Acacia Research Files Third Quarter 10-Q With the SEC With Retroactive Recognition of Ten Percent Stock Dividend Declared in Earnings Per Share Computations

Business Wire, Nov 13, 2001

Business Editors

PASADENA, Calif.--(BUSINESS WIRE)--Nov. 13, 2001

Acacia Research Corporation (Nasdaq:ACRI) today filed its Form 10-Q for the quarter ended Sept. 30, 2001, with the Securities and Exchange Commission (the "SEC").

Pursuant to Generally Accepted Accounting Principles, the computations of earnings per share for all periods presented in the third quarter Form 10-Q filed, give retroactive recognition to the ten percent (10%) stock dividend declared by the Company's board of directors as announced by the Company on Oct. 23, 2001.

The table below compares earnings per share as previously reported in the Company's Oct. 24, 2001 third quarter earnings press release to earnings per share after retroactive recognition of the 10% stock dividend for the periods presented:

                         Three Months Ended       Three Months Ended
                           Sept. 30, 2001           Sept. 30, 2000

                        Prior to    After 10%   Prior to   After 10%
                        10% Stock    Stock      10% Stock   Stock
                        Dividend    Dividend    Dividend   Dividend
                        Declared    Declared    Declared   Declared

Loss per common share:
Basic and diluted
   Loss from continuing
    operations            $(0.16)    $(0.14)     $(0.56)    $(0.51)
   Loss from discontinued
    operations                --         --       (0.13)     (0.12)
                          $(0.16)    $(0.14)     $(0.69)    $(0.63)

Weighted average number
 of common and potential
 common shares outstanding
 used in computation of
 loss per share
    Basic and diluted   17,748,097  19,522,906  15,724,930 17,297,423

About Acacia Research Corporation

Acacia Research develops and operates life science and enabling technology companies. The company's core technology opportunity has been developed through its subsidiary, CombiMatrix Corporation. Acacia Research intends to build and acquire companies in the life science and material science fields that will utilize CombiMatrix's biochip technology. Acacia Research's Web site is located at www.acaciaresearch.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.