Xperi Corporation (NASDAQ: XPER) reported Q4 EPS of $1.68, $0.16 worse than the analyst estimate of $1.84. Revenue for the quarter came in at $433.9 million versus the consensus estimate of $431.55 million.

Fourth Quarter 2020 Financial Highlights:

• Revenue of $433.9 million.
• Cash Flow from Operations of $298.2 million.
• Adjusted Free Cash Flow1 of $296.8 million.
• Paid down $163.1 million of corporate debt.
• Bought back $20 million of common stock at an average price of $19.82.

“Last year was transformative for Xperi. We closed our merger with TiVo, made significant progress on integration, and were able to achieve $45 million in run rate synergies by year end. Additionally, we closed one of the largest IP licensing deals in the history of both companies, took important steps to increase profitability on the product side of the business, and announced significant new product offerings,” said Jon Kirchner, chief executive officer of Xperi. “As we enter 2021, we continue to build our IP licensing business and product business, positioning them for improved long-term growth, stability, and profitability.”

GUIDANCE:

Xperi Corporation sees FY2021 revenue of $860-900 million, versus the consensus of $896.59 million.

For earnings history and earnings-related data on Xperi Corporation (XPER) click here.