Market Commentary and Intraday News
Tessera rises aftermarket on 3Q revenue outlook
279 days ago
(AP:SAN JOSE, Calif.) Tessera Technologies Inc., which licenses miniaturization technology for electronic devices, said Thursday it expects $66.5 million to $69 million in revenue in the third quarter.
The forecast suggests Tessera's revenue will grow 12 to 16 percent compared to the third quarter of 2011 and improve 8 to 12 percent sequentially. The company said it expects to report $53 million to $54 million from its intellectual property business, including a $20 million payment related to its dispute with Amkor Technology. Revenue for the digital optics business was forecast at $13.5 million to $15 million.
Tessera is scheduled to report its full quarterly results Nov. 1. The company reported $59.3 million in revenue in the year-ago quarter.
Shares of Tessera Technologies lost a penny to $14.90 Thursday during regular trading, then advanced 70 cents, or 4.7 percent, to $15.60 in after-hours trading.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.