SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adeia Inc. (ADEA) on Tuesday reported second-quarter net income of $8.4 million.
On a per-share basis, the San Jose, California-based company said it had net income of 7 cents. Earnings, adjusted for amortization costs and stock option expense, came to 28 cents per share.
The provider of chip technology for small electronic devices posted revenue of $87.4 million in the period.
Adeia expects full-year revenue in the range of $380 million to $420 million.
Adeia shares have fallen 21% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.80, a drop of 16% in the last 12 months.
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