Tessera Technologies Inc. (TSRA) reported third-quarter net income of $12.134 million compared to a net loss of $5.357 million last year. Earnings per share was $0.24 compared to a loss of $0.11 last year.
Non-GAAP net incme increased to $19.160 million from $2.337 million last year. Non-GAAP earnings per share increased to $0.37 from $0.05 a year ago.
On average, 7 analysts polled by Thomson Reuters expected the company to report profit of $0.21 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues increased to $66.123 million from $63.501 million last year. Analysts expected revenue of $65.70 million for the quarter.
The company expects fourth-quarter total revenues to range between $60.0 million and $62.0 million.
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