Tessera with 3Q net loss of USD 1.1M
“During the third quarter of 2012, our Intellectual Property teams continued to demonstrate infringement of Tessera, Inc. and Invensas Corporation patents to many manufacturers. We look forward to new long-term licenses that will give our customers freedom of operation under our portfolios of patented ideas,” stated Robert A. Young, chief executive officer and president, Tessera Technologies, Inc. “We also successfully gained initial original equipment manufacturer adoption for our DIMM-IN-A-PACKAGETM solution for use in UltrabooksTM and tablets.”Turning to our DigitalOptics segment, in the third quarter we made further progress towards our goal of shipping our MEMS autofocus technology in the fourth quarter. We also began construction of our optical component manufacturing site in Taiwan and began converting our production facility in Zhuhai, China to enable the manufacture of our next-generation MEMS camera modules, which we anticipate shipping in the first half of 2013.”Third Quarter 2012Total revenue was $72.7 million.Intellectual Property segment revenue was $57.9 million.DigitalOptics segment revenue was $14.8 million.Total revenue for the third quarter of 2012 was $72.7 million, compared to $59.3 million of total revenue in the third quarter of the prior year. Intellectual Property segment revenue for the third quarter of 2012 was $57.9 million, compared to $50.3 million in the third quarter of the prior year, which included a nonrecurring $1.0 million license fee. The year-over-year increase was due primarily to the payment from Amkor Technology, Inc. related to the International Court of Arbitration of the International Chamber of Commerce interim award, offset in part by declining royalty income from Micron Technology, Inc. and Powertech Technology Inc.DigitalOptics segment revenue for the third quarter of 2012 was $14.8 million, compared to $9.0 million in the third quarter of the prior year. The increase was due primarily to camera module product sales from the Company’s recently acquired manufacturing facility in Zhuhai, China.GAAP net loss for the third quarter of 2012 was $1.1 million, or $0.02 per basic share, which included non-cash charges of $6.2 million for amortization of acquired intangibles and $4.0 million for stock-based compensation.Non-GAAP net income for the third quarter of 2012 was $6.5 million or $0.12 per diluted share. Non-GAAP net income is defined as income and operating expenses adjusted for acquired intangibles amortization, charges for acquired in-process research and development, stock-based compensation expense, impairment charges on long-lived assets and goodwill, and related tax effects.Nine-month Period Ended Sept. 30, 2012Total revenue was $180.8 million.Intellectual Property segment revenue was $149.9 million.DigitalOptics segment revenue was $30.9 million.GAAP net loss for the nine-month period was $9.6 million, or $0.19 per diluted share. Non-GAAP net income for the nine-month period was $14.5 million, or $0.27 per diluted share.