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In the last month we have seen the sudden departure of the CFO and the sudden departure of the President of the Digital Optics division. One has to start wondering...what is reason for these departures?
The fact that Tessera has publicly announced they are no longer going to provide revenue guidance next year makes one wonder how Wall St. analysts are even going to value the company stock.
NJ
I would not be surprised to see Barney move on as well....but I don't think he has done a terrible job.
Tessera got screwed when the CAFC changed the game rules in the middle of the game in the Kyocera case at the ITC. The CAFC determined in Kyocera v. ITC that the U.S. International Trade Commission did not have statutory authority to issue a limited exclusion order covering downstream products (i.e., products that incorporate infringing components like Tessera's chip scale packaging technology) of third parties not named as respondents in ITC investigations. The CAFC held that in order to obtain relief against downstream products, the complainant ITC cases must name the downstream producer or distributor when seeking a limited exclusion order. If they don't do that, they must satisfy a much higher threshold for obtaining a general exclusion order. Tessera's case was filed before this ruling came out, and they did not name the downstream parties. This was completely unfair IMO.
It remains to be seen how successful Tessera will be in the Amkor situation...but one thing is for sure, the International Chamber of Commerce tribunal agreed with Tessera's cancellation of Amkor's license. Amkor can no longer "launder" Tessera's IP. This should eventually bring some of the parties hiding behind the Amkor license to the table (Qualcomm, Freescale, etc.).
JMHO,
NJ
What's going on is that Bob Young has been put in place by his buddies (the Board) and he's running the company in to the ground. It is expected to have high turn over when a new CEO takes over, but Mike Anthofer's departure marks the second to last original C-level at Tessera. Who is left? Barney Cassidy. I'm sure it won't be long before Barney "pursues other opportunities" as well. Shortly after Bob stepped in as CEO (rumors swirling the hallways within the company were that previous CEO Hank Nothhaft was quietly pushed out by the Board) he fired most everyone at the C-level and brought in his buddies -- none of whom were interviewed or vetted and are now ruining the company. Has it been a blood bath? Not by any means. However, companies always sugar coat someone leaving who was outright fired by saying they decided to pursue other opportunities. Under the leadership of Bob Young and this Board, Tessera is headed for the gutter and fast -- just look at the stock price. The darling of the company, DigitalOptics Corporation, is what there is to look out for and under the leadership of Bob Roohparvar there is a lot to look forward to. You didn't hear anything about the design wins -- and as a former employee who worked there WHILE those design wins were secured I didn't either -- because Bob Young fired the entire corporate communications and marketing teams. Communication is abhorrently poor inside the company, so just imagine why you're not getting any information as a stock holder. Morale is low. Employees are scared -- and rightly so when employees are fired for not covering up illegal activities conducted by the CEO and leadership of the company. It's a real doozy over at Tessera Technologies, Inc. and it's lead by one doozy of a man looking out for his own best interests, not yours as a stock holder.
It always bothers me a bit when....
A CFO departs suddenly and the standard comment "to pursue other opportunities" is the stated reason.
http://ih.advfn.com/p.php?pid=nmona&article=53839331
Tessera has stopped telling analysts just about everything that is needed to evaluate the company and it's prospects. At the end of this year, they have stated they won't even be giving guidance any longer.
They never did announce their much anticipated camera module design win which they told us in 2011 was coming in the first half of 2012. IMHO, if there was any question about whether or not it could be announced....why not keep it completely on the QT until it could be announced.
The management of Tessera has recently become very unfriendly to investors and analysts alike. It makes you wonder....what is really going on?
Maybe we'll get some clarity by early 2013.
JMHO,
NJ
Bank of America/Merrill Lynch Downgrades TSRA
courtesy of RMBSrider....
--------------------------------------------------------------------------------
Downgrading to Underperform from Neutral
Tessera has two business segments: (1) IP (Intellectual Property) generates revenues from royalties in semiconductor packaging technology, and (2) the DigitalOptics (DOC) unit is in the process of transitioning into a vertically integrated camera module manufacturer. We downgrade Tessera from Neutral to Underperform for the following reasons:
- We believe that the IP segment will continue to underperform the semi industry's unit growth (IP revenue was -14% Y/Y in 2011 vs. total IC and DRAM units, the major contributor to IP segment revenues, +4% over the same period). Aside from slower DRAM growth and ongoing issues with customers who are not paying or have not renewed contracts, we expect some licensees could be renewing at lower rates, leading to slower growth down the road.
- Transition to a high-volume product manufacturing business in the DigitalOptics unit has execution risks that in our view could leave the cost structure inflated in the intermediate-term (in spite of the longer term revenue opportunity). Based on our analysis, this segment will account for 53% of the company's overall expenses in 2012, while generating only 17% of the year's total revenue.
- Lack of guidance (from FY13) due to the addition of camera module product sales could make it even more difficult to forecast the revenue and earnings potential, making them vulnerable to further estimate cuts, in our view.
Lowering estimates and PO to $13.50 (from $14.50)
We adjust our model to account for camera module revenues in DigitalOptics for CY12/13. Our new CY12/13 rev/pf EPS estimates are $227M/$0.03 (from $229M/$0.01) and $393/$0.15 (from $259M/$0.46). While peers are trading at 11-14x CY13E EPS, we apply a discount due to the litigation risks and execution challenges. Our new PO of $13.50 is based on 10x our CY13E EPS plus excess cash (~$12/share). We assume ~$150M from Amkor in our cash calculation. Our PO is ~2x CY13 sales, which is in-line with IP and DOC comparable averages.
Tessera wins Arbitration ruling at International Chamber of Commerce
http://www.tessera.com/abouttessera/pressroom/Pages/newsreleases.aspx?releaseId=689921
The details of this haven't been released yet, but what is happening in this situation is that over 2 years ago, Tessera cancelled Amkor's license, because there was a dispute in the payments (Amkor was just paying a pittance compared to what TSRA thought they should be paying). Other companies, such as QCOM, were using the patent exhaustion ruling (in LG v Quanta at the Supreme Court), to hide behind the Amkor license and not pay Tessera. So, Tessera decided to cancel the Amkor license altogether. There was an arbitration clause in the contract and the arbiter was the ICC....so this case went to the International Chamber of Commerce for arbitration.
The ruling Tessera just won apparently is just that they did legally cancel the Amkor license....so for the past 2+ years, Amkor did not have a legitimate license and anyone who was using them as a manufacturere was trying to use the patent exhaustion issue to hide being the Amkor Tessera licnse and avoid paying royalties to Tessera. Those companies will now be subject to paying full restitutiuon for that time period.
I'll have to listen to the CC and review the presentation later to give you further thoughts on what has transpired.
JMHO,
NJ
Tessera Just Lost about 25% of their revenue when Powertech cancelled their license.
http://www.tessera.com/abouttessera/pressroom/Pages/pressroom.aspx?releaseId=688278
We have still not heard anything on the Amkor arbitration, so, I suspect that has not gone well.
Let's hope Tessera can get their new technologies to market before the bottom falls out of revenues, otherwise I think the stock price could revisit the low of Oct 2011 which was around $11. After their split decision at the ITC (where the some of their patents were ruled not infringed by the DRAM manufacturers)...we are starting to see existing customers reneg on paying signed contracts.
One more thing, they promised to announce a camera module design win in the first half of 2012....well, guess what? The first half of 2012 is over and we haven't heard anything about a new tier 1 design win.
From looking at their chart, I think the stock will now have to retest the $13 mark (see line below). If it drops below $13, then I think the $12 becomes support (see other line below).
On top of all this, Tessera has decided not to share any information on their on-going litigation with shareholders. That's hard to comprehend for a company whose lifeblood is royalties, and royalties are closely tied with their on-going litigations.
I'm optimistic about the long term future, but I think things are going to get a lot worse before they get better.
JMHO,
NJ
Tessera has quietly risen from a close 12.77 on June 1st, to a close of 15.37 on June 29th. While I think the stock has a lot more upside, I wouldn't be surprised to see it take a breather before it makes another run on $20.
One negative is that they said late last year and earlier this year that they would announce a Tier 1 design win for their new mobile phone camera module (with MEMS technology) in the second quarter. Unless they do that over this weekend, it doesn't appear that they will meet this promise to investors.
JMHO,
NJ
Broke the Downtrend Line Today
http://stockcharts.com/h-sc/ui?s=tsra
NJ
This recent Seeking Alpha article on TSRA..
suggested shorting TSRA at $15.53. Thus far, this author looks prophetic.
http://seekingalpha.com/article/580951-cisco-s-troubled-outlook-points-doubly-to-trouble-at-tessera-technologies
but, if you are interested in a long term play, I still believe TSRA is a great buy at prices in the 12's.
JMHO,
NJ
Tessera has gone Silent...
on their Silent Air Cooling technology. FWIW, I still believe Apple has an interest in that technology.
JMHO,
NJ
Tessera has stated several times....
That they would announce a major tier I camera design win in the first half of the year. Now they have less than a month to make that announcment.
NJ
Looks like the Market is Punishing TSRA....
Because Micron and Powertech haven't renewed and Powertech is in litigation with them. It's hard to imagine that a company that signed a license won't renew...for if not they would have a hard time explaining in litigation why they signed a license to begin with. I think this downdraft may be a little severe, especially considering the upside of MEMS, xFD, and Silent Air Cooling and the fact that they have almost $11 cash in the bank.
JMHO,
NJ
Stock TA is Very Bullish in the Intermediate and Long Term
http://www.stockta.com/cgi-bin/analysis.pl?symb=TSRA&cobrand=&mode=stock
Battling through that $20 Resistance
Looks like Tessera is trying to break through that $20 barrier today.
The technicals still look good and if it closes above $20...it should be free from the resistance.
FWIW, with ~$10.50/share in the bank and non-GAAP net income from last year at $1.15/share.....$20 per share looks pretty cheap right now, especially with the MEMS opportunity and the xFD patents (and Silent Air Cooling?). They appear to have the upper hand in all their current litigation...which should lead to some significant settlements this year. Once Tessera clears the $20 hurdle, they should run a few dollars into the mid 20's.
Many people look at Tessera and think they lost $$ last year. In reality, Tessera was forced to take a ~$50 Million charge for Goodwill impairment when their stock dropped last August. That makes them appear as if they were unprofitable last year...but they just kept innovating and socking money in the bank.
Here are a few links woth reviewing....
http://www.stockta.com/cgi-bin/analysis.pl?symb=TSRA&cobrand=&mode=stock
http://www.barchart.com/opinions/stocks/TSRA
here's the P&F Chart (double top breakout Jan 18th with a bullish Price objective of $31.5)
http://stockcharts.com/def/servlet/SC.pnf?c=TSRA,P&listNum=
JMHO,
NJ
Tessera's Prepared Remarks from the last CC
You might note the company has almost $11/share in cash and the only reasons they had a loss last year was because of a goodwill impairment charge of about $50 Million associated with their stock price temporarily dropping below book value
http://files.shareholder.com/downloads/TSRA/1652186430x0x537029/A7407A21-7850-4659-9B59-7B70AD301699/Q4_2011_Prepared_Remarks_Final.pdf
some key excerpts from their last CC prepared statement....
The Company had a GAAP net loss of $19.3 million, or ($0.38) per basic share for 2011, which included a third quarter goodwill impairment charge of $49.7 million, all of which related to the DigitalOptics segment. Non-GAAP net income was $60.7 million, or $1.15 per diluted share.
In 2011, Invensas launched xFD. xFD is a patented semiconductor packaging technology that reduces packaging costs, improves the performance of memory packages containing multiple face down die, and provides system manufacturers the opportunity to use less costly printed circuit board technologies. xFD is an example of a technology that may be adopted in the near term for use in the DRAM memory stacking space. In October 2011, Invensas announced NANIUM S.A. was the first company offering an implementation of Invensas’s xFD packaging technology in volume. Invensas is working with system manufacturers, memory chip manufacturers and assembly and test companies to speed adoption of xFD technology.
The DigitalOptics segment offers products that include licensable image processing technologies such as auto-focus, zoom, red-eye correction, face tracking, smile and blink detection, which are in nearly 90% of all digital still cameras in the market today and are embedded in mobile phones from six of the top ten OEMs. DOC is taking this proven technology and transitioning these components into the mobile imaging market. It is also on track in 2012 to deliver its latest component, a Micro Electro Mechanical Systems (MEMS) auto-focus actuator.
DigitalOptics MEMS technology has met and exceeds the performance and reliability requirements based on test criteria from multiple Tier 1 mobile phone makers and DOC is working on the supply chain to support the anticipated high volume production. DOC expects a design win for its MEMS Auto-Focus in the first half of 2012, with revenue starting in the fourth quarter of 2012. This is a $1 billion market opportunity, with a current incumbent technology called Voice Coil Motor (VCM) that we believe MEMS will replace because of its multi-faceted technical superiority to VCM. MEMS has a smaller footprint and is thinner than VCM; has 7x faster auto-focus time; consumes 1/300th of the power; and has significantly more precise and continuous auto-focus, required for optimal video on mobile phones.
The MEMS auto-focus actuator is just one component of the larger camera module, however. The camera module’s primary components are image sensor, lens, lens barrel, algorithms, etc. DOC has many of these components, protected by high value IP and differentiated by multiple breakthrough technological features. The next step in DOC’s vision of bringing the DOC ‘standard’ to the mobile imaging market is to become a vertically integrated camera module supplier, either through partnerships, contract manufacturing, or becoming a manufacturer itself. As a vertically integrated provider, DOC will be able to effectively compete in the camera module business, which today is a highly fragmented commodity market worth $9 billion. DOC anticipates being able to provide integrated camera modules starting in 2013.
Golden Cross in Early January
TSRA had a Golden Cross on January 6th (50 dMA crossed above 200 dMA). All other technical indicators look really good.
http://finance.yahoo.com/echarts?s=TSRA+Interactive#chart6:symbol=tsra;range=3m;indicator=sma(50,200)+volume+mfi+rsi;charttype=candlestick;crosshair=on;ohlcvalues=1;logscale=on;source=undefined
Tessera's Wireless Cases are back on track
Now that the Supreme Court has denied the appeal of Qualcomm, Freescale, Spansion, ST Micro and AMD/ATI, the ITC ruling of infringement that was upheld by the CAFC is now final. These companies all owe Tessera a huge amount in past damages. The District Court Cases have now all been consolidated under Judge Claudia Wilkens in the Northern District of CA and she has started them back up. In this specific case, the two key patents recently expired, so all is at stake in the federal district court cases are related to past damages.
Tessera may move for summary judgement of both validity and infringement on the patents, which will likely be granted by the court since this has already been determined by the CAFC and the appeal was denied at the Supreme Court. The only thing left after the court grants the summary judgement motions would be for a jury to be selected and determine amount of damages (of course discovery on damages and the whole jury trial takes a lot of time). But, I doubt most of these defendants will let it go that far...so there should be some new licensing deals on the horizon for Tessera with these five major wireless chip providers.
If I were Qualcomm, Spansion, ST Micro, Freescale or AMD/ATI (the defendants against TSRA), I wouldn't feel real good about this situation, especially considering that the ITC set the 60 day Presidential Appeal Bond at 3.5% (saying this was typical in the electronics industry). One should note that TSRA does have tons of other patents that have not expired (including the xFD patents needed for wireless chips), so they may use the threat of huge past damages to work out a deal for future licensing. Past damages really don't get a multiple from the market, but future revenue streams should have a multiple similar to the PE multiple.
Tessera currently has about $11/share in cash with no debt and they just renewed their licenses with Samsung and Hynix (Micron is still pending). At a stock price of $19/share...with a great positive cash flow and a $9 Billion dollar camera phone market sitting out there as a cherry for them to pick with their MEMS patents....this stock is grossly undervalued. For example, someone like QCOM could buy them, sell off their Imaging and Optics Division (or simply close it and just sell off the patents), and make a fortune. But I'm sure Tessera is looking to monetize the MEMS patents, and would prefer not to sell. Here's Tessera's latest corporate presentation. Pay close attention to slide 9 and 18-24.
http://www.tessera.com/Documents/TSRA%20January%202012%20PPT.pdf
If TSRA is forced to go through with the patent damages case (QCOM et. al. refuse to settle), then I think TSRA would recover a huge amount from these defendants in past damages. Tessera has newer patents that these guys need (like the xFD patents), so I think something will be worked out ...one way or another.
In any event, TSRA is grossly undervalued at current levels. I would think a conservative year end price target should be $35 - 40 and they should move on up into the low to mid twenties over the next couple of months as they announce design wins on the MEMS patents for cell phone cameras. The MEMS patents are a disruptive technology that will start generating revenue in the second half of the year. Tessera's Silent Air Cooling technology should be showing up soon in real products (nobody knows who yet, but my guess is Apple).
All in all, this company bears watching as it appears they have finally caught a tailwind.
JMHO,
NJ
Tessera TA P&F Chart Breakout
http://stockcharts.com/def/servlet/SC.pnf?c=TSRA,P&listNum=
Double Top Breakout on 1/18/2012 with a preliminary price objective of $31.5
CORRECTING and REPLACING Supreme Court Rejects Petition for Certiorari, Affirming Tessera Win
Date : 11/29/2011 @ 4:13PM
Source : Business Wire
Stock : Tessera Technologies, Inc. (TSRA)
Quote : 16.91 -0.15 (-0.88%) @ 6:01PM
CORRECTING and REPLACING Supreme Court Rejects Petition for Certiorari, Affirming Tessera Win
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In second paragraph of release, Robert A. Young's title should read: chief executive officer and president (sted chairman and chief executive officer).
The corrected release reads:
SUPREME COURT REJECTS PETITION FOR CERTIORARI, AFFIRMING TESSERA WIN
Tessera Technologies, Inc. (NASDAQ: TSRA) (the “Company”) today announced that on Nov. 28, 2011, the United States Supreme Court rejected petitions for certiorari seeking review of the judgment of the U.S. International Trade Commission (ITC) in Investigation No. 337-TA-605 (Wireless ITC action) in favor of Tessera, Inc., leaving intact a finding that the patents asserted by Tessera, Inc. were valid and infringed by certain wireless semiconductor manufacturers.
“We are heartened to see that despite Respondents’ efforts to delay, the highest court in the United States has now upheld our patent rights,” said Robert A. Young, chief executive officer and president, Tessera Technologies, Inc. “The Supreme Court's ruling removes the last procedural hurdle to getting the stayed cases in the federal district courts moving forward. Tessera, Inc. prefers to settle disputes like these through broad portfolio license agreements that reflect the value of its patents, but intends, in the absence of a licensing agreement, to pursue damages for each Respondent's infringements in these district court cases.”
The Wireless ITC action was brought against Respondents Qualcomm, Freescale, ST Microelectronics, ATI, Spansion and Motorola. Tessera, Inc. asserted infringement of two patents, U.S. Patent Nos. 6,433,419 and 5,852,326. Motorola settled with Tessera, Inc. before the decision of the ITC became final. The ITC found the Tessera, Inc. patents valid and infringed, and issued a Limited Exclusion Order and Cease and Desist Orders against the remaining Respondents. On Sept. 24, 2010, the patents at issue in the case expired. On Dec. 21, 2010, the U.S. Court of Appeals for the Federal Circuit affirmed the rulings of the ITC.
Related district court actions against the Respondents are pending but currently stayed in the Eastern District of Texas and the Northern District of California. A Case Management Conference is scheduled for Jan. 4, 2012 in the Northern District of California regarding certain of these stayed cases.
Tessera Technologies, Inc. also announced today an update to its disclosure practices. In addition to complying with SEC and NASDAQ mandated requirements, the Company has historically issued press releases similar to this release with respect to litigation matters as a matter of course. The Company is changing this practice and, in addition to all required disclosure, intends to comment publicly on litigation matters on a more selective basis, taking into account the adequacy of SEC and NASDAQ disclosure requirements to serve the needs of its stockholders. As always, the Company assumes no obligation to update the information it publicly provides.
Safe Harbor Statement
This document contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ significantly from those projected, particularly with respect to the beliefs of the Company and its subsidiaries regarding civil litigation procedures, the pursuit of damages for Respondents’ infringements, and the Company’s future disclosure practices. Material factors that may cause results to differ from the statements made include changes to the plans or operations relating to the Company’s businesses and groups, market or industry conditions; the future expiration of license agreements and the cessation of related royalty income; the failure or refusal of licensees to pay royalties; delays, setbacks or losses relating to the Company’s intellectual property or intellectual property litigation, or any invalidation or limitation of key patents; fluctuations in operating results due to the timing of new license agreements and royalties, or due to legal costs; changes in patent laws, regulation or enforcement, or other factors that might affect the Company’s ability to protect our intellectual property; the risk of a decline in demand for semiconductor products; failure by the industry to adopt technologies covered by the Company’s patents; and the future expiration of the Company’s patents. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. The Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended Dec. 31, 2010, and its Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2011, includes more information about factors that could affect the Company's financial results. The Company assumes no obligation to update information contained in this press release. Although this release may remain available on the Company's website or elsewhere, its continued availability does not indicate that the Company is reaffirming or confirming any of the information contained herein.
About Tessera
Tessera Technologies, Inc, through its subsidiaries, develops, invests in, licenses and delivers innovative miniaturization technologies and products for wireless and computing products. The Company is headquartered in San Jose, California. More than 65% of the Company's employees are dedicated technologists or inventors. The Company's micro-electronics solutions enable smaller, higher-functionality devices through chip-scale and wafer-level packaging, silicon-level interconnect and 3-D packaging, as well as silent air cooling technology. The Company's imaging and optics solutions provide cost-effective, high-quality camera functionality in consumer electronic products through technologies that include Extended Depth of Field (EDoF), zoom and MEMS-based auto-focus. The Company also offers custom micro-optics for semiconductor lithography, communications, medical, industrial and other applications. 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.
TSRA-L
Tessera Technologies to Present at the NASDAQ OMX Investor Program
Date : 11/29/2011 @ 4:05PM
Source : Business Wire
Stock : Tessera Technologies, Inc. (TSRA)
Quote : 16.91 -0.15 (-0.88%) @ 6:01PM
Tessera Technologies to Present at the NASDAQ OMX Investor Program
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Tessera Technologies, Inc. (Nasdaq:TSRA) will present at the NASDAQ OMX 27th Investor Program at the Chancery Court Hotel in London on Tuesday, Dec. 6, 2011 at 11:45 a.m. Greenwich Mean Time/6:45 a.m. Eastern Standard Time. Presenting from Tessera Technologies, Inc. will be Robert A. Young, chief executive officer and president.
The presentation will be webcast live and available by visiting the investor relations portion of the company's web site at www.tessera.com. In addition, a replay of management's presentation will be available at the company's web site for a period of 30 days.
Safe Harbor Statement
This document contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ significantly from those projected, particularly with respect to Tessera Technologies, Inc.'s (the “Company”) participation in the NASDAQ OMX 27th Investor Program, as well as the subject matter of the Company's presentations at the conference. Material factors that may cause results to differ from the statements made include changes to the plans or operations relating to the Company’s businesses and groups, market or industry conditions; the future expiration of license agreements and the cessation of related royalty income; the failure or refusal of licensees to pay royalties; delays, setbacks or losses relating to the Company’s intellectual property or intellectual property litigation, or any invalidation or limitation of key patents; fluctuations in operating results due to the timing of new license agreements and royalties, or due to legal costs; changes in patent laws, regulation or enforcement, or other factors that might affect the Company’s ability to protect our intellectual property; the risk of a decline in demand for semiconductor products; failure by the industry to adopt technologies covered by the Company’s patents; and the future expiration of the Company’s patents. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. The Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended Dec. 31, 2010, and its Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2011, includes more information about factors that could affect the Company's financial results. The Company assumes no obligation to update information contained in this press release. Although this release may remain available on the Company's website or elsewhere, its continued availability does not indicate that the Company is reaffirming or confirming any of the information contained herein.
About Tessera
Tessera Technologies, Inc, through its subsidiaries, develops, invests in, licenses and delivers innovative miniaturization technologies and products for wireless and computing products. The Company is headquartered in San Jose, California. More than 65% of the Company's employees are dedicated technologists or inventors. The Company's micro-electronics solutions enable smaller, higher-functionality devices through chip-scale and wafer-level packaging, silicon-level interconnect and 3-D packaging, as well as silent air cooling technology. The Company's imaging and optics solutions provide cost-effective, high-quality camera functionality in consumer electronic products through technologies that include Extended Depth of Field (EDoF), zoom and MEMS-based auto-focus. The Company also offers custom micro-optics for semiconductor lithography, communications, medical, industrial and other applications. 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.
TSRA-G
Supreme Court Rejects Petition for Certiorari, Affirming Tessera Win
Date : 11/29/2011 @ 7:00AM
Source : Business Wire
Stock : Tessera Technologies, Inc. (TSRA)
Quote : 16.91 -0.15 (-0.88%) @ 6:01PM
Supreme Court Rejects Petition for Certiorari, Affirming Tessera Win
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Tessera Technologies, Inc. (NASDAQ: TSRA) (the “Company”) today announced that on Nov. 28, 2011, the United States Supreme Court rejected petitions for certiorari seeking review of the judgment of the U.S. International Trade Commission (ITC) in Investigation No. 337-TA-605 (Wireless ITC action) in favor of Tessera, Inc., leaving intact a finding that the patents asserted by Tessera, Inc. were valid and infringed by certain wireless semiconductor manufacturers.
“We are heartened to see that despite Respondents’ efforts to delay, the highest court in the United States has now upheld our patent rights,” said Robert A. Young, chairman and chief executive officer, Tessera Technologies, Inc. “The Supreme Court's ruling removes the last procedural hurdle to getting the stayed cases in the federal district courts moving forward. Tessera, Inc. prefers to settle disputes like these through broad portfolio license agreements that reflect the value of its patents, but intends, in the absence of a licensing agreement, to pursue damages for each Respondent's infringements in these district court cases.”
The Wireless ITC action was brought against Respondents Qualcomm, Freescale, ST Microelectronics, ATI, Spansion and Motorola. Tessera, Inc. asserted infringement of two patents, U.S. Patent Nos. 6,433,419 and 5,852,326. Motorola settled with Tessera, Inc. before the decision of the ITC became final. The ITC found the Tessera, Inc. patents valid and infringed, and issued a Limited Exclusion Order and Cease and Desist Orders against the remaining Respondents. On Sept. 24, 2010, the patents at issue in the case expired. On Dec. 21, 2010, the U.S. Court of Appeals for the Federal Circuit affirmed the rulings of the ITC.
Related district court actions against the Respondents are pending but currently stayed in the Eastern District of Texas and the Northern District of California. A Case Management Conference is scheduled for Jan. 4, 2012 in the Northern District of California regarding certain of these stayed cases.
Tessera Technologies, Inc. also announced today an update to its disclosure practices. In addition to complying with SEC and NASDAQ mandated requirements, the Company has historically issued press releases similar to this release with respect to litigation matters as a matter of course. The Company is changing this practice and, in addition to all required disclosure, intends to comment publicly on litigation matters on a more selective basis, taking into account the adequacy of SEC and NASDAQ disclosure requirements to serve the needs of its stockholders. As always, the Company assumes no obligation to update the information it publicly provides.
Safe Harbor Statement
This document contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ significantly from those projected, particularly with respect to the beliefs of the Company and its subsidiaries regarding civil litigation procedures, the pursuit of damages for Respondents’ infringements, and the Company’s future disclosure practices. Material factors that may cause results to differ from the statements made include changes to the plans or operations relating to the Company’s businesses and groups, market or industry conditions; the future expiration of license agreements and the cessation of related royalty income; the failure or refusal of licensees to pay royalties; delays, setbacks or losses relating to the Company’s intellectual property or intellectual property litigation, or any invalidation or limitation of key patents; fluctuations in operating results due to the timing of new license agreements and royalties, or due to legal costs; changes in patent laws, regulation or enforcement, or other factors that might affect the Company’s ability to protect our intellectual property; the risk of a decline in demand for semiconductor products; failure by the industry to adopt technologies covered by the Company’s patents; and the future expiration of the Company’s patents. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. The Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended Dec. 31, 2010, and its Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2011, includes more information about factors that could affect the Company's financial results. The Company assumes no obligation to update information contained in this press release. Although this release may remain available on the Company's website or elsewhere, its continued availability does not indicate that the Company is reaffirming or confirming any of the information contained herein.
About Tessera
Tessera Technologies, Inc, through its subsidiaries, develops, invests in, licenses and delivers innovative miniaturization technologies and products for wireless and computing products. The Company is headquartered in San Jose, California. More than 65% of the Company's employees are dedicated technologists or inventors. The Company's micro-electronics solutions enable smaller, higher-functionality devices through chip-scale and wafer-level packaging, silicon-level interconnect and 3-D packaging, as well as silent air cooling technology. The Company's imaging and optics solutions provide cost-effective, high-quality camera functionality in consumer electronic products through technologies that include Extended Depth of Field (EDoF), zoom and MEMS-based auto-focus. The Company also offers custom micro-optics for semiconductor lithography, communications, medical, industrial and other applications. 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.
TSRA-L
Supreme Court Rejects Challenge To Tessera Win In ITC Case
Date : 11/28/2011 @ 10:38AM
Source : Dow Jones News
Stock : Tessera Technologies Inc. (TSRA)
Quote : 16.91 -0.15 (-0.88%) @ 6:01PM
Supreme Court Rejects Challenge To Tessera Win In ITC Case
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The U.S. Supreme Court on Monday refused to disturb a patent-infringement victory for Tessera Technologies Inc. (TSRA), which had sued several tech companies at the U.S. International Trade Commission.
The closely watched case centered on two Tessera patents associated with packaging computer chips.
The ITC held in 2009 that the Tessera patents were valid, and it ruled that Qualcomm Inc. (QCOM), Spansion Inc. (CODE), STMicroelectronics NV (STM, STM.MI), Freescale Semiconductor Inc. and ATI Technologies, now owned by Advanced Micro Devices Inc. (AMD), infringed them. The ITC decision excluded infringing products from being imported into the U.S.
The U.S. Court of Appeals for the Federal Circuit affirmed the ITC decision last December. The defendant companies asked the Supreme Court to review the case but the court on Monday rejected their appeals without comment.
The two patents at issue in the case have since expired. Related proceedings in the federal courts, where Tessera is seeking financial damages, had been postponed while the ITC case proceeded.
Tessera originally filed the complaint in April 2007. Motorola Inc. also was included in the original suit, but the handset maker signed a licensing agreement in 2009 to settle the litigation.
-By Brent Kendall, Dow Jones Newswires; 202-862-9222; brent.kendall@dowjones.com
Hynix Renews Tessera License
Date : 11/23/2011 @ 6:30AM
Source : Business Wire
Stock : Tessera Technologies, Inc. (TSRA)
Quote : 16.91 -0.15 (-0.88%) @ 6:01PM
Hynix Renews Tessera License
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Tessera Technologies, Inc. (NASDAQ: TSRA) (the “Company”) announced today that Hynix Semiconductor Inc. exercised the renewal option in its March 31, 2005 license agreement with Tessera, Inc. to extend the term of that license to May 22, 2017.
“We are pleased to have Hynix, a leading provider of memory solutions, elect to renew its license agreement with Tessera, Inc.,” stated Richard Chernicoff, president of the Intellectual Property and Micro-electronics Division of Tessera, Inc. “With this renewal, Tessera, Inc. has secured 5-year license agreements with two of the top memory manufacturers in the world, further validating the value of its portfolio of semiconductor packaging related intellectual property (IP).”
“The Hynix renewal further secures our future IP & Micro-electronics business,” said Robert A. Young, chief executive officer of Tessera Technologies, Inc. “We greatly value our relationship with Hynix and look forward to continuing it.”
Safe Harbor Statement
This document contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ significantly from those projected, particularly with regard to the value of Tessera, Inc. intellectual property, the Company’s IP and Microelectronics business, and the continuing relationship between Hynix and Tessera Technologies, Inc. together with its operating subsidiaries, including any future revenue from Hynix. Material factors that may cause results to differ from the statements made include changes to the plans or operations relating to its businesses and groups, market or industry conditions; the future expiration of license agreements and the cessation of related royalty income; the failure or refusal of licensees to pay royalties; delays, setbacks or losses relating to our intellectual property or intellectual property litigation, or any invalidation or limitation of key patents; fluctuations in operating results due to the timing of new license agreements and royalties, or due to legal costs; changes in patent laws, regulation or enforcement, or other factors that might affect our ability to protect our intellectual property; the risk of a decline in demand for semiconductor products; failure by the industry to adopt technologies covered by our patents; and the future expiration of our patents. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. The Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended Dec. 31, 2010 and Form 10-Q for the period ended September 30, 2011 include more information about factors that could affect our financial results. The Company assumes no obligation to update information contained in this press release. Although this release may remain available on the Company's website or elsewhere, its continued availability does not indicate that the Company is reaffirming or confirming any of the information contained herein.
About Tessera Technologies, Inc.
Tessera Technologies, Inc, through its subsidiaries, develops, invests in, licenses and delivers innovative miniaturization technologies and products for wireless and computing products. The Company is headquartered in San Jose, California. More than 65% of the Company’s employees are dedicated technologists or inventors. The Company’s micro-electronics solutions enable smaller, higher-functionality devices through chip-scale and wafer-level packaging, silicon-level interconnect and 3-D packaging, as well as silent air cooling technology. The Company’s imaging and optics solutions provide cost-effective, high-quality camera functionality in consumer electronic products through technologies that include Extended Depth of Field (EDoF), zoom and MEMS-based auto-focus. The Company also offers custom micro-optics for semiconductor lithography, communications, medical, industrial and other applications. 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.
TSRA-G
Change Ahead in Europe Forecasts - Report Highlights Tessera Technologies, Inc. and Quad/Graphics, Inc.
Date : 11/17/2011 @ 9:00AM
Source : MarketWire
Stock : Brighton Markets (TSRA)
Quote : 16.91 -0.15 (-0.88%) @ 6:01PM
Change Ahead in Europe Forecasts - Report Highlights Tessera Technologies, Inc. and Quad/Graphics, Inc.
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Today, www.BrightonMarkets.com announced new reports highlighting Tessera Technologies, Inc. (NASDAQ: TSRA) and Quad/Graphics, Inc. (NYSE: QUAD). Gain market insight with full analysis and research downloads available at www.BrightonMarkets.com/index.php?coa=TSRA&cob=QUAD.
With the European Financial Stability Facility set to increase to $1.4 trillion, it marks a significant move forward to strengthen the safety net in place for Europe's most troubled countries. Private bondholders of Greek debt are settling at a 50% cut as another $180 billion in fresh aid is set to arrive, enabling banks to recapitalize at a healthy 9% reserve. Overall, these measures will bring Greece's debt burden down to 120% of GDP by 2020. An important consideration is political commitment to this road map. Currently the global community appears to be on point with ECB's initiative, an outlook that should be sufficient to support markets around current levels.
Brighton Markets is releasing new coverage on Tessera Technologies, Inc. for its current position within the technology industry. Tessera Technologies, Inc. (Tessera) develops, invests in, licenses and delivers miniaturization technologies and products for next-generation electronic devices through semiconductor packaging technologies, such as chip-scale packaging, multi-chip packaging, and wafer-level packaging; silicon-level interconnect and three dimensional (3D) packaging, and silent air cooling technology. The full research report on Tessera Technologies, Inc. (NASDAQ: TSRA) is available here: www.BrightonMarkets.com/index.php?coa=TSRA.
Brighton Markets has released research on Quad/Graphics, Inc. for its changing role within the services industry. Quad/Graphics, Inc. (Quad/Graphics) is a printer of magazines, catalogs and other commercial products. The Company provides services ranging from front-end design and photography through digital imaging, printing, list management, finishing and dependable distribution. The Company's QuadData Solutions is an in-house data-solutions bureau. The full research report on Quad/Graphics, Inc. (NYSE: QUAD) is available here: www.BrightonMarkets.com/index.php?cob=QUAD.
About Brighton Markets
Brighton Markets was founded on the guiding principle of providing highly relevant, meaningful, and actionable information direct to investors. Across the investment spectrum, Brighton Markets shines light on today's events.
Contact:
Jean Barnes
Email: Email Contact
www.BrightonMarkets.com
Company News for November 17, 2011 - Corporate Summary
Date : 11/17/2011 @ 4:05AM
Source : Zacks
Stock : Tessera Technologies, Inc. (MM) (TSRA)
Quote : 16.91 -0.15 (-0.88%) @ 6:01PM
Company News for November 17, 2011 - Corporate Summary
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Alert
• Target (NYSE:TGT) posted Q3 EPS of $0.82, surpassing the Zacks Consensus Estimate of $0.74per share. Revenues for the quarter increased 5% to $16.1 billion
• NetApp (NASDAQ:NTAP) posted Q2 EPS of $0.63, beating the Zacks Consensus Estimate of $0.49 per share. Revenues for the quarter rose 20.5% to $1.51 billion
• Share prices of Rambus Inc. (NASDAQ:RMBS) plummeted 60.59% to close at $7.11 after the technology licensing company lost a long drawn legal anti-trust case against Hynix Semiconductor and Micron Technology (NYSE:MU)
• Office suppliers OfficeMax Inc (NYSE:OMX) has entered into an agreement with RadioShack (NYSE:RSH). The agreement will allow OfficeMax to pilot the RadioShack Mobile offering in San Francisco market
• Shares of Western Digital Corp (NYSE:WDC) gained 7.07% after the company said it has signed a business agreement with a subsidiary of TDK, SAE Magnetics
• PC maker Hewlett-Packard (NYSE:HPQ) unveiled its first business Ultrabook, which is thin as well as light, has strong security options and a responsive solid-state hard drive
• According to a Reuters, coffee roaster Starbucks Corp (NASDAQ:SBUX) increased prices of some of its fdrinks in major markets like Southern California, Chicago, Washington, Oregon, and Hawaii
• Retailer Abercrombie & Fitch Co.’s (NYSE:ANF) shares fell 13.64% after the company's third-quarter earnings results came in below the Street’s expectations
• Share prices of Tessera Technologies Inc. (NASDAQ:TSRA) rose 20.39% to close at $17.42 after the developer of chip technology announced that Samsung Electronics has renewed its licensing deal till 2017
• SunTrust downgraded shares of Crawford & Company (NYSE:CRD.B) to "Neutral" rating from "Buy" rating
• Wunderlich Securities downgraded shares of Chimera Investment Corporation (NYSE:CIM) by two notches from "Hold" rating to "Sell" rating
ABERCROMBIE (ANF): Free Stock Analysis Report
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CRAWFORD & CO B (CRD.B): Free Stock Analysis Report
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Samsung Renews Tessera License
Date : 11/16/2011 @ 6:30AM
Source : Business Wire
Stock : Tessera Technologies, Inc. (TSRA)
Quote : 16.91 -0.15 (-0.88%) @ 6:01PM
Tessera Technologies, Inc. (NASDAQ: TSRA) (the “Company”) announced today that Samsung Electronics Co., Ltd. exercised the renewal option in its Jan. 1, 2005 license agreement with Tessera, Inc. to extend the term of that license to May 17, 2017.
“We are delighted to have Samsung, a worldwide leader in memory technology, elect to renew its license agreement with Tessera, Inc.,” said Richard Chernicoff, president of the Intellectual Property and Micro-electronics Division of Tessera, Inc. “Samsung's intellectual property team is among the most sophisticated in the world, and we greatly value their decision to renew our license.”
“We are very pleased that Samsung elected to renew its Tessera, Inc. license agreement, extending the long-term commercial relationship between our two companies,” stated Robert A. Young, chief executive officer of Tessera Technologies, Inc. “We look forward to expanding our business relationships with them.”
Safe Harbor Statement
This document contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ significantly from those projected, particularly with regard to the business relationship between Tessera Technologies, Inc. (the Company) and Samsung, including any future revenue from Samsung. Material factors that may cause results to differ from the statements made include changes to the plans or operations relating to its businesses and groups, market or industry conditions; the future expiration of license agreements and the cessation of related royalty income; the failure or refusal of licensees to pay royalties; delays, setbacks or losses relating to our intellectual property or intellectual property litigation, or any invalidation or limitation of key patents; fluctuations in operating results due to the timing of new license agreements and royalties, or due to legal costs; changes in patent laws, regulation or enforcement, or other factors that might affect our ability to protect our intellectual property; the risk of a decline in demand for semiconductor products; failure by the industry to adopt technologies covered by our patents; and the future expiration of our patents. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. The Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended Dec. 31, 2010 and Form 10-Q for the period ended September 30, 2011 include more information about factors that could affect our financial results. The Company assumes no obligation to update information contained in this press release. Although this release may remain available on the Company's website or elsewhere, its continued availability does not indicate that the Company is reaffirming or confirming any of the information contained herein.
About Tessera Technologies, Inc.
Tessera Technologies, Inc, through its subsidiaries, develops, invests in, licenses and delivers innovative miniaturization technologies and products for wireless and computing products. The Company is headquartered in San Jose, California. More than 65% of the Company’s employees are dedicated technologists or inventors. The Company’s micro-electronics solutions enable smaller, higher-functionality devices through chip-scale and wafer-level packaging, silicon-level interconnect and 3-D packaging, as well as silent air cooling technology. The Company’s imaging and optics solutions provide cost-effective, high-quality camera functionality in consumer electronic products through technologies that include Extended Depth of Field (EDoF), zoom and MEMS-based auto-focus. The Company also offers custom micro-optics for semiconductor lithography, communications, medical, industrial and other applications. 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.
TSRA has confirmed that earnings will be announced 11/03/2011. With a single analyst covering TSRA, the EPS estimate is $0.11.
TSRA 3Q earnings 11-3-11 AMC
Tessera Technologies to Announce Third Quarter 2011 Results
Press Release Source: Tessera Technologies, Inc. On Tuesday October 11, 2011, 4:05 pm EDT
SAN JOSE, Calif.--(BUSINESS WIRE)-- Tessera Technologies, Inc. (Nasdaq:TSRA - News) will announce its third quarter ended Sept. 30, 2011 earnings results after the market closes on Thursday, Nov. 3, 2011. Tessera will host an earnings conference call at 2:00 P.M. Pacific (5:00 P.M. Eastern).
Concurrent with the publication of its earnings press release, Tessera will post to its website management’s prepared remarks regarding Tessera’s quarterly performance. These prepared remarks are being made available prior to the conference call in order to provide the investment community with additional time to analyze Tessera’s results. The conference call will include management’s introductory remarks, followed by a Q&A session.
To access Tessera’s third quarter of 2011 earnings conference call in the U.S., please dial 877-290-8631, and for international callers dial 706-643-3789, approximately 10 minutes prior to the start of the conference call. The conference call will also be broadcast live over the Internet and available for replay for 90 days at www.tessera.com. In addition, a replay of the call will be available via telephone for two business days, beginning two hours after the call. To listen to the telephone replay in the U.S., please dial 855-859-2056. International callers please dial 404-537-3406. Enter access code 14562541.
I don't see why this plummeted like a rock, seems interesting... Reports weren't that bad...I mean we are getting out of a recession...
Tessera sees sequential fall in Q1 rev; to cut jobs
Reuters
Jan 27, 2011
(Corrects range of Q1 charge to $2.5-$3.0 mln from $2.5-$3.5 mln. Correction in bullet and text)
* Q4 rev $80.4 mln vs est $77.8 mln
* Q4 adj shr $0.44 vs est $0.27
* Sees Q1 rev $65-$68 mln vs est $72.8 mln
* To cut up to 15 percent global workforce
* To incur $2.5-$3.0 mln charge in Q1
Jan 27 (Reuters) - Chip designer Tessera Technologies Inc (TSRA.O) forecast a sequential fall in first-quarter revenue on sluggish license renewals, and said it plans to cut up to 15 percent of jobs.
Shares of the company were down 8 percent in extended trade.
The San Jose, California-based company, which reported fourth-quarter revenue of $80.4 million, said it expects first-quarter revenue of $65-$68 million.
Analysts on average were expecting $72.8 million in first quarter revenue, according to Thomson Reuters I/B/E/S.
"Five licensees or former licensees are either in breach or have not yet renewed," it said.
The company also announced that it will downsize 15 percent of its workforce to save costs, and incur a $2.5-$3.0 million charge in the first quarter.
Tessera had 416 workers as on Jan. 31 last year, according to its latest annual filing.
For the fourth quarter, the company earned $13.5 million, or 27 cents a share. Excluding items, it earned 44 cents a share, while analysts were looking for 27 cents.
Tessera is currently in litigation with Qualcomm Inc (QCOM.O), Spansion Inc (CODE.N), Freescale Semiconductor Inc [FSLSM.UL], ATI Technologies and STMicroelectronics NV (STM.PA) in a chip patent dispute. [ID:nN21255111]
Shares of the company were down 8 percent in extended trading at $19.50. They closed at $21.21 on Thursday on Nasdaq.
http://www.reuters.com/article/2011/01/28/tessera-idUSSGE70Q0ET20110128?feedType=RSS&feedName=technologySector&rpc=43
Form 8-K for TESSERA TECHNOLOGIES INC
27-Jan-2011
Results of Operations and Financial Condition, Costs Associated with Exi
Item 2.02. Results of Operations and Financial Condition.
On January 27, 2011, Tessera Technologies, Inc. ("Tessera") issued its fourth quarter 2010 press release and management's prepared remarks. A copy of the press release and management's prepared remarks are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Form 8-K and are incorporated by reference herein.
Item 2.05. Costs Associated with Exit or Disposal Activities.
On January 26, 2011, Tessera's Board of Directors approved a worldwide workforce reduction, primarily in the Micro-optics and Embedded Image Enhancement business lines, as well as in certain headquarters support functions, in order to focus on technologies that are growth opportunities. The workforce reduction is expected to be completed during the first quarter of 2011. Tessera expects to incur severance and other related costs in connection with the workforce reduction in the range of $2.5 million to $3.0 million. Tessera expects to recognize a total charge of $2.5 million to $3.0 million for these costs in the first quarter of 2011.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
99.1 Press Release dated January 27, 2011
99.2 Management's Prepared Remarks dated January 27, 2011
http://biz.yahoo.com/e/110127/tsra8-k.html
Form 8-K for TESSERA TECHNOLOGIES INC
24-Jan-2011
Change in Directors or Principal Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b) On January 24, 2011, Bruce McWilliams resigned from his position as a member of the board of directors of Tessera Technologies, Inc., effective immediately.
A copy of the registrant's Press Release dated January 24, 2011 is attached hereto as Exhibit 99.1 and incorporated by reference herein.
http://biz.yahoo.com/e/110124/tsra8-k.html
Tessera to Present at Photonics West
BUSINESS WIRE
San Jose, Calif
January 18, 2011, 7:00 am EST
Tessera Technologies, Inc. (Nasdaq:TSRA - News) will present a paper at SPIE’s Photonics West.
WHO:
Hudson Welch, Director of New Technology, Tessera
WHAT:
The evolution of wafer-level cameras
WHERE: SPIE Photonics West
The Moscone Center
Room 110, Exhibit Level
San Francisco California
WHEN: January 25, 2011
1:50pm – 3:30pm
In addition, Tessera will showcase its OptiML™ micro-optic solutions at Booth #1016 in The Moscone Center’s South Hall.
Contact:
Tessera
Judy Erkanat, +1-408-321-6751
jerkanat@tessera.com
or
LEWIS PR for Tessera
Chris Ulbrich, +1-415-992-4400
Tessera@lewispr.com
http://finance.yahoo.com/news/Tessera-to-Present-at-bw-185762970.html?x=0&.v=1
SEMI Recognizes Developers of Tessera Chip-Scale Packaging Technology
January 11, 2011, 5:05 pm EST
SAN JOSE, Calif.--(BUSINESS WIRE)-- Tessera Technologies, Inc. (Nasdaq:TSRA - News) congratulates Thomas DiStefano, John W. Smith, Jr. and Michael Warner on being named the recipients of the 2010 SEMI Award for North America for their contributions to Tessera® chip-scale packaging (CSP) technology.
SEMI recognized DiStefano, Smith and Warner for their significant work to develop and commercialize Tessera’s µBGA® technology, which has been widely adopted for high-volume memory and logic devices.
“We are pleased that SEMI has chosen to recognize these three pioneers for their innovative contributions to the electronics industry,” said Henry R. Nothhaft, chairman and chief executive, Tessera. “Our CSP technology removes semiconductor package size limitations, transforming electronics by reducing overall product dimensions, improving performance, and enabling new levels of integration and miniaturization in portable electronics.”
About Tessera
Tessera Technologies, Inc. invests in, licenses and delivers innovative miniaturization technologies for next-generation electronic devices. The company’s micro-electronics solutions enable smaller, higher-functionality devices through chip-scale, 3D and wafer-level packaging technology, as well as high-density substrate and silent air cooling technology. Tessera’s imaging and optics solutions provide low-cost, high-quality camera functionality in electronic products and include image sensor packaging, wafer-level optics and image enhancement intellectual property. The company also offers customized micro-optic lenses, from diffractive and refractive optical elements to integrated micro-optical subassemblies. Tessera licenses its technologies, as well as delivers products based on these technologies, to promote the development of the supply chain infrastructure. The company is headquartered in San Jose, California. For information call 1.408.321.6000 or go to www.tessera.com.
Contact:
Tessera
Judy Erkanat, +1-408-321-6751
jerkanat@tessera.com
or
LEWIS PR for Tessera
Chris Ulbrich, +1-415-992-4400
Tessera@lewispr.com
http://finance.yahoo.com/news/SEMI-Recognizes-Developers-of-bw-510183532.html?x=0&.v=1
Tessera Technologies to Announce Fourth Quarter 2010 Results
Jan. 8, 2011
SAN JOSE, Calif.--(BUSINESS WIRE)-- Tessera Technologies, Inc. (Nasdaq:TSRA - News) will announce its fourth quarter ended Dec. 31, 2010 earnings results after the market closes on Thursday, Jan. 27, 2011. Tessera will host an earnings conference call at 2:00 P.M. Pacific (5:00 P.M. Eastern).
Concurrent with the publication of its earnings press release, Tessera will post to its website management’s prepared remarks regarding Tessera’s quarterly performance. These prepared remarks are being made available prior to the conference call in order to provide the investment community with additional time to analyze Tessera’s results. The conference call will include management’s introductory remarks, followed by a Q&A session.
To access Tessera’s fourth quarter of 2010 earnings conference call in the U.S., please dial 866-531-1286, and for international callers dial 706-643-3789, approximately 10 minutes prior to the start of the conference call. The conference call will also be broadcast live over the Internet and available for replay for 90 days at www.tessera.com. In addition, a replay of the call will be available via telephone for two business days, beginning two hours after the call. To listen to the telephone replay in the U.S., please dial 800-642-1687. International callers please dial 706-645-9291. Enter access code 36007442.
http://finance.yahoo.com/news/Tessera-Technologies-to-bw-355355806.html?x=0&.v=1
Tessera Licenses Patents to Olympus Imaging
January 6, 2011, 4:15 pm EST
SAN JOSE, Calif.
Tessera Technologies, Inc. (Nasdaq:TSRA - News) today announced that Olympus Imaging Corporation, a leading provider of digital cameras, has signed a worldwide licensing agreement with a Tessera subsidiary under which Olympus is licensed to Tessera’s patents for red-eye detection and removal technology.
“Tessera is pleased Olympus, a leading member of the global digital still camera industry, has signed its license agreement with us,” said Henry R. Nothhaft, chairman and chief executive officer, Tessera. “We continue to make our innovative technologies widely available to our served markets.”
About Tessera
Tessera Technologies, Inc. invests in, licenses and delivers innovative miniaturization technologies for next-generation electronic devices. The company’s micro-electronics solutions enable smaller, higher-functionality devices through chip-scale, 3D and wafer-level packaging technology, as well as high-density substrate and silent air cooling technology. Tessera’s imaging and optics solutions provide low-cost, high-quality camera functionality in electronic products and include image sensor packaging, wafer-level optics and image enhancement intellectual property. The company also offers customized micro-optic lenses, from diffractive and refractive optical elements to integrated micro-optical subassemblies. Tessera licenses its technologies, as well as delivers products based on these technologies, to promote the development of the supply chain infrastructure. The company is headquartered in San Jose, California. For information call 1.408.321.6000 or go to www.tessera.com.
Tessera and the Tessera logo are trademarks or registered trademarks of Tessera Inc. or its affiliated companies in the United States and other countries. All other company, brand and product names may be trademarks or registered trademarks of their respective companies.
Contact:
Tessera
Judy Erkanat, +1-408-321-6751
jerkanat@tessera.com
or
LEWIS PR for Tessera
Chris Ulbrich, +1-415-992-4400
Tessera@lewispr.com
http://finance.yahoo.com/news/Tessera-Licenses-Patents-to-bw-3994931518.html?x=0&.v=1
BIG block buys at the days end==>
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15:59:59 BOX 100 21.90
1/10/2011 15:59:59 PSE 100 21.90
1/10/2011 16:00:00 NASDAQ NM 27536 21.90
1/10/2011 16:03:20 NASDAQ NM 200 21.70
1/10/2011 16:05:50 NASDAQ NM 9877 21.90
1/10/2011 16:17:37 NASDAQ NM 119 21.90
1/10/2011 16:25:36 NASDAQ NM 900 21.95
1/10/2011 16:49:46 NASDAQ NM 100 21.91
1/10/2011 16:49:54 NASDAQ NM 100 21.92
1/10/2011 17:21:02 NASDAQ NM 421 21.90
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setting up for a nice open tomorrow.
(EDIT)yes..i agree. second hand info is not the way to go.
that is why i go directly to the US Court of Appeals for the Federal Circuit. a wealth of info.
here you go for your own inspection of the site.
click on Cases...move to what ever drop down will give you the info you are searching.
here is the site;
http://www.cafc.uscourts.gov/
O.K. I stand corrected, don't trust that website...
Patent# 5852326 & 6433419 & 6133627 & 5679977 expired on September 24, 2010.
Patent# 5663106 will expire on September 2, 2014.
you're quite welcome LincolnStocks.
good find on your behalf also siting patents expiration.
i think the fact that Motorola (M) signed on, before this lawsuit was instituted, will only benefit TSRA. M is big & powerful and you know that their attorneys totally reviewed TSRA's patents and claims of infringement and discerned that the patents are locked up and start the royalty process.
if my example is true, then the fact that M has signed on can only strengthen TSRA case for infringements from the other various companies. all the needs to be determined is how much damage is to be awarded to TSRA from each company. which there will be an appeal for findings on that. TSRA, at that point, has to literally present the actual and literal damages of infringement.
all in a days work.
like i stated...i think this can easily hit $30 especially if another one of the BiG BoyS signs on. they are using TSRA patent so it's payup time.i don't think it's a matter of if...its when.
GLTU
Thank you nlightn there is a lot of time before these expire, and as you all may know companies have a tendency of modifying patents to make them better and ultimately lock the patents for even longer.
these patents are great:
pat. no. 5852326 was Issued on December 22, 1998 and has an estimated Expiration Date: July 6, 2018. It is related to Face-up semiconductor chip assembly. The full patent can be found:
http://www.freepatentsonline.com/5852326.pdf
pat. no. 5852326 was Issued on August 13, 2002 and has an estimated Expiration Date: January 20, 2020. It is also related to Face-up semiconductor chip assemblies. The full patent can be found:
http://www.freepatentsonline.com/6433419.pdf
TSRA - United States Court of Appeals for The Federal Circuit
http://www.cafc.uscourts.gov/images/stories/opinions-orders/09-1460.pdf
can't find it...
Does this mean this is a one time charge? Someone please say no with proof....
On May 24, 2007, the parties stipulated to temporarily stay this action pending completion of Investigation No. 337-TA-605, including appeals, before the International Trade Commission (“ITC”). On August 5, 2008, the court ordered that this action be further stayed pending completion, including appeals, of Investigation No. 337-TA-649 before the ITC, which Investigation was terminated in July 2009. The matter currently remains stayed, with a Case Management Conference currently set for December 14, 2010. The Company expects that potential damages continued to accrue during the stay period through the expiration of the asserted patents in September of 2010. Upon completion of Investigation No. 337-TA-605, including any appeals, the proceeding may continue, with Tessera seeking to recover its damages attributable to the alleged infringement.
In September 2010, the ‘977 and ‘627 patents expired.
read the court decision.
does anyone know the technical details of the patent? Or did anyone see somewhere where they discuss the actual technology that is patented?
I ask beause it will show how long these royalties/lisences will last, if it's dying tech it won't help, but if it's new and cutting edge I feel it may last....
i think that it has the potential to go to $30's.
i state that because TSRA won the infringement case against the BiG BoyS...Qualcomm, Freescale, ST Microelectronics, ATI and Spansion to be exact.
so if these companies desire to continue using Tessera's patented technology they have to pay royalty. Motorola Inc., which was among the companies Tessera targeted in its lawsuits, has since signed a licensing agreement with Tessera.
when one of the other BiG BoyS sign on is when it will go up in pps. when that will happen no one knows. but the courts decided that the BiG BoyS are in fact infringing and TSRA is going to pursue collecting royalties for the entire time of infringement. "Tessera has the option of pursuing a district court action for any back damages that may be relevant to the expired patents."
bottom line is something has to be worked out. either the BiG BoyS stop using TSRA's patented technology or they start to pay royalty for it.
i think that it has the potential to go to $30's.
JMHO
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