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Tessera Technologies Announces Third Quarter 2012 Results

Stocks in this article: TSRA

Tessera Technologies, Inc. (NASDAQ: TSRA) (the “Company” or “we”) announced its results for the third quarter ended Sept. 30, 2012. Total revenue for the third quarter of 2012 was $72.7 million. Generally accepted accounting principles (GAAP) net loss for the third quarter of 2012 was $1.1 million, or $0.02 per basic share.

“During the third quarter of 2012, our Intellectual Property teams continued to demonstrate infringement of Tessera, Inc. and Invensas Corporation patents to many manufacturers. We look forward to new long-term licenses that will give our customers freedom of operation under our portfolios of patented ideas,” stated Robert A. Young, chief executive officer and president, Tessera Technologies, Inc. “We also successfully gained initial original equipment manufacturer adoption for our DIMM-IN-A-PACKAGE TM solution for use in Ultrabooks TM and tablets.

“Turning to our DigitalOptics segment, in the third quarter we made further progress towards our goal of shipping our MEMS autofocus technology in the fourth quarter. We also began construction of our optical component manufacturing site in Taiwan and began converting our production facility in Zhuhai, China to enable the manufacture of our next-generation MEMS camera modules, which we anticipate shipping in the first half of 2013.”

Third Quarter 2012

  • Total revenue was $72.7 million.
  • Intellectual Property segment revenue was $57.9 million.
  • DigitalOptics segment revenue was $14.8 million.

Total revenue for the third quarter of 2012 was $72.7 million, compared to $59.3 million of total revenue in the third quarter of the prior year. Intellectual Property segment revenue for the third quarter of 2012 was $57.9 million, compared to $50.3 million in the third quarter of the prior year, which included a nonrecurring $1.0 million license fee. The year-over-year increase was due primarily to the payment from Amkor Technology, Inc. related to the International Court of Arbitration of the International Chamber of Commerce interim award, offset in part by declining royalty income from Micron Technology, Inc. and Powertech Technology Inc.

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