totaling $2,748,000 related to a decline in fair value of a cost-method investment. Included in the third quarter 2003 consolidated net loss are non-cash charges totaling $1,417,000, comprised of non-cash stock compensation amortization charges of $664,000, non-cash patent amortization charges of $399,000 and depreciation charges totaling $354,000. Non-cash stock compensation amortization charges, non-cash patent amortization charges and depreciation charges totaled $2,016,000, $550,000 and $429,000, respectively, in the comparable 2002 period. Consolidated research and development expenses, comprised of costs incurred by the CombiMatrix group, decreased to $1,726,000 from $6,449,000 in the comparable 2002 period, primarily due to the CombiMatrix group's completion of several research and development projects in the third and fourth quarters of 2002 pursuant to its agreements with Roche Diagnostics, GmbH ("Roche"), resulting in a reduction of related research and development expenses during 2003, as compared to 2002. Consolidated marketing, general and administrative expenses decreased to $3,675,000 from $4,727,000 in the comparable 2002 period, primarily due to a reduction in professional fees related to Acacia Research Corporation's recapitalization and merger transactions completed in December 2002, a reduction in corporate legal expenses, and a reduction in overhead due to reduced general and administrative personnel compared to the prior year quarter. The decrease was partially offset by an increase in costs related to Acacia Technologies group's ongoing DMT patent commercialization and enforcement efforts, including increased legal and engineering costs related to new patent claims and the identification of additional potential licensees of our DMT technology. Minority interests in the net losses of subsidiaries decreased to zero from $14,080,000 in the comparable 2002 period, due to Acacia Research Corporation's acquisition of the remaining ownership interests in CombiMatrix Corporation in December 2002 and in Advanced Material Sciences and CombiMatrix KK in July 2003. __________________ ReliableServers.com - NO REF LINK!

10-22-2003, 03:35 PM	#3
Keev Confirmed User Join Date: May 2001 Posts: 5,335	CONSOLIDATED BALANCE SHEET INFORMATION September 30, December 31, 2003 2002 ---- ---- Total Assets $94,094 $97,071 ------ ------ Total Liabilities $27,974 $19,041 ------ ------ Minority Interests $1,130 $2,171 ------ ------ Total Stockholders' Equity $64,990 $75,859 ------ ------ CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended --------------------------- September 30, September 30, 2003 2002 ------------- ------------- Revenues: License fee income $186 $43 Product revenue 171 23 Grant and contract revenue 10 113 ------------- ------------- Total revenues 367 179 ------------- ------------- Operating expenses: Cost of sales 17 6 Research and development expenses 1,726 6,449 Non-cash stock compensation expense - research and development 243 753 Marketing, general and administrative expenses 3,675 4,727 Non-cash stock compensation expense - marketing, general and administrative 421 1,263 Amortization of patents 399 550 Legal settlement charges - 18,471 ------------- ------------- Total operating expenses 6,481 32,219 ------------- ------------- Operating loss (6,114) (32,040) ------------- ------------- Other income (expenses) 212 (2,749) ------------- ------------- Loss from operations before income taxes and minority interests (5,902) (34,789) Benefit for income taxes 70 287 ------------- ------------- Loss from operations before minority interests (5,832) (34,502) Minority interests - 14,080 ------------- ------------- Loss from continuing operations (5,832) (20,422) Discontinued operations: Estimated loss on disposal of Soundbreak.com - (200) ------------- ------------- Net loss $(5,832) $(20,622) hahahahahahahahahahahahahahahahahahahahahahahaha= hahahahahahahahahahahahahahahahahahahahahahahaha= Loss per common share: Attributable to the Acacia Technologies group: Net loss $(1,296) $(5,275) Basic and diluted per share (0.07) (0.27) Attributable to the CombiMatrix group: Net loss $(4,536) $(15,347) Basic and diluted per share (0.18) (0.67) Weighted average shares - basic and diluted: Acacia Research - Acacia Technologies stock 19,645,949 19,640,808 hahahahahahahahahahahahahahahahahahahahahahahaha= hahahahahahahahahahahahahahahahahahahahahahahaha= Acacia Research - CombiMatrix stock 25,890,408 22,950,551 hahahahahahahahahahahahahahahahahahahahahahahaha= hahahahahahahahahahahahahahahahahahahahahahahaha= Note: 2002 share and per-share information gives effect to Acacia Research Corporation's recapitalization transaction as of January 1, 2002. __________________ ReliableServers.com - NO REF LINK!

10-22-2003, 03:36 PM	#4
Keev Confirmed User Join Date: May 2001 Posts: 5,335	ACACIA TECHNOLOGIES GROUP (A Division of Acacia Research Corporation) SUMMARY FINANCIAL INFORMATION (In thousands) (Unaudited) GROUP BALANCE SHEET INFORMATION September 30, December 31, 2003 2002 ---- ---- Total Assets $41,532 $47,212 ------ ------ Total Liabilities $4,694 $5,183 ------ ------ Minority Interests $1,130 $1,487 ------ ------ Total Stockholders' Equity $35,708 $40,542 ------ ------ GROUP STATEMENTS OF OPERATIONS Three Months Ended ------------------------------ September 30, September 30, 2003 2002 -------------- -------------- Revenues: License fee income $186 $43 -------------- -------------- Total revenues 186 43 -------------- -------------- Operating expenses: Marketing, general and administrative expenses 955 1,423 Legal expenses - patents 598 690 Amortization of patents 125 465 -------------- -------------- Total operating expenses 1,678 2,578 -------------- -------------- Operating loss (1,492) (2,535) -------------- -------------- Other income (expenses) 160 (2,816) -------------- -------------- Loss from continuing operations before income taxes and minority interests (1,332) (5,351) Benefit for income taxes 36 253 -------------- -------------- Loss from continuing operations before minority interests (1,296) (5,098) Minority interests - 23 -------------- -------------- Loss from continuing operations (1,296) (5,075) Discontinued operations Estimated loss on disposal of Soundbreak.com - (200) -------------- -------------- Division net loss $(1,296) $(5,275) hahahahahahahahahahahahahahahahahahahahahahahahaha hahaha hahahahahahahahahahahahahahahahahahahahahahahahaha hahaha COMBIMATRIX GROUP (A Division of Acacia Research Corporation) SUMMARY FINANCIAL INFORMATION (In thousands) (Unaudited) GROUP BALANCE SHEET INFORMATION September 30, December 31, 2003 2002 ---- ---- Total Assets $52,721 $49,973 ------ ------ Total Liabilities $23,439 $13,972 ------ ------ Minority Interests $- $684 ------ ------ Total Stockholders' Equity $29,282 $35,317 ------ ------ GROUP STATEMENTS OF OPERATIONS Three Months Ended ------------------------------- September 30, September 30, 2003 2002 ------------- ------------- Revenues: Product revenue $171 $23 Grant and contract revenue 10 113 ------------- ------------- Total revenues 181 136 ------------- ------------- Operating expenses: Cost of sales 17 6 Research and development expenses 1,726 6,449 Non-cash compensation expense - research and development 243 753 Marketing, general and administrative expenses 2,122 2,614 Non-cash compensation expense - marketing, general and administrative 421 1,263 Amortization of patents 274 85 Legal settlement charges - 18,471 ------------- ------------- Total operating expenses 4,803 29,641 ------------- ------------- Operating loss (4,622) (29,505) ------------- ------------- Other income 52 67 ------------- ------------- Loss from operations before income taxes and minority interests (4,570) (29,438) Benefit for income taxes 34 34 ------------- ------------- Loss from operations before minority interests (4,536) (29,404) Minority interests - 14,057 ------------- ------------- Division net loss $(4,536) $(15,347) hahahahahahahahahahahahahahahahahahahahahahahaha= hahahahahahahahahahahahahahahahahahahahahahahaha= __________________ ReliableServers.com - NO REF LINK!