Acacia Research Reports Third-Quarter Financial Results

Business Wire, Nov 14, 1997

PASADENA, Calif.--(BUSINESS WIRE)--Nov. 14, 1997--Acacia Research Corp. (Nasdaq/NM:ACRI) Friday reported results for the quarter ended Sept. 30, 1997.

Net loss for the three-month period ended Sept. 30, 1997 was $909,835, or 32 cents per share, versus a net loss of $168,584, or 9 cents per share, for the comparable 1996 period.

Results of the third quarter include non-cash items and other expenses related to Acacia Research's purchase of a majority ownership interest in Soundview Technologies, a company that owns significant technology relating to the implementation of the V-chip.

The accounts of Soundview Technologies are now included in the company's consolidated financial statements in addition to the accounts of two other majority-controlled affiliates, CombiMatrix Corp. and MerkWerks Corp., each of which are developmental stage companies.

Paul R. Ryan, president and chief executive officer, stated, "Third quarter losses were expected as a number of our affiliate companies have increased investment levels in the development of their products and technologies as they move towards commercialization."

Acacia Research Corp. is a diversified capital management company with interests in several enterprises -- CombiMatrix Corp. (drug discovery technology), Greenwich Information Technologies LLC (video- and audio-on-demand technology), MerkWerks Corp. (software development), Soundview Technologies Inc. (V-chip technology), Whitewing Labs Inc. (direct marketer of nutritional supplements), and private investment advisory services.

                     Acacia Research Corp. (ACRI)
                            Earnings Recap
                              (unaudited)

                      Nine months ended       Three Months ended
                    Sept. 30,   Sept. 30,    Sept. 30,   Sept. 30,
                       1997       1996         1997        1996

Net revenues       $  316,919  $3,143,212  $   49,352   $  126,786
Net (loss) income
 (after taxes)    ($2,050,553) $1,012,349 ($  909,835) ($  168,584)
(Loss) earnings
 per share (fully
 diluted)           (89 cents)  38 cents    (32 cents)    (9 cents)
Weighted average
 number of common
 and common
 equivalent shares
 for computation    2,312,438   2,670,234   2,800,486    1,924,574