Rambus Inc. annual report

Arrived in the mail today - the first to arrive in care of E*Trade.

Nice cover.

Inside cover, from Harold Hughes - President & CEO

To Our Stockholders,

"I want to thank you personally for your patience and support during a challenging year for Rambus. . .

Our memory technology has dramatic impact because it is foundational to nearly all digital electronics . . . we place strategic focus on four markets that in combination produce unit shipments in the billions per year: computing, gaming, HDTVs and mobile devices . . .

We're committed to providing the market with powerful memory solutions . . . we're committed to providing the market with a license to speed."

Nice touch thanking us for our patience during the last year. Seriously. I don't wish to be dismissive of that recognition of the beleaguered shareholders . . . but I think that the patience extends well beyond a year.

Page 40 of the annual report sets forth a performance graph comparing Rambus, NASDAQ Index and RDG Semiconductor Index for 75 months. A hundred bucks invested 75 months ago in Rambus Inc. would have taken a very serious hit come December 13, 2006:

Rambus Inc. $23.98
NASDAQ Composite $103.48
RDG Semiconductor Composite $74.95

We are patient, but don't take us for granted.

Be seeing you next week. Bring your best Coke joke.