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The Piacente Group | Investor Relations
Don Markley, 212-481-2050
August 2, 2016
TESSERA TECHNOLOGIES ANNOUNCES SECOND QUARTER 2016 RESULTS
Revenue of $67 million exceeds guidance range
Reiterates full-year 2016 revenue guidance of $255 million to $270 million
San Jose, Calif., (BUSINESS WIRE) Tessera Technologies, Inc. (NASDAQ: TSRA) (the Company or we) today announced financial results for the second quarter ending June 30, 2016. Total revenue for the second quarter of 2016 was $67.0 million, above the Companys guidance range of $64 million to $66 million. GAAP net income for the second quarter of 2016 was $23.5 million, or $0.48 per diluted share, and non-GAAP net income was $30.2 million, or $0.60 per diluted share.
Our strong second quarter results reflect the continued execution of our business objectives, said Tom Lacey, Tesseras Chief Executive Officer. During the quarter, we continued to see strong interest in our ZiBond® and DBI® technologies across multiple applications, and FotoNation had another excellent quarter with particular success in the Chinese market. In addition, we continued to optimize shareholder value by returning approximately $35.0 million in capital through our quarterly dividend and share repurchase program.
In May, we announced that we had initiated legal actions against Broadcom. While the actions we took were not our preferred approach, we believe the actions were necessary, after years of effort to reach a fair and equitable resolution without litigation, to defend our intellectual property rights, added Lacey.
The following information was filed by Tessera Technologies Inc (TSRA) on Tuesday, August 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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