Rambus Reports First Quarter Financial Results

Business and Financial Highlights:

Generated quarterly revenue of $72.9 million ---- Signed patent and technology license agreements with IBM ---- Received Best IoT Innovation Award for Lensless Smart Sensor ----  GAAP diluted net income per share of $0.08; non-GAAP diluted net income per share of $0.14

SUNNYVALE, Calif.--- Rambus Inc. (RMBS), the innovative technology solutions company that brings invention to market, today reported financial results for the first quarter ended March 31, 2015.

GAAP Financial Results:

Revenue for the first quarter of 2015 was $72.9 million, up 1% on a sequential basis from the fourth quarter of 2014 primarily due to a new license agreement signed with IBM during the first quarter of 2015 and higher royalty revenue from other customers. As compared to the first quarter of 2014, revenue was down 7% primarily due to lower royalty revenue, offset by higher revenue from a new license agreement signed with IBM.

Microsemi Corporation to Acquire Vitesse Semiconductor Corporation

-- Expands differentiated technology offering for strategic communication infrastructure applications and customers
-- Increases traction in carrier, enterprise and industrial-IoT markets enabling broader solution sale
-- Delivers immediate EPS accretion and synergies

ALISO VIEJO, Calif. and CAMARILLO, Calif., March 18, 2015 -- Microsemi Corporation (MSCC), a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, and Vitesse Semiconductor Corporation (VTSS), jointly announced today that Microsemi has entered into a definitive agreement to acquire Vitesse for $5.28 per share through a cash tender offer, representing a premium of 32 percent based on the average closing price of Vitesse's shares of common stock during the 30 trading days ended March 17, 2015. The board of directors of Vitesse unanimously recommends that Vitesse's stockholders tender their shares in the tender offer. The total transaction value is approximately $389 million.

MicroVision Receives $14.5 Million in Component Orders

Delivery to Fortune Global 100 customer scheduled to begin in the second half of 2015

REDMOND, Wash.-- MicroVision, Inc. (MVIS), a leader in innovative ultra-miniature projection display technology, today announced it has received orders totaling $14.5 million for components for its Fortune Global 100 customer.

MicroVision plans to begin shipment of components for these orders in the second half of 2015 and expects fulfillment to continue into 2016. MicroVision and its Fortune Global 100 customer recently entered into a licensing agreement whereby MicroVision granted a non-exclusive license to its patented PicoP® display technology to the Fortune Global 100 company. The components MicroVision is selling to its customer are expected to be incorporated into display modules the Fortune Global 100 has developed. MicroVision will also be entitled to royalty payments upon any sales by its customer of the display modules. MicroVision is currently fulfilling component orders received in the second half of 2014 for this same customer.