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Jun 8th, 2012
 
Tessera Technologies provides financial guidance for second quarter of 2012
 
Tessera Technologies, Inc. TSRA -2.68% (the "Company") today announced financial guidance for the second quarter ending June 30, 2012.
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Second quarter 2012 total revenue is expected to range between $59.0 million and $60.0 million, an increase of approximately 26% to 29% from the prior quarter. Revenue from the Intellectual Property segment is expected to range between $50.5 million and $51.0 million, which includes one-time payments of approximately $8.0 million, lower reported unit volumes of certain DRAM licensees, and the transitional impact of a renewed contract with a major DRAM licensee. For the DigitalOptics segment, revenue is expected to be in the range of $8.5 million to $9.0 million, comprising royalties and license fees of approximately $5.0 million, as well as products and services revenues in the range of $3.5 million to $4.0 million.

Non-GAAP operating expenses for the second quarter 2012, excluding litigation expenses, are expected to range between $44.0 million and $45.0 million, which compares to $43.4 million in the prior quarter and includes expenses related to our continued investment in MEMS, lens, and camera module designs in our DigitalOptics segment.

GAAP operating expenses for the second quarter 2012, excluding litigation expense, are expected to range between $56.0 million and $57.0 million. Included in the GAAP operating expenses are stock-based compensation, which is expected to be approximately $5.7 million, and amortization, which is expected to be approximately $6.3 million.

The Intellectual Property segment's litigation expense in the second quarter of 2012 is expected to be significantly higher than the first quarter 2012 expense of $3.5 million, which was exceptionally low due to the timing of litigation events.

About Tessera Technologies, Inc.
Tessera Technologies, Inc. is a holding company with operating subsidiaries in two segments: Intellectual Property and DigitalOptics. Our Intellectual Property business generates revenue from patented innovations through license agreements with semiconductor companies and outsourced semiconductor assembly and test companies. Tessera, Inc. pioneered chip-scale packaging solutions for the semiconductor industry. Our DigitalOptics business delivers innovation in imaging and optics with products and capabilities that enable expanded functionality in increasingly smaller devices. Our miniaturized camera module solutions provide cost-effective, high-quality camera features, including Micro Electro Mechanical Systems ("MEMS")-based autofocus, extended depth of field ("EDoF"), zoom, image enhancement and optical image stabilization. We also offer customized micro-optic lenses from diffractive and refractive optical elements to integrated micro-optical subassemblies. For information call 1.408.321.6000 or go to www.tessera.com.

Tessera, Tessera, Inc., the Tessera logo, DigitalOptics Corporation, and Invensas Corporation are trademarks or registered trademarks of affiliated companies of Tessera Technologies, Inc. in the United States and other countries. All other company, brand and product names may be trademarks or registered trademarks of their respective companies.

 

 
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