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Tessera Technologies, Inc.
Robert Andersen, 408-321-6779
Executive Vice President and Chief Financial Officer
- or -
The Piacente Group | Investor Relations
Don Markley or Glenn Garmont, 212-481-2050
February 10, 2015
Tessera Technologies Announces Fourth Quarter and Full Year 2014 Results
Full Year Revenue of $279 million, up 65%
2014 Recurring Revenue reaches $150 million, up 45%
Reiterates 2015 Baseline Recurring Revenue Guidance of $235 million, up 57% over 2014
Board approves 100% increase in quarterly dividend to $0.20 per share
SAN JOSE, Calif.(BUSINESS WIRE)Tessera Technologies, Inc. (NASDAQ: TSRA) (the Company or we) today announced financial results for the fourth quarter and full year ending Dec. 31, 2014. Total revenue from continuing operations for the fourth quarter of 2014 was $59.9 million, at the high end of the Companys guidance range of $58.0 to $60.0 million. GAAP net income for the fourth quarter of 2014 was $37.1 million, or $0.69 per diluted share. Non-GAAP net income for the fourth quarter of 2014 was $33.7 million, or $0.62 per diluted share.
Fourth quarter results represent a strong finish to a great year, said Tom Lacey, CEO of Tessera Technologies, Inc. Our approach to focusing the business on its strengths in technology development and imaging, partnering with customers, and closely managing expenses has yielded a remarkable year for the Company. Most importantly, we are well-positioned to provide innovative solutions to new and existing customers as we grow our recurring revenue base in 2015.
The following information was filed by Tessera Technologies Inc (TSRA) on Tuesday, February 10, 2015 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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