(RTTNews) - Tessera Technologies (TSRA: News ) reported third quarter EPS of $0.37 after the bell Thursday, which exceeded the consensus estimate of $0.21. Revenues came in at $66.1 million, compared to the $63.5 million reported last year. The company expects to report fourth quarter revenues of $60 million to $62 million.

Tessera Technologies gapped down sharply Friday and fell in early trade. The stock settled into a narrow range for the majority of the session and closed lower by $4.75 at $22.11 on strong volume. Tessera has been declining for the last week and a half and set a 5-month low.

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by RTT Staff Writer

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