Acacia Research Reports Fourth Quarter and Year End Financial Results.NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif. -- Acacia acacia (əkā`shə), any plant of the large leguminous genus Acacia, often thorny shrubs and trees of the family Leguminosae (pulse family). Research Corporation (Nasdaq:ACTG ACTG Acting ACTG AIDS Clinical Trial Group ACTG Actuating/Actuator )(Nasdaq:CBMX) today reported results for the three months and the year ended December December: see month. 31, 2004. Acacia Research Corporation comprises two operating groups, the Acacia Technologies
n. A mark (´) indicating: a. that a vowel is close or tense, as é in French été. b. that a vowel or syllable has a high or rising pitch, as in Chinese or Ancient Greek. c. ]"Acacia Technologies group revenues for the year ended December 31, 2004 were $4,284,000, comprised of $2,784,000 in revenues from our Digital Media Transmission (DMT See DSL. (R)) licensing program and the recognition of $1,500,000 in deferred revenues from our television V-chip An electronic circuit in a TV that parents can use to block TV programs they consider objectionable for their children. The FCC mandated that post January 1, 2000, all TVs 13" and larger contain the V-Chip. licensing program. During the fourth quarter we reported $779,000 in licensing revenues from our DMT licensing program. We entered into 103 new licenses for our DMT technology in the fourth quarter, including 95 cable TV licenses. We signed an additional 9 licenses since the end of the quarter and have entered into 294 DMT technology licenses to date," commented Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Paul Ryan Paul Ryan may refer to:
adj. 1. Almost exact or correct: the approximate time of the accident. 2. $43 million and will enable us to continue to acquire additional patent portfolios as we move toward our goal of becoming the leading technology licensing company," concluded Mr. Ryan Ryan may refer to: Places
v. t. 1. To lose. A lodestone fired doth presently amit its proper virtue. - Sir T. Browne. Kumar Kumar (from Sanskrit meaning prince or an (unmarried) youth) is an Indian title, given name or family name. As a title it can mean son of a Rājā, prince, or heir apparent and enters in princely compound titles. , CEO and President of CombiMatrix Corporation. E[acute accent]"During the fourth quarter, we established a strategic alliance with Science Applications International Corporation (SAIC SAIC - http://saic.com. ) to jointly develop biothreat identification arrays and entered into an agreement to acquire equity in Leuchemix Corporation, a developer of cancer drugs," concluded Dr. Kumar. E[acute accent]Acacia Research Corporation Consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: E[acute accent]Financial Results E[acute accent]Consolidated revenues for the fourth quarter of 2004 were $1,301,000 versus $534,000 in the comparable 2003 period. Fourth quarter 2004 revenues were comprised of $390,000 in government contract revenues and $132,000 in CustomArray(TM) product and service revenues, all of which were recognized by the CombiMatrix group, and Digital Media Transmission license fee revenues totaling $779,000 recognized by the Acacia Technologies group. E[acute accent]Consolidated revenues for the year ended December 31, 2004 were $23,925,000 versus $1,148,000 in 2003. 2004 revenues were comprised of $17,302,000 in Roche related deferred contract revenues, $1,993,000 in government contract revenues and $346,000 of CustomArray(TM) product and service revenues, all of which were recognized by the CombiMatrix group, and DMT license fee revenues totaling $2,784,000 and V-chip license fee revenues of $1,500,000 recognized by the Acacia Technologies group. E[acute accent]In March 2004, the CombiMatrix group completed all phases of its research and development agreement with Roche and as a result, recognized all previously deferred Roche related contract revenues totaling $17,302,000, in the first quarter of 2004. E[acute accent]As a result of the August 2004 final ruling of non-infringement in the Acacia Technologies group's V-chip litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , in the third quarter of 2004, the Acacia Technologies group recognized $1,500,000 of V-chip related deferred license fee revenues and $668,000 of V-chip related deferred legal costs and recorded an impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. charge of $1,616,000 associated with the write-off Write-Off A reduction in the value of an asset or earnings by the amount of an expense or loss. Companies are able to write off certain expenses that are required to run the business, or have been incurred in the operation of the business and detract from retained revenues. of V-chip related goodwill. The ruling has no impact on the revenues that we have recognized to date from licensees of our patented V-chip technology. E[acute accent]The fourth quarter 2004 consolidated net loss was $5,677,000 versus $5,147,000 in the comparable 2003 period. The fourth quarter 2004 results include non-cash patent amortization, asset depreciation and stock compensation charges totaling $702,000 versus $807,000 in the comparable 2003 period. E[acute accent]The consolidated net loss for the year ended December 31, 2004 was $4,833,000 versus $24,420,000 in 2003. Results for the year ended December 31, 2004 include non-cash patent amortization, asset depreciation and stock compensation charges totaling $3,505,000 versus $4,680,000 in 2003. The 2004 consolidated net loss also includes a non-cash legal settlement charge of $812,000 related to the change in fair value of AR-CombiMatrix common stock potentially issuable in connection with certain anti-dilution provisions Anti-Dilution Provision A provision in an option or a convertible security. It protects an investor from dilution resulting from later issues of stock at a lower price than the investor originally paid. of the September September: see month. 2002 settlement agreement with Nanogen  This article about a company does not make it clear whether the subject meets the Wikipedia criteria for . , Inc. The anti-dilution provisions
expire expire /ex·pire/ (ek-spi´er)1. to exhale. 2. to die. ex·pire v. 1. To breathe one's last breath; die. 2. To exhale. in September 2005. E[acute accent]Consolidated research and development expenses for the year ended December 31, 2004, comprised solely of costs incurred by the CombiMatrix group, were $7,168,000 (including government contract costs) versus $8,098,000 in 2003. Research and development activities for the year ended December 31, 2004 included increased costs incurred in connection with the CombiMatrix group's commitments under its biowarfare detection contract with the Department of Defense awarded in March 2004 and costs related to other internal research and development efforts in the areas of genomics ge·no·mics n. The study of all of the nucleotide sequences, including structural genes, regulatory sequences, and noncoding DNA segments, in the chromosomes of an organism. , drug discovery and development and material sciences. Research and development expenses in the 2003 period related primarily to the CombiMatrix group's research and development agreements with Roche, which were completed in the first quarter of 2004. E[acute accent]Marketing, general and administrative expenses for the year ended December 31, 2004 increased to $17,559,000 from $14,917,000 in 2003, due primarily to the addition of licensing and business development personnel for the Acacia Technologies group, an increase in the Acacia Technologies group's patent related commercialization expenses, an increase in marketing and sales costs related to the launch of the CombiMatrix group's CustomArray(TM) DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. array platform beginning in March 2004 and an increase in corporate professional fees related to Sarbanes-Oxley compliance projects and related efforts at both operating groups. The Acacia Technologies group's patent related legal expenses, excluding V-chip related legal fees described above, increased to $2,465,000 in 2004, as compared to $1,886,000 in 2003, due to an increase in costs incurred in connection with the Acacia Technologies group's ongoing DMT patent commercialization and enforcement programs, including increased legal costs related to new patent claims and the identification of additional potential licensees of our DMT technology and increased patent enforcement costs related to ongoing DMT patent related litigation. E[acute accent]Financial Condition E[acute accent]Total consolidated assets were $88,327,000 as of December 31, 2004 compared to $90,040,000 as of December 31, 2003. Cash and cash equivalents and short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. investments on a consolidated basis totaled $52,358,000 as of December 31, 2004 compared to $50,500,000 as of December 31, 2003. E[acute accent]In February February: see month. 2005, Acacia Research Corporation raised gross proceeds of $19,600,000 through the sale of 3,500,000 shares of Acacia Research-Acacia Technologies common stock at a price of $5.60 per share in a registered direct offering. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). raised of approximately $19,575,000, which are net of related issuance costs, were attributed to the Acacia Technologies group. All of the shares of Acacia Research-Acacia Technologies common stock were offered pursuant to an effective registration statement previously filed with the Securities and Exchange Commission. E[acute accent]Acacia Technologies Group E[acute accent](A Division of Acacia Research Corporation) E[acute accent]Financial Results E[acute accent]DMT license fee revenues for the fourth quarter of 2004 were $779,000 versus $481,000 in the comparable 2003 period. DMT license fee revenues for the year ended December 31, 2004 were $2,784,000 versus $692,000 in the comparable 2003 period. To date the Acacia Technologies group has entered into 294 license agreements for its DMT technology, including 107 cable TV licenses, 182 licenses for online entertainment, movies, news, sports, e-learning (Electronic-LEARNING) An umbrella term for providing computer instruction (courseware) online over the public Internet, private distance learning networks or inhouse via an intranet. See CBT. and corporate websites and licenses with 5 companies that provide over 90% of video-on-demand The ability to deliver a movie, sports event or other video program to a TV set whenever the customer requests it. Video-on-demand (VOD) typically refers to free and paid programs from the cable TV companies or the telephone companies that offer video over DSL lines. TV entertainment to the hotel industry in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . All of the Acacia Technologies group's material DMT license agreements provide for license fee payments to be made by the respective licensees over the term of the licenses. E[acute accent]As a result of the August 2004 final ruling of non-infringement in the Acacia Technologies group's V-chip litigation, in the third quarter of 2004, the Acacia Technologies group recognized $1,500,000 of V-chip related deferred license fee revenues and $668,000 of V-chip related deferred legal costs and recorded an impairment charge of $1,616,000 associated with the write-off of V-chip related goodwill. The ruling has no impact on the revenues that we have recognized to date from licensees of our patented V-chip technology. E[acute accent]The fourth quarter 2004 division net loss was $1,559,000 versus $1,082,000 in the comparable 2003 period. Included in the fourth quarter 2004 divisional results are non-cash patent amortization and depreciation charges totaling $139,000 versus $145,000 in the comparable 2003 period. E[acute accent]The division net loss for the year ended December 31, 2004 was $5,543,000 versus $5,451,000 in 2003. In addition to the non-cash V-chip related goodwill impairment charge described above, the results for 2004 also included non-cash patent amortization and depreciation charges totaling $550,000 versus $616,000 in 2003. The net loss for 2003 also included a non-cash charge Non-Cash Charge A charge off, made by a company against earnings, that does not require an initial outlay of cash. Notes: Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet. totaling $207,000 related to the write-down Write-Down Reducing the book value of an asset because it is overvalued compared to the market value. Notes: This is usually reflected in the company's income statement as an expense, thereby reducing net income. of our investment in ADX ADX Average Directional Movement Index ADX Automatic Data Exchange Adx Adrenodoxin ADX Adrenalectomized ADX Accumulation/Distribution Index ADX Air Defense Exercise ADX Administrative Maximum Facility ADX Address Cross Reference Corporation. E[acute accent]Marketing, general and administrative expenses for the year ended December 31, 2004 increased to $5,049,000 from $4,317,000 in 2003, due primarily to the addition of licensing and business development personnel for the Acacia Technologies group, an increase in the Acacia Technologies group's patent related commercialization expenses and an increase in corporate professional fees related to the group's Sarbanes-Oxley compliance projects and related efforts. The Acacia Technologies group's patent related legal expenses, excluding V-chip related legal fees described above, increased to $2,465,000 for the year ended December 31, 2004 compared to $1,886,000 in 2003, due to an increase in costs incurred in connection with the Acacia Technologies group's ongoing DMT patent commercialization and enforcement programs, including increased legal costs related to new patent claims and the identification of additional potential licensees of our DMT technology and increased patent enforcement costs related to ongoing DMT patent related litigation. E[acute accent]Financial Condition E[acute accent]Total assets for the Acacia Technologies group were $33,058,000 as of December 31, 2004 compared to $39,978,000 as of December 31, 2003. Cash and cash equivalents and short-term investments totaled $28,646,000 as of December 31, 2004 compared to $33,201,000 as of December 31, 2003. E[acute accent]In February 2005, Acacia Research Corporation raised gross proceeds of $19,600,000 through the sale of 3,500,000 shares of Acacia Research-Acacia Technologies common stock at a price of $5.60 per share in a registered direct offering. Net proceeds raised of approximately $19,575,000, which are net of related issuance costs, were attributed to the Acacia Technologies group. E[acute accent]CombiMatrix Group E[acute accent](A Division of Acacia Research Corporation) E[acute accent]Financial Results E[acute accent]Revenues for the fourth quarter of 2004 were $522,000 versus $53,000 in the comparable 2003 period. Fourth quarter 2004 revenues were comprised of $390,000 of government contract revenues and $132,000 of CustomArray(TM) product and service revenues. E[acute accent]Revenues for the year ended December 31, 2004 were $19,641,000 versus $456,000 in 2003. Revenues for the year ended December 31, 2004 were comprised of $17,302,000 in Roche related deferred contract revenues, $1,993,000 in government contract revenues and $346,000 of CustomArray(TM) product and service revenues. E[acute accent]Government contract revenues relate to the CombiMatrix group's development of biowarfare detection technology under a $5.9 million Department of Defense contract awarded in March 2004. E[acute accent]In March 2004, the CombiMatrix group completed all phases of its research and development agreement with Roche and as a result, recognized all previously deferred Roche related contract revenues totaling $17,302,000, in the first quarter of 2004. E[acute accent]The fourth quarter 2004 division net loss was $4,118,000 versus $4,065,000 in the comparable 2003 period. The fourth quarter 2004 results include non-cash patent amortization, asset depreciation and stock compensation charges totaling $563,000 versus $662,000 in the comparable 2003 period. E[acute accent]Division net income for the year ended December 31, 2004 was $710,000 versus a net loss of $18,969,000 in 2003. Results for the year ended December 31, 2004 include non-cash patent amortization, asset depreciation and stock compensation charges totaling $2,955,000 versus $4,064,000 in 2003. The decrease in non-cash charges is due primarily to the accelerated method of amortization used to amortize amortize To write off gradually and systematically a given amount of money within a specific number of time periods. For example, an accountant amortizes the cost of a long-term asset by deducting a portion of that cost against income in each period. the CombiMatrix group's deferred stock compensation balance, which was fully amortized as of December 31, 2004. Net income for 2004 also includes a non-cash legal settlement charge of $812,000 related to the change in fair value of AR-CombiMatrix common stock potentially issuable in connection with certain anti-dilution provisions of the September 2002 settlement agreement with Nanogen, Inc. The anti-dilution provisions expire in September 2005. E[acute accent]Research and development expenses for the year ended December 31, 2004 were $7,168,000 (including government contract costs) versus $8,098,000 in 2003. Research and development activities for the year ended December 31, 2004 included increased costs incurred in connection with the CombiMatrix group's commitments under its biowarfare detection contract with the Department of Defense awarded in March 2004 and costs related to other internal research and development efforts in the areas of genomics, drug discovery and development and material sciences. Research and development expenses in 2003 related primarily to the CombiMatrix group's research and development agreements with Roche, which were completed in the first quarter of 2004. E[acute accent]Marketing, general and administrative expenses for the year ended December 31, 2004 increased to $9,377,000 from $8,714,000 in 2003, due primarily to an increase in marketing and sales costs related to the launch of the CombiMatrix group's CustomArray(TM) DNA array platform beginning in March 2004 and an increase in corporate professional fees related to the group's Sarbanes-Oxley compliance projects and related efforts. E[acute accent]Financial Condition E[acute accent]Total assets for the CombiMatrix group were $55,388,000 as of December 31, 2004 compared to $50,161,000 as of December 31, 2003. Cash and cash equivalents and short-term investments totaled $23,712,000 as of December 31, 2004 compared to $17,299,000 as of December 31, 2003. E[acute accent]Business Highlights and Recent Developments E[acute accent]Business highlights of the fourth quarter and recent developments include: E[acute accent]Acacia Technologies group: E[acute accent]--On January January: see month. 31, 2005, Acacia Global Acquisition Corporation acquired the assets of Global Patent Holdings, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a privately held patent holding company based in Northbrook Northbrook, village (1990 pop. 32,308), Cook co., NE Ill., a suburb of Chicago; settled 1836. It was incorporated as Shermerville in 1901 and was reincorporated as Northbrook in 1923. , Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. , which owned 11 patent licensing companies including TechSearch, LLC. The purchase price included $5.0 million in cash and the issuance of approximately 3.9 million shares of Acacia Research-Acacia Technologies common stock. The acquisition gives the Acacia Technologies group ownership of companies that control 27 patent portfolios, which include 120 U.S. patents and certain foreign counterparts, and cover technologies used in a wide variety of industries including:
Audio/Video Enhancement and Synchronization
These patented technologies generally relate to the use of a
noise reduction filtering system for digital video
compression, and for video and audio signals received by
digital radios and video displays. Other aspects of the
technologies generally relate to the synchronization of
audio/video signals. These technologies can be used by
broadcasters, broadcast equipment manufacturers, other
electronics manufacturers, and low frame rate video
production, such as that used on the Internet.
Broadcast Data Retrieval
This patented technology generally relates to a system for
broadcasting and receiving programming content together with
supplemental data such as the title of a song, artist, content
description or a catalog number, which can be stored and
recalled for later viewing. This technology can be used in
satellite radio, and other broadcasting where data is
transmitted along with the content.
Computer Memory Cache Coherency
This patented technology generally relates to interface
circuits used by intelligent peripheral devices with cache
memory to communicate with the main computer memory. By
synchronizing main computer memory and main cache memory,
peripheral devices such as graphics processors can operate at
much higher speeds, without costs associated with their own
memory. This technology can be used in desktop, notebook and
server computer systems.
Credit Card Fraud Protection
This patented technology generally relates to a computerized
system for protecting retailers and consumers engaged in
credit card, check card and debit transactions. The system
includes an electronic card reader, and the generation and use
of a transaction number, which specifically identifies each
transaction processed within the system. As a result, the
retailer does not necessarily have to print detailed
information concerning the cardholder's identity or account
number on the customer's receipt.
Database Management
This patented technology generally relates to the improved
combination, display and coordination of certain information
from data tables in a relational database software program.
The user is able to easily track the impact of a change to one
table on other tables in the program through various tools
including a graphical representation.
Data Encryption and Product Activation
These patented technologies generally relate to accessing
clear data and encrypted data via an identification label.
Once decrypted, the clear and decrypted data are combined to
activate software programs and other files. Other aspects of
the technologies generally relate to the use of an operating
system to transparently create an encrypted file storage
subsystem to fully secure user files from access by anyone
other than the user.
Digital Video Production
These patented technologies generally relate to features that
can be found in production video processing equipment. They
cover improved methods of equipment interconnection, aspects
of graphical user interface displays and automation of video
processing. These features allow ease of equipment
interconnection, clearer information display and automation of
video production tasks previously performed manually. Other
aspects of the technologies generally relate to automatic
color correction, commonly used when transferring film to
video, and certain 3D effects, commonly used in video scene
transitions.
Dynamic Manufacturing Modeling
This patented technology generally relates to a modeling and
control process used to decrease costs and increase production
for factory operations. Such simulation modeling can include a
variety of parameters such as products, fabrication sequences,
collections of job sets, scheduling rules and machine
reliability standards. This technology can be used for
exacting manufacturing processes such as semiconductor
fabrication.
Enhanced Internet Navigation
These patented technologies generally relate to enhanced
Internet navigation by retrieving a page from a hyper-linked
website for retrieval offline on a personal computer. This
enables certain website content to be saved, retrieved and
accessed locally, without the need for Internet connectivity.
Other aspects of the technologies generally relate to
information distribution and processing via the use of a
linking reference to access sets of data. These technologies
can be used in email transmissions with links to websites,
special offers and other information.
Image Resolution Enhancement
This patented technology generally relates to the modification
of a video or printed display to improve the perceived image
quality beyond the basic pixel resolution of the display. The
apparent improvement in the resolution of an image occurs
without requiring an increase in the resolution of the signal
or input. This technology can be used in certain CRT, plasma
and LCD televisions and displays, low resolution cameras such
as camera phones, and consumer and commercial printers.
Interactive Data Sharing
This patented technology generally relates to the real time
sharing of changes to content, enabling users to interactively
view, change and add to the content from multiple remote
terminals. This technology can be used in certain types of
conferencing such as web conferencing, interactive gaming and
other forms of collaborative interactive communication.
Interactive Television
These patented technologies generally relate to various
aspects of interactive television including receivers such as
set-top boxes and certain televisions used in digital
satellite and digital cable systems that permit television
viewers to access interactive television features supplied by
their satellite and cable providers as part of their digital
programming packages. Data, which is associated with the
interactive television features and is broadcast along with
the video signal, is extracted and processed by components
within the receivers, and is then made available to viewers
who choose to access the interactive television features
through their remote control. Examples of such data include
sports scores, weather information, stock updates, interactive
games and movie listings. Other aspects of the technologies
generally relate to the scrambling or encrypting of broadcast
signals whereby the unscrambling or decryption is accomplished
through a removable card, commonly known as a "smart card."
Interstitial Internet Advertising
This patented technology generally relates to the display of
certain advertising, informational and branding messages that
appear between or outside web pages when the user is
conducting a search, by storing the message prior to being
displayed. This technology is most commonly used by travel
based and other reservation based websites.
Microprocessor Enhancement
This patented technology generally relates to an architecture
employed in advanced pipeline microprocessors. This
architecture allows for conditional execution of
microprocessor instructions, and a later determination of
whether the instructions executed should be written back to
memory. By conditionally executing instructions in this
architecture, significant improvements in microprocessor speed
can be achieved. Certain pipelined processor manufacturers are
adopting this method of processing to improve processor speed.
Multi-dimensional Bar Codes
This patented technology generally relates to encoding and
reading a data matrix consisting of an array of data cells
with a border. The data matrix can contain a variety, amount
and depth of information that would not fit onto an ordinary
bar code. This patented technology can have many applications
in the manufacturing, distribution, operations, accounting and
security industries such as tracking the movement of products,
collection of data, improved production capabilities and
anti-counterfeiting.
Network Data Back-Up
This patented technology generally relates to a computer
network system for backing up data and program files listed by
users from networked work stations. User lists are stored
locally, resulting in increased speed and security. This
technology can be used by network software.
Resource Scheduling
This patented technology generally relates to the creation and
maintenance of a schedule through the periodic management and
monitoring of interrelated and interdependent resources from a
database. These resource management tools can be part of
scheduling software used to plan and monitor the use of
facilities, the allocation of manpower and the use and
scheduling of other resources.
Rotational Video Imaging
This patented technology generally relates to a rotational
video imaging device for viewing the interior of a cavity or
structure. This technology can be used for medical devices
such as endoscopes and non-medical devices capable of
noninvasive surveillance and analysis.
Spreadsheet Automation
This patented technology generally relates to automating the
production of worksheet files for use by electronic
spreadsheet programs. Specifically, the patented technology
permits the efficient retrieval of data from external
databases by allowing the user to select specific data from a
database and import the specified data into a spreadsheet
program through uniquely streamlined spreadsheet commands. The
adaptive quality of the technology permits, among other
things, the user to retrieve updated information from an
external database without creating formatting issues in the
user's spreadsheet program.
E[acute accent]CombiMatrix group: E[acute accent]--In October October: see month. 2004, the CombiMatrix group entered into an agreement to acquire up to a one-third ownership interest in Leuchemix, Inc. ("Leuchemix"), a private drug development firm, which is developing several compounds for the treatment of leukemia leukemia (l  kē`mēə), cancerous disorder of the blood-forming tissues (bone marrow, lymphatics, liver, spleen) characterized by excessive production of immature or mature and other cancers. In consideration for the equity ownership
interest, the CombiMatrix group will provide Leuchemix a total of
$4,000,000 to be paid quarterly over the next two years. Dr. Amit Kumar,
CombiMatrix Corporation's CEO, was named a director of Leuchemix.E[acute accent]--In December 2004, the CombiMatrix group launched Design-on-Demand(TM) Arrays, providing researchers with the world's largest and most comprehensive catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. of array expression products for microbial microbial pertaining to or emanating from a microbe. microbial digestion the breakdown of organic material, especially feedstuffs, by microbial organisms. , eukaryotic eukaryotic /eu·kary·ot·ic/ (u?kar-e-ot´ik) pertaining to a eukaryon or to a eukaryote. eukaryotic pertaining to eukaryosis. eukaryotic cells see cell. and viral Meaning "related or caused by a virus," with regard to computers and information technology, the term refers less to a computer virus than it does to information that spreads quickly via the Internet. See viral marketing and viral video. genomes. These arrays offer scientists an affordable and flexible tool to conduct whole-genome expression studies on a wide range of organisms Organisms See also animals; bacteria; biology; plants; zoology. anabolism Biology, Physiology. the synthesis in living organisms of more complex substances from simpler ones. Cf. catabolism. — anabolic, adj. , including Influenza influenza or flu, acute, highly contagious disease caused by a virus; formerly known as the grippe. There are three types of the virus, designated A, B, and C, but only types A and B cause more serious contagious infections. , HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. , Anthrax anthrax (ăn`thrăks), acute infectious disease of animals that can be secondarily transmitted to humans. It is caused by a bacterium (Bacillus anthracis and SARS coronavirus The SARS coronavirus is the virus that causes severe acute respiratory syndrome (SARS).[1] On April 16 2003, following the outbreak of SARS in Asia and secondary cases elsewhere in the world, the World Health Organization (WHO) issued a press release stating that the . There are no minimum order requirements, no set-up fees and no design fees in ordering these arrays. E[acute accent]--In December 2004, the CombiMatrix group and its partner, Nanomaterials Nanomaterials is the study of how materials behave when their dimensions are reduced to the nanoscale. It can also refer to the materials themselves that are used in nanotechnology. Discovery Corporation (NDC NDC National Drug Code NDC NATO Defense College NDC National Documentation Centre (National Hellenic Research Foundation, Athens, Greece) NDC National Dairy Council NDC National Democratic Congress ), achieved a milestone “Milemarker” redirects here. For the American indie rock band, see Milemarker (band). A milestone or kilometre sign is one of a series of numbered markers placed along a road at regular intervals, typically at the side of the road or in a median. with the delivery of a prototype Prototype A first or original model of hardware or software. Prototyping involves the production of functionally useful and trustworthy systems through experimentation with evolving systems. workstation workstation Computer intended for use by one person, but with a much faster processor and more memory than an ordinary personal computer. Workstations are designed for powerful business applications that do large numbers of calculations or require high-speed graphical for the combinatorial discovery and development of new nanomaterials. E[acute accent]A conference call is scheduled for today. The Acacia Technologies Group presentation and Q&A will start at 1:30 p.m. Pacific Time (4:30 p.m. Eastern). The CombiMatrix Group presentation and Q&A session will start at 2:00 p.m. Pacific Time (5:00 p.m. Eastern). E[acute accent]To listen to the presentation by phone, dial (800) 262-1292 for domestic callers and (719) 457-2680 for international callers, both of whom will need to provide the operator with the confirmation code 8768414. A replay of the audio presentation will be available for 30 days at (888) 203-1112 for domestic callers and (719) 457-0820 for international callers, both of whom will need to enter the code 8768414 when prompted. E[acute accent]The call is being webcast by CCBN CCBN Central Coast Bancorp CCBN Charles County Business Network and can be accessed at Acacia's website at www.acaciaresearch.com. E[acute accent]ABOUT ACACIA RESEARCH CORPORATION E[acute accent]Acacia Research Corporation comprises two operating groups, Acacia Technologies group and CombiMatrix group. E[acute accent]The Acacia Technologies group develops, acquires and licenses patented technologies. Acacia controls 29 patent portfolios, which include 126 U.S. patents and certain foreign counterparts, covering technologies used in a wide variety of industries including audio/video-on-demand, digital ad insertion insertion n. the addition of language at a place within an existing typed or written document, which is always suspect unless initialled by all parties. , interactive television, broadcast equipment, data transmission, cache coherency Managing a cache so that data are not lost or overwritten. For example, when data are updated in a cache, but not yet transferred to its target memory or disk, the chance of corruption is greater. Cache coherency is obtained by well-designed algorithms that keep track of the cache. , data file synchronization File synchronization (or 'synching') in computing is the process of making sure that two or more locations contain the same up-to-date files. If you add, change, or delete a file from one location, the synchronization process will add, change, or delete the same file at the other , data matrix bar codes, dynamic manufacturing models, product activation Product activation is a license validation procedure required by some proprietary computer software programs. Specifically, product activation refers to a method where a software application hashes hardware serial numbers and an ID number specific to the product's license (a , encryption The reversible transformation of data from the original (the plaintext) to a difficult-to-interpret format (the ciphertext) as a mechanism for protecting its confidentiality, integrity and sometimes its authenticity. Encryption uses an encryption algorithm and one or more encryption keys. , image resolution and enhancement, scheduling software, interstitial In a separate window. See interstitial ad. (World-Wide Web) interstitial - A World-Wide Web page that appears before the expected content page. Interstitials can be used for advertising (intermercial, transition ad) or to confirm that the user is old enough to view the Internet advertising Delivering ads to Internet users via Web sites, e-mail, ad-supported software and Internet-enabled cellphones. Also called an "ad network," Internet advertising organizations act as a middleman between the advertiser and the Web sites and software publishers that display the ads. , interactive simulation The mathematical representation of the interaction of real-world objects. See scientific application and simulator. Simulation A broad collection of methods used to study and analyze the behavior and performance of actual or theoretical systems. systems, peer to peer network communications, spreadsheet spreadsheet Computer software that allows the user to enter columns and rows of numbers in a ledgerlike format. Any cell of the ledger may contain either data or a formula that describes the value that should be inserted therein based on the values in other cells. programs, endoscopic en·do·scope n. An instrument for examining visually the interior of a bodily canal or a hollow organ such as the colon, bladder, or stomach. en cameras, video noise reduction, and audio/video synchronization (1) See synchronous and synchronous transmission. (2) Ensuring that two sets of data are always the same. See data synchronization. (3) Keeping time-of-day clocks in two devices set to the same time. See NTP. . E[acute accent]The CombiMatrix group is developing a platform technology to rapidly produce customizable arrays, which are semiconductor-based tools for use in identifying and determining the roles of genes, gene mutations Noun 1. gene mutation - (genetics) a mutation due to an intramolecular reorganization of a gene point mutation genetic science, genetics - the branch of biology that studies heredity and variation in organisms and proteins. The CombiMatrix's group's technology has a wide range of potential applications in the areas of genomics, proteomics pro·te·o·mics n. The analysis of the expression, localization, functions, and interactions of the proteins produced by the genes of an organism. , biosensors, drug discovery, drug development, diagnostics (1) Software routines that test hardware components (memory, keyboard, disks, etc.). Diagnostics are often stored in ROM chips and activated on startup. (2) Error messages in a programmer's source code that refer to statements or syntax that the compiler or assembler , combinatorial chemistry Combinatorial chemistry involves the rapid synthesis or the computer simulation of a large number of different but structurally related molecules. Introduction Synthesis of molecules in a combinatorial fashion can quickly lead to large numbers of molecules. , material sciences and nanotechnology nanotechnology: see micromechanics. nanotechnology Manipulation of atoms, molecules, and materials to form structures on the scale of nanometres (billionths of a metre). . E[acute accent]Acacia Research-Acacia Technologies (Nasdaq:ACTG) and Acacia Research-CombiMatrix (Nasdaq:CBMX) are both classes of common stock issued by Acacia Research Corporation and are intended to reflect the performance of the respective operating groups and are not issued by the operating groups. E[acute accent]Information about the Acacia Technologies group and the CombiMatrix group is available at www.acaciaresearch.com. E[acute accent]Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: E[acute accent]This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. and competitive developments and general economic conditions. Our Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , recent and forthcoming Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. , recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
ACACIA RESEARCH CORPORATION
SUMMARY FINANCIAL INFORMATION
(In thousands, except share and per share information)
(Unaudited)
CONSOLIDATED BALANCE SHEET INFORMATION
December 31, December 31,
2004 2003
------------ ------------
Total Assets $ 88,327 $ 90,040
============ ============
Total Liabilities $ 11,913 $ 28,513
============ ============
Minority Interests $ 778 $ 1,127
============ ============
Total Stockholders' Equity $ 75,636 $ 60,400
============ ============
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Three Months For the Twelve Months
Ended Ended
----------------------- -----------------------
December December December December
31, 2004 31, 2003 31, 2004 31, 2003
----------- ----------- ----------- -----------
Revenues:
Research and
development contract $- $- $17,302 $-
License fees 779 481 4,284 692
Government contract 390 - 1,993 -
Service contracts 14 26 116 49
Products 118 27 230 407
----------- ----------- ----------- -----------
Total revenues 1,301 534 23,925 1,148
----------- ----------- ----------- -----------
Operating expenses:
Cost of government
contract revenues 369 - 1,874 -
Cost of product
sales 92 6 173 99
Research and
development expenses 1,362 1,880 5,294 8,098
Non-cash stock
compensation expense
- research and
development - (59) 91 466
Marketing, general
and administrative
expenses 4,938 3,577 17,559 14,917
Non-cash stock
compensation expense
- marketing, general
and administrative 29 134 663 1,189
Goodwill impairment
charge 40 - 1,656 -
Amortization of
patents 400 399 1,597 1,597
Legal settlement
charges 36 - 812 144
----------- ----------- ----------- -----------
Total operating
expenses 7,266 5,937 29,719 26,510
----------- ----------- ----------- -----------
Operating loss (5,965) (5,403) (5,794) (25,362)
----------- ----------- ----------- -----------
Other income
(expenses) 216 162 784 622
----------- ----------- ----------- -----------
Loss from operations
before income taxes
and minority
interests (5,749) (5,241) (5,010) (24,740)
Benefit for income
taxes 69 77 275 273
----------- ----------- ----------- -----------
Loss from operations
before minority
interests (5,680) (5,164) (4,735) (24,467)
Minority interests 3 17 6 47
----------- ----------- ----------- -----------
Loss from continuing
operations (5,677) (5,147) (4,729) (24,420)
Discontinued
operations:
Estimated loss on
disposal of
discontinued
operation - - (104) -
----------- ----------- ----------- -----------
Net loss $(5,677) $(5,147) $(4,833) $(24,420)
=========== =========== =========== ===========
Earnings (Loss) per
share:
Attributable to the
Acacia Technologies
group:
Loss from continuing
operations $(1,559) $(1,082) $(5,439) $(5,451)
Basic and diluted loss
per share (0.08) (0.05) (0.27) (0.28)
Loss from
discontinued
operations $- $- $(104) $-
Basic and diluted loss
per share - - (0.01) -
Net loss $(1,559) $(1,082) $(5,543) $(5,451)
Basic and diluted loss
per share (0.08) (0.05) (0.28) (0.28)
Attributable to the
CombiMatrix group:
Income (loss) from
continuing operations $(4,118) $(4,065) $710 $(18,969)
Basic and diluted
income (loss) per
share (0.13) (0.16) 0.02 (0.76)
Net income (loss) $(4,118) $(4,065) $710 $(18,969)
Basic and diluted
income (loss) per
share (0.13) (0.16) 0.02 (0.76)
Weighted average
shares:
Acacia Research -
Acacia Technologies
stock:
Basic and diluted 19,805,917 19,718,377 19,784,883 19,661,655
=========== =========== =========== ===========
Acacia Research -
CombiMatrix stock:
Basic 31,130,175 26,207,146 29,962,596 24,827,819
=========== =========== =========== ===========
Diluted 31,130,175 26,207,146 30,995,663 24,827,819
=========== =========== =========== ===========
ACACIA TECHNOLOGIES GROUP
(A Division of Acacia Research Corporation)
SUMMARY FINANCIAL INFORMATION
(In thousands)
(Unaudited)
GROUP BALANCE SHEET INFORMATION
December 31, December 31,
2004 2003
------------ ------------
Total Assets $ 33,058 $ 39,978
============ ============
Total Liabilities $ 3,472 $ 4,188
============ ============
Minority Interests $ 778 $ 1,127
============ ============
Total Stockholders' Equity $ 28,808 $ 34,663
============ ============
GROUP STATEMENTS OF OPERATIONS
For the Three For the Twelve
Months Ended Months Ended
------------------- -------------------
December December December December
31, 2004 31, 2003 31, 2004 31, 2003
--------- --------- --------- ---------
Revenues:
License fee income $779 $481 $4,284 $692
--------- --------- --------- ---------
Total revenues 779 481 4,284 692
--------- --------- --------- ---------
Operating expenses:
Marketing, general and
administrative expenses 1,560 1,160 5,049 4,317
Legal expenses - patents 781 451 3,133 1,886
Goodwill impairment charge 40 - 1,656 -
Amortization of patents 126 125 501 502
--------- --------- --------- ---------
Total operating expenses 2,507 1,736 10,339 6,705
--------- --------- --------- ---------
Operating loss (1,728) (1,255) (6,055) (6,013)
--------- --------- --------- ---------
Other income (expenses) 131 113 471 408
--------- --------- --------- ---------
Loss from continuing
operations before income
taxes and minority
interests (1,597) (1,142) (5,584) (5,605)
Benefit for income taxes 35 43 139 137
--------- --------- --------- ---------
Loss from continuing
operations before
minority interests (1,562) (1,099) (5,445) (5,468)
Minority interests 3 17 6 17
--------- --------- --------- ---------
Loss from continuing
operations (1,559) (1,082) (5,439) (5,451)
Discontinued operations:
Estimated loss on disposal
of discontinued operation - - (104) -
--------- --------- --------- ---------
Division net loss $(1,559) $(1,082) $(5,543) $(5,451)
========= ========= ========= =========
COMBIMATRIX GROUP
(A Division of Acacia Research Corporation)
SUMMARY FINANCIAL INFORMATION
(In thousands)
(Unaudited)
GROUP BALANCE SHEET INFORMATION
December 31, December 31,
2004 2003
------------ ------------
Total Assets $ 55,388 $ 50,161
============ ============
Total Liabilities $ 8,560 $ 24,424
============ ============
Minority Interests $ - $ -
============ ============
Total Stockholders' Equity $ 46,828 $ 25,737
============ ============
GROUP STATEMENTS OF OPERATIONS
For the Three For the Twelve
Months Ended Months Ended
------------------- -------------------
December December December December
31, 2004 31, 2003 31, 2004 31, 2003
--------- --------- --------- ---------
Revenues:
Research and development
contract $- $- $17,302 $-
Government contract 390 - 1,993 -
Service contracts 14 26 116 49
Products 118 27 230 407
--------- --------- --------- ---------
Total revenues 522 53 19,641 456
--------- --------- --------- ---------
Operating expenses:
Cost of government
contract revenues 369 - 1,874 -
Cost of product sales 92 6 173 99
Research and development
expenses 1,362 1,880 5,294 8,098
Non-cash compensation
expense - research and
development - (59) 91 466
Marketing, general and
administrative expenses 2,597 1,966 9,377 8,714
Non-cash compensation
expense - marketing,
general and
administrative 29 134 663 1,189
Amortization of patents 274 274 1,096 1,095
Legal settlement charges 36 - 812 144
--------- --------- --------- ---------
Total operating expenses 4,759 4,201 19,380 19,805
--------- --------- --------- ---------
Operating income (loss) (4,237) (4,148) 261 (19,349)
--------- --------- --------- ---------
Other income 85 49 313 214
--------- --------- --------- ---------
Income (loss) from
operations before income
taxes and minority
interests (4,152) (4,099) 574 (19,135)
Benefit for income taxes 34 34 136 136
--------- --------- --------- ---------
Income (loss) from
operations before
minority interests (4,118) (4,065) 710 (18,999)
Minority interests - - - 30
--------- --------- --------- ---------
Division net income (loss) $(4,118) $(4,065) $710 $(18,969)
========= ========= ========= =========
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