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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
TESSERA TECHNOLOGIES ANNOUNCES SECOND QUARTER 2015 RESULTS
Recurring revenue increases 77% year-over-year to $63.2 million
Earnings per share of $0.49 significantly above guidance range of $0.37-$0.40
Company repurchased $25 million of common stock during the quarter
San Jose, Calif., (BUSINESS WIRE) - Tessera Technologies, Inc. (NASDAQ: TSRA) (the Company or we) today announced financial results for the second quarter of 2015. Total revenue was $64.2 million, just above the Companys guidance range of $62 to $64 million. Recurring revenue was $63.2 million, an increase of 77% compared with $35.8 million in the second quarter of 2014. GAAP net income for the second quarter of 2015 was $26.1 million, or $0.49 per diluted share, and non-GAAP net income was $31.5 million, or $0.58 per diluted share.
This quarter we again delivered terrific results in our core business, said Tom Lacey, CEO of Tessera Technologies, Inc. Our customer collaboration strategy continues to bear fruit, as the Invensas team is actively involved with leading manufacturers on xFD and BVA technology. FotoNation followed record first quarter revenue with a similar performance in the second quarter, while also developing new solutions for biometric authentication and the automotive market. I remain confident that the second half of this year will yield further success - particularly as we progress with the commercialization of our advanced packaging technologies and sign new customer agreements for our intellectual property and imaging solutions. This is an exciting time at Tessera.
The following information was filed by Tessera Technologies Inc (TSRA) on Monday, August 3, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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