[GRAPHIC OMITTED] Contacts: Rob Stewart
Investor Relations
FOR RELEASE Tel (626) 396-8300
- ----------- Fax (626) 535-0344
November 13, 2001
ACACIA RESEARCH
FILES THIRD QUARTER 10-Q WITH THE SEC
WITH RETROACTIVE RECOGNITION OF TEN PERCENT STOCK DIVIDEND
DECLARED IN EARNINGS PER SHARE COMPUTATIONS
PASADENA, Calif. - (BUSINESS WIRE) - November 13, 2001 - Acacia Research
Corporation (Nasdaq:ACRI) today filed its Form 10-Q for the quarter ended
September 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
October 23, 2001.
The table below compares earnings per share as previously reported in the
Company's October 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
September 30, 2001 September 30, 2000
------------------------- ------------------------
Prior to 10% After 10% Prior to 10% After 10%
Stock Dividend Stock Dividend Stock Dividend Stock 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 website 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.