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Tessera Technologies (TSRA) Tops Q2 EPS by 4c; Guides Q3 Below the Street

August 2, 2016 5:23 PM EDT

Tessera Technologies (NASDAQ: TSRA) reported Q2 EPS of $0.60, $0.04 better than the analyst estimate of $0.56. Revenue for the quarter came in at $67 million versus the consensus estimate of $65.17 million.

“Our strong second quarter results reflect the continued execution of our business objectives,” said Tom Lacey, Tessera’s 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.

GUIDANCE:

Tessera Technologies sees Q3 2016 EPS of $0.51-$0.53, versus the consensus of $0.64. Tessera Technologies sees Q3 2016 revenue of $61-63 million, versus the consensus of $68.8 million.

For earnings history and earnings-related data on Tessera Technologies (TSRA) click here.



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