Reuters: Global Markets: Acacia Research posts wide loss as legal, other costs rise

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Acacia Research posts wide loss as legal, other costs rise Jul 18th 2013, 23:03 Thu Jul 18, 2013 7:03pm EDT (Reuters) - Acacia Research Corp (ACTG.O) posted a second-quarter loss as revenue halved while litigation and other costs rose, sending the patent licensing company's shares tumbling 13 percent after hours. The company, which controls over 260 patent portfolios covering the technology, energy and medical sectors, reported a second-quarter loss of $12.5 million, or 26 cents per share, compared with a profit of $6.3 million, or 13 cents per share, a year earlier. Excluding one-time items, the company earned 13 cents per share. Revenue fell 54 percent to $23.1 million. Analysts on average had expected adjusted earnings of 47 cents a share on revenue of $67 million, according to Thomson Reuters I/B/E/S. Acacia said the economic terms of its patent acquisition deals fluctuate based on the amount of revenues recognized each period, the mix of patent portfolios generating revenue and the terms of agreements executed in the period. The Newport Beach, California-based company also reported litigation and licensing expenses that nearly doubled to $9.9 million, due primarily to an increase in prosecution and enforcement costs and higher third-party consulting fees related to new licensing and enforcement programs. Shares of the company were trading at $21.45 after the bell. They closed at $24.75 on the Nasdaq on Thursday. (Reporting By Aurindom Mukherjee in Bangalore; Editing by Anthony Kurian) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions