UPDATE 1-Acacia Research swings to Q3 profit

* Q3 EPS $0.70 vs loss $0.11/shr last year?

* Revenue rises more than four-fold

Oct 21 (BestGrowthStock) – Acacia Research Corp (ACTG.O: ), which
acquires and licenses patent rights to various technologies,
posted a record revenue and swung to a quarterly profit, helped
by an increase in new agreements, sending its shares up 11
percent in after-market trade Thursday.

For the July-September quarter, the company earned $24.7
million, or 70 cents a share, compared with a loss of $3.4
million, or 11 cents a share, last year.

Revenue rose nearly four-fold to $64 million.

The company said new revenue agreements rose to 51 from 36
last year during the quarter.

Acacia signed a patent licensing alliance with Japan’s
Renesas Electronics Corp (6723.T: ), a semiconductor speciality
manufacturer.

“We are well positioned to benefit from the new trend of
large companies deciding to generate revenues from their patent
portfolios,” Chief Executive Paul Ryan said in a statement.

The Newport Beach, California-based company’s shares, which
have gained 47 percent in value since reporting second-quarter
results in July, were up 11 percent at $24 during after-market
trade Thursday on Nasdaq.
(Reporting by Isheeta Sanghi in Bangalore; Editing by Don
Sebastian)

UPDATE 1-Acacia Research swings to Q3 profit