SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adeia Inc. (ADEA) on Tuesday reported fourth-quarter profit of $36 million.
On a per-share basis, the San Jose, California-based company said it had net income of 32 cents. Earnings, adjusted for one-time gains and costs, came to 47 cents per share.
The provider of chip technology for small electronic devices posted revenue of $119.2 million in the period.
For the year, the company reported profit of $64.6 million, or 57 cents per share. Revenue was reported as $376 million.
Adeia shares have dropped roughly 4% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $13.47, an increase of nearly 9% in the last 12 months.
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