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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, 212-481-2050
November 3, 2015
TESSERA TECHNOLOGIES ANNOUNCES THIRD QUARTER 2015 RESULTS
Total revenue of $67.4 million, above the Companys guidance range
Raises 2015 recurring revenue estimate to $240 million
Repurchased $40.0 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 third quarter of 2015. Total revenue was $67.4 million, above the Companys guidance range of $64 to $66 million. GAAP net income for the third quarter of 2015 was $32.5 million, or $0.62 per diluted share, and non-GAAP net income was $34.8 million, or $0.65 per diluted share.
Our third quarter financial results were above our expectations, reflecting execution on growth initiatives and the strength and stability of our business model, said Tom Lacey, CEO of Tessera Technologies, Inc. Our acquisition of Ziptronix in August enhances our extensive intellectual property portfolio in the 2.5D and 3D-IC markets, and Ziptronixs recently announced collaboration with Fraunhofer IZM-ASSID is an example of the range of new business opportunities we now address. FotoNation continues to build its roster of customers and development partners with the recent addition of leading phone and imaging companies QiKU, Huawei and Socionext. We are pleased to have delivered the seventh consecutive quarter of GAAP and non-GAAP profitability and we see strong momentum as we enter 2016.
The following information was filed by Tessera Technologies Inc (TSRA) on Tuesday, November 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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