Rambus buys back $35 million of 0% convertibles due 2010

By Angela McDaniels

Seattle, Jan. 19 - Rambus Inc. said it bought back $35 million face value of its 0% convertible notes due 2010 during the fourth quarter of 2005 for $29 million in cash.

The Los Altos, Calif., semiconductor technology company recorded a pre-tax gain of $5.4 million on the repurchase.

Primarily as a result of the repurchase of the notes and the repurchase of roughly 1 million shares of common stock for $13 million, Rambus' cash equivalents and marketable securities declined from $388 million at Sept. 30 to $355 million at the end of the year, according to a company news release.

Rambus also repurchased $105 million of the convertibles for $84 million during the third quarter.

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