Tessera Technologies (Nasdaq: TSRA) reported earnings on July 31. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), Tessera Technologies beat slightly on revenues and exceeded expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped significantly. GAAP loss per share expanded.

Gross margins increased, operating margins dropped, net margins contracted.

Revenue details
 Tessera Technologies reported revenue of $46.6 million. The one analyst polled by S&P Capital IQ expected sales of $46.0 million on the same basis. GAAP reported sales were 24% lower than the prior-year quarter's $61.4 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
 EPS came in at -$0.30. The one earnings estimate compiled by S&P Capital IQ averaged -$0.43 per share. GAAP EPS were -$0.30 for Q2 compared to -$0.01 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Margin details
 For the quarter, gross margin was 97.8%, 690 basis points better than the prior-year quarter. Operating margin was 1.7%, 890 basis points worse than the prior-year quarter. Net margin was -33.9%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $36.5 million. On the bottom line, the average EPS estimate is -$0.24.

Next year's average estimate for revenue is $179.3 million. The average EPS estimate is -$0.73.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 355 members out of 383 rating the stock outperform, and 28 members rating it underperform. Among 91 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 86 give Tessera Technologies a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Tessera Technologies is buy, with an average price target of $23.00.

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