The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Tessera Technologies beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share shrank to a loss.
Margins dropped across the board.
Tessera Technologies logged revenue of $53.2 million. The one analyst polled by S&P Capital IQ looked for sales of $51.5 million on the same basis. GAAP reported sales were 6.2% lower than the prior-year quarter's $56.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.38. The one earnings estimate compiled by S&P Capital IQ predicted -$0.43 per share. GAAP EPS were -$0.38 for Q4 against $0.05 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 77.0%, 1,060 basis points worse than the prior-year quarter. Operating margin was -19.2%, 3,530 basis points worse than the prior-year quarter. Net margin was -36.9%, 4,160 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $63.5 million. On the bottom line, the average EPS estimate is -$0.12.
Next year's average estimate for revenue is $374.9 million. The average EPS estimate is -$0.16.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 360 members out of 388 rating the stock outperform, and 28 members rating it underperform. Among 99 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 93 give Tessera Technologies a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Tessera Technologies is underperform, with an average price target of $13.25.
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