SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adeia Inc. (ADEA) on Monday reported first-quarter earnings of $899,000.
On a per-share basis, the San Jose, California-based company said it had profit of 1 cent. Earnings, adjusted for one-time gains and costs, were 25 cents per share.
The provider of chip technology for small electronic devices posted revenue of $83.4 million in the period.
Adeia expects full-year revenue in the range of $380 million to $420 million.
Adeia shares have dropped 19% since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.99, an increase of 40% in the last 12 months.
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