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Rambus quarterly revenue rises; stock option probe ongoing
Rambus Inc. after Wednesday's closing bell said its second-quarter revenue rose 22% to $48.9 million from the previous year. The increase was mainly due to new patent licensing revenues from agreements announced in the first and second quarter of 2006, said the Los Altos, Calif-based licensing technology company. Rambus added that it can't finalize second-quarter financial results due to an ongoing independent investigation of past stock option grants. Earlier in the day, the company said it plans to restate certain previously issued financial statements to correct errors related to its accounting for stock option expenses.
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