SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adeia Inc. (ADEA) on Monday reported fourth-quarter profit of $73.7 million.
The San Jose, California-based company said it had profit of 65 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to 86 cents per share.
The provider of chip technology for small electronic devices posted revenue of $182.6 million in the period.
For the year, the company reported profit of $111.1 million, or 99 cents per share. Revenue was reported as $443.4 million.
Adeia expects full-year revenue in the range of $395 million to $435 million.
Adeia shares have risen roughly 7% since the beginning of the year. In the final minutes of trading on Monday, shares hit $18.44, a rise of 7% in the last 12 months.
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