SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adeia Inc. (ADEA) on Monday reported third-quarter net income of $8.8 million.
The San Jose, California-based company said it had net income of 8 cents per share. 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 $87.3 million in the period.
Adeia expects full-year revenue in the range of $360 million to $380 million.
Adeia shares have increased 22% since the beginning of the year. The stock has risen 37% in the last 12 months.
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