SAN FRANCISCO (Thomson Financial) - Tessera Technologies late Thursday
reported fourth-quarter net earnings of $13 million, or 27 cents a share, or
adjusted earnings of $25.1 million, or
51 cents a share.
Revenue in the quarter climbed 5.5% to $53 million.
The mean estimate of analysts polled by Thomson Financial was for a
per-share profit of 26 cents on revenue of $53 million.
San Jose, Calif.-based Tessera, a provider of miniaturization technologies
for the electronics industry, also said it has agreed to acquire privately held
FotoNation for $29 million in cash, with up to $10 million of additional
consideration, contingent upon certain milestones over one year.
The deal is seen closing in February.
Tessera expects the acquisition to be neutral to 1 to 2 cents dilutive to
its adjusted earnings for the full year 2008, and be accretive thereafter.
Revenue for the first quarter of 2008 is expected in a range of $55 million
to $57 million, and second-quarter revenue is seen in a range of $53 million to
$55 million.
Shares of Tessera closed at $39.17 and rose 6.7% in after-hours.
Gabriel Madway
gm
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