Tessera Technologies (TSRA) Tops Q3 EPS by 6c
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Tessera Technologies (NASDAQ: TSRA) reported Q3 EPS of $0.57, $0.06 better than the analyst estimate of $0.51. Revenue for the quarter came in at $62.4 million versus the consensus estimate of $62.35 million.
Tessera Technologies sees Q4 2016 EPS of $0.60-$0.65, versus the consensus of $0.65. Tessera Technologies sees Q4 2016 revenue of $70-74 million, versus the consensus of $71.63 million.
“Our third quarter earnings exceeded our guidance range and reflects another strong quarter of financial performance. We continue to see positive momentum in all aspects of the business,” said Tom Lacey, Tessera's Chief Executive Officer. “FotoNation secured a design win with one of the world’s leading Asia-based SOC providers for our imaging processor unit, which is expected to be in silicon in the next few quarters. Additionally, we continued to introduce innovative products during the quarter and announced in August the new OnePlus 3 smartphone is shipping with FotoNation solutions.”
“On September 20th, we announced a transformational transaction with the execution of a mergeragreement with DTS, Inc. (“DTS”) for a total equity value of approximately $850 million,” added Lacey. “The combination with DTS offers many compelling strategic benefits, including accelerated growth from significant cross-selling opportunities and an expanded breadth of customers and growing markets. We are pleased with the progress to date on integration planning and continue to be impressed with the DTS team. We currently anticipate that the transaction will close in early December.”
For earnings history and earnings-related data on Tessera Technologies (TSRA) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sonoco (SON) Affirms FY16 Outlook; Guides FY17 EPS Below Views
- Boston Scientific (BSX) Accquires Certain Assets, 15% Equity Stake in of Neovasc (NVCN) for $75M
- Big Lots (BIG) Tops Q3 EPS by 5c; Boosts FY16 EPS Outlook
Create E-mail Alert Related CategoriesEarnings, Guidance, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!