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Tessera Technologies Inc. Message Board

  • jimgray30 jimgray30 Jul 6, 2011 5:59 PM Flag

    Preliminary Earnings

    Definitely not great news, but I think market is overreacting and I will be adding at opening.

    Revenue of $71m (higher than previous Q of 67m)
    Operating Expenses (incl. litigation) is ~44m (compared to 52m in Q1)
    EBIT estimate would be $19m (26% margin)

    Verse EBIT in Q1 of $16m (24% margin)

    Am I missing something?

    It also sounds like 8.8m of this is stock comp?

    Looks like $6m of Net income + 4m of amort. + 2m of depr. + 8 stock comp - 2m capex? = 18m FCF.

    Still awesome cash flow yield.

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    • Earnings shortfall in the past brings TSRA share price lower.

      Have to wait for the bounceback in 2012 20+.

      Management increase shareholder value only by doing spinoff - sooner the better.

      Will be surprised to see TSRA <13.

      Many disown TSRA because of inconsistent earnings; hold at 20+ only to see it 15+ and seeing 30+ is only a dream.

 
TSRA
36.45-0.99(-2.64%)May 5 4:00 PMEDT