Tessera rises aftermarket on 3Q revenue outlook

Tessera Tech expects $66.5M to $69M in 3rd-qtr revenue, double-digit gains from year earlier

Associated Press

SAN JOSE, Calif. (AP) -- Tessera Technologies Inc., which licenses miniaturization technology for electronic devices, said Thursday it expects $66.5 million to $69 million in revenue in the third quarter.

The forecast suggests Tessera's revenue will grow 12 to 16 percent compared to the third quarter of 2011 and improve 8 to 12 percent sequentially. The company said it expects to report $53 million to $54 million from its intellectual property business, including a $20 million payment related to its dispute with Amkor Technology. Revenue for the digital optics business was forecast at $13.5 million to $15 million.

Tessera is scheduled to report its full quarterly results Nov. 1. The company reported $59.3 million in revenue in the year-ago quarter.

Shares of Tessera Technologies lost a penny to $14.90 Thursday during regular trading, then advanced 70 cents, or 4.7 percent, to $15.60 in after-hours trading.

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