Acacia Research to Report Record Quarterly Revenues.Business Editors PASADENA, Calif.--(BUSINESS WIRE)--Sept. 24, 2001 Acacia Research Corporation (Nasdaq:ACRI) announced today that the company is scheduled to report record quarterly revenues when it releases third quarter financial results on Oct. 24. The company's previous record quarterly revenues of $10.1 million were reported in this year's second quarter. "Acacia Research subsidiaries have entered into 12 revenue producing agreements since the beginning of the year, including agreements with Roche Diagnostics Roche Diagnostics Division is a subsidiary of Hoffmann-La Roche which manufactures equipment and reagents for research and medical diagnostic applications. Internally, it is organized into six major business areas: Roche Applied Science, Roche Centralized Diagnostics, Roche , NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. , Thomson Multimedia, Philips Electronics, Hitachi, Samsung, Sanyo, Funai, Daewoo, JVC JVC Victor Company of Japan (or Japan's Victor Company) JVC Jewelers Vigilance Committee JVC Jesuit Volunteer Corps JVC Jet Vane Control (directs VLS-launched missiles) JVC Jonker-Volgenant-Castanon , L.G. Electronics and Orion," 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. "The fundamental value of Acacia Research continues to grow based on both the near-term and future revenues provided by these agreements." "We have continued to build shareholder value thus far in the third quarter," Ryan further commented. "Our CombiMatrix subsidiary entered into a strategic alliance with Roche Diagnostics that provides for payments including royalties, payments for products, and R&D projects as part of a 15-year revenue sharing revenue sharing Funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. agreement for the worldwide distribution of CombiMatrix's products by Roche. CombiMatrix also entered into a license and supply agreement with NASA for the use of its bio-chips and related products. "Our Soundview Technologies subsidiary continued to license its technology to television manufacturers, with the addition of televisions sold under the Orion and Sansui brands and has now entered into royalty licenses with well over half of the industry. The company continues to pursue royalty licenses with the remainder of the television manufacturing industry." Acacia Research is in the strongest financial position in the company's history, including $87 million of cash and short-term investments reported as of June 30, 2001. The company was cash-flow neutral during the second quarter and has no debt or forward equity commitments. About Acacia Research Corporation Acacia Research develops and operates life science and enabling technology companies. The company's core technology opportunity has been developed through its subsidiary, CombiMatrix Corporation. Acacia Research intends to build and acquire companies in the life science and material science fields that will utilize CombiMatrix's biochip biochip Small-scale device, analogous to an integrated circuit, constructed of or used to analyze organic molecules associated with living organisms. One type of theoretical biochip is a small device constructed of large organic molecules, such as proteins, and capable of technology. Acacia Research's Web site is located at www.acaciaresearch.com. This release contains forward-looking statements within the meaning of the "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. " provisions of 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. These statements address future events and conditions concerning the Company's business plans. Such statements are subject to a number of factors and uncertainties, such as future economic conditions, changes in consumer demand, and legislative, regulatory and competitive developments. Acacia Research urges investors to review in detail the risks and uncertainties disclosed in the Company's filings under the Securities Exchange Act of 1934, as amended, including, but not limited to the Company's 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. for the year ended December 31, 2000, the Company's quarterly reports on Form 10-Q Form 10-Q See 10-Q. , and the Company's Registration Statement on Form S-3 filed on February 6, 2001, copies of which can be obtained from the Company or the Securities and Exchange Commission. The Company expressly disclaims any future obligation or undertaking to update or revise any forward-looking statement contained herein. |
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