Tessera Technologies (TSRA) Reports Q1 Earnings, Guides In-line for Q2 Revs
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Tessera Technologies Inc (Nasdaq: TSRA) reports Q1 non-GAAP EPS of $0.33 (GAAP EPS of $0.05) versus the analyst estimate of $0.13. Revenues for the quarter were $59.4 million, versus the consensus of $56.12 million.
CFO for Tessera says, “We expect second quarter total revenue to be within the range of $54 million to $56 million, which includes projected royalty and license fees of between $47 million and $49 million. These ranges are one million dollars above our previous guidance originally given on January 31, 2008, as we anticipate strong performance in our core business.” (Q2 revenue consensus is $54.37 million)
Non-GAAP operating expenses for the second quarter of 2008 are projected to be approximately $27.5 million to $28.5 million, excluding litigation expenses. Starting with the second quarter of 2008, Tessera will not provide guidance on litigation expense as it is highly variable and difficult to predict. The company will, however, continue to provide actual litigation spending.
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