Last $29.57 USD
Change Today +0.21 / 0.72%
Volume 245.6K
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As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

tessera technologies inc (TSRA) Key Developments

Tessera Technologies Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter of 2014; Provides Revenue Guidance for the Full Year of 2014 and 2015

Tessera Technologies Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's total revenues were $37.2 million compared with $46.6 million a year ago. The $9.4 million decrease was primarily due to $17.6 million greater episodic revenue in the second quarter of 2013 compared with the second quarter of 2014. Operating income from continuing operations was $0.96 million compared with loss of $4.7 million a year ago. Income before income taxes from continuing operations was $1.4 million compared with loss of $4.4 million a year ago. Income from continuing operations was $2.5 million or $0.05 per diluted share compared with loss of $2.5 million or $0.05 per diluted share a year ago. Net income was $3.8 million or $0.07 per diluted share compared with net loss of $15.8 million or $0.30 per diluted share a year ago. Non-GAAP net income from continuing operations was $10.2 million or $0.19 per diluted share compared with $7.1 million or $0.13 per diluted share a year ago. For the six months, the company's total revenues were $125.5 million compared with $75.2 million a year ago. Operating income from continuing operations was $56.7 million compared with loss of $22.3 million a year ago. Income before income taxes from continuing operations was $57.5 million compared with loss of $21.6 million a year ago. Income from continuing operations was $35.9 million or $0.67 per diluted share compared with loss of $13.8 million or $0.26 per diluted share a year ago. Net income was $24.7 million or $0.46 per diluted share compared with net loss of $60.4 million or $1.14 per diluted share a year ago. Non-GAAP net income from continuing operations was $51.8 million or $0.95 per diluted share compared with $0.8 million or $0.02 per diluted share a year ago. The company expects total revenue for the third quarter of 2014 to be between $92 million and $94 million, which includes a significant episodic amount from the second installment payment in the PTI settlement. The company expects approximately $4.7 million of amortization of intangible assets and $3.2 million of stock-based compensation expense. For the full-year 2014, the company expects total recurring revenue to be approximately $140 million. For the full-year 2015, the company expects total recurring revenue to be approximately $195 million.

Tessera Technologies Inc. Approves Regular Quarterly Dividend, Payable on September 23, 2014

On July 28, 2014, the Board of Directors of Tessera Technologies Inc. approved a regular quarterly dividend of $0.10 per share of common stock, payable on September 23, 2014 to shareholders of record on September 2, 2014.

Tessera Technologies, Inc. and Micron Technology Announce Execution of New Technology and Patent License Agreements

Tessera Technologies Inc. and Micron Technology Inc. announced the execution of new, multiyear technology and patent license agreements. In addition to the new patent license agreement, Tessera's wholly-owned subsidiary Invensas Corporation will license its Multi-Die Face-Down (xFD(TM)) semiconductor packaging technology to Micron and cooperate with Micron on the manufacturing of Micron products that incorporate xFD technology. As part of the agreements, Tessera and Micron will also explore other possible joint development efforts.

Tessera Technologies Inc. to Report Q2, 2014 Results on Aug 04, 2014

Tessera Technologies Inc. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Aug 04, 2014

Tessera Technologies Inc., Q2 2014 Earnings Call, Aug 04, 2014

Tessera Technologies Inc., Q2 2014 Earnings Call, Aug 04, 2014

 

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