SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adeia Inc. (ADEA) on Monday reported first-quarter net income of $22.8 million.
On a per-share basis, the San Jose, California-based company said it had profit of 20 cents. Earnings, adjusted for one-time gains and costs, came to 38 cents per share.
The provider of chip technology for small electronic devices posted revenue of $104.8 million in the period.
Adeia expects full-year revenue in the range of $395 million to $435 million.
Adeia shares have increased 94% since the beginning of the year. In the final minutes of trading on Monday, shares hit $33.50, more than doubling in the last 12 months.
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