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|Company Contact:||Investor Relations Contact:|
|Michael Anthofer||Moriah Shilton|
|Chief Financial Officer||Sr. Director, Investor Relations|
TESSERA TECHNOLOGIES ANNOUNCES FOURTH QUARTER AND FULL YEAR 2011 RESULTS
San Jose, Calif.,- Jan. 26, 2012 Tessera Technologies, Inc. (Nasdaq: TSRA) (the Company or we) announced its results for the fourth quarter and full year ended Dec. 31, 2011.
2011 was a year of change and progress for the Company, stated Robert A. Young, chief executive officer and president, Tessera Technologies, Inc. We made major changes to our executive team and board of directors, including a new CEO, new chairman of the board, and two new board members. The president of Tessera Intellectual Property Corp., Rich Chernicoff, led the successful renewal of two key DRAM licenses in the fourth quarter. Under the guidance of Bob Roohparvar, the president of DigitalOptics Corporation, we have made great strides. Notably, our MEMS technology has met and exceeds the performance and reliability requirements based on test criteria from multiple Tier 1 mobile phone makers. The MEMS actuator is now on track for a crucial design win in the first half of 2012. We look forward to sharing our continued success with our investors in 2012.
Full Year Ended Dec. 31, 2011
Total revenues were $254.6 million.
Intellectual Property (formerly Micro-electronics) segment revenues were $213.4 million.
DigitalOptics (formerly Imaging & Optics) segment revenues were $41.2 million.
The Company had a GAAP net loss of $19.3 million, or ($0.38) per basic share for 2011, which included a third quarter goodwill impairment charge of $49.7 million, all of which related to the DigitalOptics segment. 2011 Non-GAAP net income was $60.7 million, or $1.15 per diluted share.
The following information was filed by Tessera Technologies Inc (TSRA) on Thursday, January 26, 2012 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.
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