Tessera Results Surpass Estimates; Q3 Guidance Strong

(RTTNews) - Tessera Technologies Inc (TSRA) on Monday reported second-quarter net earnings of $26.1 million or $0.49 per share compared with $3.8 million or $0.07 per share last year.

Excluding items, adjusted earnings for the quarter were $0.58 per share compared with $0.19 per share a year ago.

Revenues for the quarter were $64.2 million compared with $37.2 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.48 per share on revenues of $62.9 million for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company expects adjusted earnings of $0.55 to $0.57 per share on revenues of $64 million to $66 million. Analysts expect earnings of $0.48 per share on revenues of $62.6 million.