$ACTG
ACACIA RESEARCH CORP

2012 Q1 Form 10-Q Financial Statement

#000093454912000017 Filed on April 27, 2012

View on sec.gov

Income Statement

Concept 2012 Q1 2011 Q1
Revenue $99.04M $61.13M
YoY Change 62.02% 53.71%
Cost Of Revenue $7.590M $13.09M
YoY Change -42.02% 234.78%
Gross Profit $91.45M $48.04M
YoY Change 90.36% 33.97%
Gross Profit Margin 92.34% 78.59%
Selling, General & Admin $17.48M $19.35M
YoY Change -9.66% 80.17%
% of Gross Profit 19.11% 40.28%
Research & Development $1.120M $710.0K
YoY Change 57.75% 91.89%
% of Gross Profit 1.22% 1.48%
Depreciation & Amortization $5.158M $3.794M
YoY Change 35.95% 123.18%
% of Gross Profit 5.64% 7.9%
Operating Expenses $23.73M $23.83M
YoY Change -0.42% 86.03%
Operating Profit $64.34M $20.68M
YoY Change 211.22% -10.3%
Interest Expense $60.00K
YoY Change
% of Operating Profit 0.09%
Other Income/Expense, Net $56.00K $30.00K
YoY Change 86.67% 50.0%
Pretax Income $64.40M $20.70M
YoY Change 211.05% 6.89%
Income Tax $14.75M $7.148M
% Of Pretax Income 22.9% 34.52%
Net Earnings $49.93M $12.35M
YoY Change 304.18% -33.26%
Net Earnings / Revenue 50.41% 20.21%
Basic Earnings Per Share $1.08 $0.35
Diluted Earnings Per Share $1.08 $0.34
COMMON SHARES
Basic Shares Outstanding 44.37M shares 35.18M shares
Diluted Shares Outstanding 44.76M shares 36.45M shares

Balance Sheet

Concept 2012 Q1 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $449.7M $313.6M
YoY Change 43.4% 364.59%
Cash & Equivalents $296.9M $313.6M
Short-Term Investments $134.2M
Other Short-Term Assets $2.400M $2.200M
YoY Change 9.09% 46.67%
Inventory
Prepaid Expenses
Receivables $1.280M $1.200M
Other Receivables $0.00 $0.00
Total Short-Term Assets $453.4M $317.0M
YoY Change 43.03% 347.74%
LONG-TERM ASSETS
Property, Plant & Equipment $212.0K $200.0K
YoY Change 6.0% 100.0%
Goodwill $36.20M
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.000M $2.000M
YoY Change 0.0% -9.09%
Other Assets $465.0K $500.0K
YoY Change -7.0% 0.0%
Total Long-Term Assets $210.1M $20.20M
YoY Change 940.08% 1.0%
TOTAL ASSETS
Total Short-Term Assets $453.4M $317.0M
Total Long-Term Assets $210.1M $20.20M
Total Assets $663.5M $337.2M
YoY Change 96.76% 271.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.400M $9.200M
YoY Change -8.7% 13.58%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.50M $30.90M
YoY Change -27.18% 99.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $642.0K $600.0K
YoY Change 7.0% 50.0%
Total Long-Term Liabilities $642.0K $600.0K
YoY Change 7.0% 50.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.50M $30.90M
Total Long-Term Liabilities $642.0K $600.0K
Total Liabilities $55.51M $35.70M
YoY Change 55.48% 117.68%
SHAREHOLDERS EQUITY
Retained Earnings -$15.16M
YoY Change
Common Stock $50.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $604.2M $301.5M
YoY Change
Total Liabilities & Shareholders Equity $663.5M $337.2M
YoY Change 96.76% 271.37%

Cashflow Statement

Concept 2012 Q1 2011 Q1
OPERATING ACTIVITIES
Net Income $49.93M $12.35M
YoY Change 304.18% -33.26%
Depreciation, Depletion And Amortization $5.158M $3.794M
YoY Change 35.95% 123.18%
Cash From Operating Activities $48.95M $36.45M
YoY Change 34.29% 90.85%
INVESTING ACTIVITIES
Capital Expenditures $24.00K $59.00K
YoY Change -59.32% -104.54%
Acquisitions $150.0M $0.00
YoY Change
Other Investing Activities -$274.8M $0.00
YoY Change
Cash From Investing Activities -$276.9M -$704.0K
YoY Change 39230.4% -45.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $219.0M $175.3M
YoY Change 24.92% 34956.8%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $228.7M $175.3M
YoY Change 30.43% -8867.4%
NET CHANGE
Cash From Operating Activities $48.95M $36.45M
Cash From Investing Activities -$276.9M -$704.0K
Cash From Financing Activities $228.7M $175.3M
Net Change In Cash $765.0K $211.1M
YoY Change -99.64% 1236.05%
FREE CASH FLOW
Cash From Operating Activities $48.95M $36.45M
Capital Expenditures $24.00K $59.00K
Free Cash Flow $48.93M $36.39M
YoY Change 34.44% 78.4%

Facts In Submission

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CY2012Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates.&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Acacia believes that, of the significant accounting policies described herein, the accounting policies associated with revenue recognition, stock-based compensation expense, impairment of marketable securities, the determination of the economic useful life of amortizable intangible assets, income taxes and valuation allowances against net deferred tax assets and the application of the acquisition method of accounting for business combinations, require its most difficult, subjective or complex judgments.</font></div></div>
CY2012Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
10237000 USD
CY2011Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 USD
CY2011Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36448005 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45771228 shares
CY2011Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35182811 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44367499 shares
CY2012Q1 actg Accelerated Amortization Expense
AcceleratedAmortizationExpense
442000 USD
CY2011Q1 actg Accelerated Amortization Expense
AcceleratedAmortizationExpense
2383000 USD
CY2011Q1 actg Accrued Patent Acquisition Related Payments
AccruedPatentAcquisitionRelatedPayments
875000 USD
CY2012Q1 actg Available For Sale Securities Amortized Cost Common Stock Investments
AvailableForSaleSecuritiesAmortizedCostCommonStockInvestments
8427000 USD
CY2012Q1 actg Available For Sale Securities Amortized Cost Government Securities
AvailableForSaleSecuritiesAmortizedCostGovernmentSecurities
124762000 USD
CY2012Q1 actg Business Acquisition Deferred Tax Asset
BusinessAcquisitionDeferredTaxAsset
1900000 USD
CY2012Q1 actg Business Acquisition Pro Forma Income From Operations Before Provision For Income Taxes
BusinessAcquisitionProFormaIncomeFromOperationsBeforeProvisionForIncomeTaxes
63762000 USD
CY2011Q1 actg Business Acquisition Pro Forma Income From Operations Before Provision For Income Taxes
BusinessAcquisitionProFormaIncomeFromOperationsBeforeProvisionForIncomeTaxes
16674000 USD
CY2012Q1 actg Business Acquisition Pro Forma Net Income Including Noncontrolling Interests
BusinessAcquisitionProFormaNetIncomeIncludingNoncontrollingInterests
49015000 USD
CY2011Q1 actg Business Acquisition Pro Forma Net Income Including Noncontrolling Interests
BusinessAcquisitionProFormaNetIncomeIncludingNoncontrollingInterests
9526000 USD
CY2012Q1 actg Business Acquisition Pro Forma Net Income Loss Attributable To Noncontrolling Interests
BusinessAcquisitionProFormaNetIncomeLossAttributableToNoncontrollingInterests
275000 USD
CY2011Q1 actg Business Acquisition Pro Forma Net Income Loss Attributable To Noncontrolling Interests
BusinessAcquisitionProFormaNetIncomeLossAttributableToNoncontrollingInterests
-1203000 USD
CY2012Q1 actg Business Acquisition Pro Forma Operating Costs And Expenses
BusinessAcquisitionProFormaOperatingCostsAndExpenses
35334000 USD
CY2011Q1 actg Business Acquisition Pro Forma Operating Costs And Expenses
BusinessAcquisitionProFormaOperatingCostsAndExpenses
44485000 USD
CY2012Q1 actg Business Acquisition Pro Forma Operating Income
BusinessAcquisitionProFormaOperatingIncome
63706000 USD
CY2011Q1 actg Business Acquisition Pro Forma Operating Income
BusinessAcquisitionProFormaOperatingIncome
16645000 USD
CY2011Q1 actg Business Acquisition Pro Forma Other Income
BusinessAcquisitionProFormaOtherIncome
29000 USD
CY2012Q1 actg Business Acquisition Pro Forma Other Income
BusinessAcquisitionProFormaOtherIncome
56000 USD
CY2012Q1 actg Business Acquisition Pro Forma Provision For Income Taxes
BusinessAcquisitionProFormaProvisionForIncomeTaxes
-14747000 USD
CY2011Q1 actg Business Acquisition Pro Forma Provision For Income Taxes
BusinessAcquisitionProFormaProvisionForIncomeTaxes
-7148000 USD
CY2012Q1 actg Business Acquisition Pro Forma Weighted Average Number Of Shares Basic
BusinessAcquisitionProFormaWeightedAverageNumberOfSharesBasic
44367499 shares
CY2011Q1 actg Business Acquisition Pro Forma Weighted Average Number Of Shares Basic
BusinessAcquisitionProFormaWeightedAverageNumberOfSharesBasic
35182811 shares
CY2011Q1 actg Business Acquisition Pro Forma Weighted Average Number Of Shares Diluted
BusinessAcquisitionProFormaWeightedAverageNumberOfSharesDiluted
36448005 shares
CY2012Q1 actg Business Acquisition Pro Forma Weighted Average Number Of Shares Diluted
BusinessAcquisitionProFormaWeightedAverageNumberOfSharesDiluted
45771228 shares
CY2012Q1 actg Business Acquisition Purchase Price Allocation Amortizable Intangible Assets Change From Book And Tax Basis
BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssetsChangeFromBookAndTaxBasis
-150000000 USD
CY2012Q1 actg Cash Paid For Income Taxes
CashPaidForIncomeTaxes
0 USD
CY2012Q1 actg Change In Deferred Tax Liability Business Acquisition
ChangeInDeferredTaxLiabilityBusinessAcquisition
8300000 USD
CY2012Q1 actg Contingent Legal Fees
ContingentLegalFees
3748000 USD
CY2011Q1 actg Research Consulting And Other Expenses Business Development
ResearchConsultingAndOtherExpensesBusinessDevelopment
708000 USD
CY2012 actg Estimated Effective Income Tax Rate
EstimatedEffectiveIncomeTaxRate
0.39
CY2012Q1 actg Gross Proceeds From Issuance Of Common Stock
GrossProceedsFromIssuanceOfCommonStock
225000000 USD
CY2011Q1 actg Income Tax Included In Unrealized Gain On Short Term Investments
IncomeTaxIncludedInUnrealizedGainOnShortTermInvestments
0 USD
CY2012Q1 actg Income Tax Included In Unrealized Gain On Short Term Investments
IncomeTaxIncludedInUnrealizedGainOnShortTermInvestments
396000 USD
CY2011Q1 actg Increase Decrease In Royalties And Contingent Legal Fees Payable
IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable
8976000 USD
CY2012Q1 actg Increase Decrease In Royalties And Contingent Legal Fees Payable
IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable
-9413000 USD
CY2011Q1 actg Interest And Investment Income
InterestAndInvestmentIncome
29000 USD
CY2012Q1 actg Interest And Investment Income
InterestAndInvestmentIncome
56000 USD
CY2011Q1 actg Litigation And Licensing Expenses Patents
LitigationAndLicensingExpensesPatents
3534000 USD
CY2012Q1 actg Litigation And Licensing Expenses Patents
LitigationAndLicensingExpensesPatents
3381000 USD
CY2012Q1 actg Number Of Patent Portfolios
NumberOfPatentPortfolios
212 Number
CY2012Q1 actg Operating Loss Carryforwards Change From Book And Tax Basis
OperatingLossCarryforwardsChangeFromBookAndTaxBasis
46565000 USD
CY2011Q4 actg Operating Loss Carryforwards Federal
OperatingLossCarryforwardsFederal
69062000 USD
CY2011Q4 actg Operating Loss Carryforwards State
OperatingLossCarryforwardsState
61493000 USD
CY2012Q1 actg Operating Loss Carryforwards Tax Basis
OperatingLossCarryforwardsTaxBasis
46565000 USD
CY2011Q4 actg Other Than Temporary Impairment Losses
OtherThanTemporaryImpairmentLosses
469000 USD
CY2012Q1 actg Partners Capital Authorized
PartnersCapitalAuthorized
250000000 USD
CY2011Q4 actg Patents Accumulated Amortization
PatentsAccumulatedAmortization
-36331000 USD
CY2012Q1 actg Patents Accumulated Amortization
PatentsAccumulatedAmortization
41457000 USD
CY2012Q1 actg Patents Net Of Accumulated Amortization
PatentsNetOfAccumulatedAmortization
171262000 USD
CY2011Q4 actg Patents Net Of Accumulated Amortization
PatentsNetOfAccumulatedAmortization
25188000 USD
CY2012Q1 actg Research Consulting And Other Expenses Business Development
ResearchConsultingAndOtherExpensesBusinessDevelopment
1116000 USD
CY2012Q1 actg Royalties And Contingent Legal Fees Payable
RoyaltiesAndContingentLegalFeesPayable
14095000 USD
CY2011Q4 actg Royalties And Contingent Legal Fees Payable
RoyaltiesAndContingentLegalFeesPayable
23508000 USD
CY2012Q1 actg Us Federal Statutory Rate
USFederalStatutoryRate
0.35
CY2012Q1 actg Unrealized Gain Loss On Investment Common Stock
UnrealizedGainLossOnInvestmentCommonStock
1051000 USD
CY2012Q1 actg Unrealized Gain Loss On Investment Government Securities
UnrealizedGainLossOnInvestmentGovernmentSecurities
55000 USD
CY2012Q1 dei Amendment Description
AmendmentDescription
CY2012Q1 dei Amendment Flag
AmendmentFlag
false
CY2012Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2012Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012Q1 dei Document Period End Date
DocumentPeriodEndDate
2012-03-31
CY2012Q1 dei Document Type
DocumentType
10-Q
CY2012Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000934549
CY2011Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
49701283 shares
CY2012Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q1 dei Entity Registrant Name
EntityRegistrantName
ACACIA RESEARCH CORP

Files In Submission

Name View Source Status
0000934549-12-000017-index-headers.html Edgar Link pending
0000934549-12-000017-index.html Edgar Link pending
0000934549-12-000017.txt Edgar Link pending
0000934549-12-000017-xbrl.zip Edgar Link pending
acacialogonoelipsesa01.jpg Edgar Link pending
actg-20110930.xml Edgar Link completed
actg-20110930.xsd Edgar Link pending
actg-20110930_cal.xml Edgar Link unprocessable
actg-20110930_def.xml Edgar Link unprocessable
actg-20110930_lab.xml Edgar Link unprocessable
actg-20110930_pre.xml Edgar Link unprocessable
actg10q033112.htm Edgar Link pending
ex311033112.htm Edgar Link pending
ex312033112.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
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report.css Edgar Link pending
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