Tessera Technologies Inc (TSRA) SEC Filing 10-Q Quarterly report for the period ending Thursday, March 31, 2016

Earnings Press Release
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Tessera Technologies Inc
Ticker: TSRA CIK: 1261694

Exhibit 99.1

LOGO

Company Contact:

The Piacente Group | Investor Relations

Don Markley, 212-481-2050

tessera@tpg-ir.com

February 2, 2016

TESSERA TECHNOLOGIES ANNOUNCES FOURTH QUARTER AND FULL YEAR 2015 RESULTS

Full year recurring revenue of $242.3 million, up 62% from prior year

Second consecutive year with 59% GAAP operating margin

Share buyback authorization increased by $200 million

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 December 31, 2015. Total revenue for the fourth quarter of 2015 was $61.8 million, at the high end of the Company’s guidance range of $60 to $62 million. GAAP net income for the fourth quarter of 2015 was $22.8 million, or $0.44 per diluted share, and non-GAAP net income was $29.7 million, or $0.57 per diluted share.

“Our excellent fourth quarter results reflect the strength and stability of our intellectual property and technology licensing model, the market’s ongoing adoption of FotoNation imaging technologies, and our continued financial discipline,” said Tom Lacey, Tessera’s Chief Executive Officer. “I’m excited about the array of growth opportunities across all areas of our business, and we expect to maintain momentum throughout 2016. Our focus on delivering value extends from our collaborative business strategy to our capital allocation policy. In 2015 we returned more than $160 million to shareholders through dividends and share repurchases, and our Board of Directors has approved an additional $200 million for our share repurchase program.”

Fourth Quarter 2015 Results

Total revenue was $61.8 million in the fourth quarter of 2015, compared with revenue of $59.9 million in the fourth quarter of 2014. Recurring revenue was $60.8 million in the fourth quarter of 2015, compared with recurring revenue of $43.3 million in the fourth quarter of 2014. Fourth quarter 2015 revenue included $1.0 million of episodic revenue, compared with episodic revenue of $16.6 million in the fourth quarter of 2014.

The following information was filed by Tessera Technologies Inc (TSRA) on Tuesday, February 2, 2016 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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