Tessera Technologies Inc. (TSRA) announced that its fourth-quarter GAAP net income was $6.36 million, or $0.13 per share, compared to $7.69 million or $0.16 per share in the year ago quarter. The latest quarter results included non-cash charges of $7.5 million for stock-based compensation and $3.3 million for amortization of acquired intangibles.
Non-GAAP net income for the fourth quarter was $16.01 million or $0.31 per share, compared to $16.02 million or $0.33 per share in the year ago quarter.
Total revenues were $56.47 million, compared to $69.13 million in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.13 per share on revenues of $55.99 million for the quarter. Analysts' estimates typically exclude special items.
First quarter 2010 total revenues are expected to range between $58.0 million and $61.0 million. This compares to the company's previous guidance of between $59.0 million and $61.0 million. The new guidance is due the company's assessment of recent public announcements from certain of the company's licensees. Analysts expect the company to report revenues of $60.07 million for the quarter.
First quarter 2010 Micro-electronics revenue is expected to range between $50.0 million and $53.0 million, all of which will be royalty and license related. This compares to the company's previous guidance of between $51.0 million and $53.0 million.
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