Please wait while we load the requested 10-K report or click the link below:
|Investor Relations Contact:|
Chief Financial Officer
Lippert/Heilshorn & Associates
Kirsten Chapman/Moriah Shilton
TESSERA TECHNOLOGIES ANNOUNCES FOURTH QUARTER 2007
- Fourth Quarter 2007 Royalties and License Fees Grew 31 Percent versus Prior Year Quarter
- 2007 Royalties and License Fees Grew 60 Percent versus 2006-
- Signs Definitive Agreement to Acquire FotoNation -
San Jose, Calif., January 31, 2008 Tessera Technologies, Inc. (Nasdaq: TSRA), a leading provider of miniaturization technologies for the electronics industry, announced its results for the fourth quarter and full year ended December 31, 2007.
Revenue Highlights: Fourth Quarter 2007
Total revenue was $53.0 million.
Royalty and license fees were $45.5 million.
Product and service revenue was $7.5 million.
Generally accepted accounting principles (GAAP) net income for the fourth quarter of 2007 was $13.0 million, or $0.27 per diluted share, and included non-cash charges of $4.9 million for stock-based compensation and $1.9 million for deal amortization.
Non-GAAP net income for the fourth quarter of 2007 was $25.1 million, or $0.51 per diluted share. Non-GAAP net income and operating expenses are defined as income and operating expenses adjusted for non-cash tax expense, deal amortization charges, and stock-based compensation. Non-GAAP net income per share equals non-GAAP net income divided by the weighted diluted share count as of that period end.
Solid DRAM and wireless unit growth and new consumer optics licensees drove our full year 2007 royalties and license fees up approximately 60 percent compared to 2006, said Bruce McWilliams, chairman, president and CEO for Tessera. We are currently involved in two enforcement actions, and we believe their successful resolution could greatly increase our wireless market share in 2008.
Our consumer optics business continues to flourish with the recent signing of new consumer optics licensees, Toshiba and Nemotek. Today, we also announced we have signed a definitive agreement to acquire FotoNation, a leading provider of embedded
The following information was filed by Tessera Technologies Inc (TSRA) on Thursday, January 31, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one year to another to evaluate Tessera Technologies Inc's financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Tessera Technologies Inc.