Tessera Technologies Q1 Profit From Cont. Ops. Rises - Quick Facts

(RTTNews) - Tessera Technologies, Inc. (TSRA) reported first-quarter net income from continuing operations of $35.6 million, or $0.66 per share, compared to $33.4 million, or $0.62 per share, prior year. Non-GAAP net income from continuing operations was $40.4 million, or $0.74 per share, for the quarter.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.67 for the quarter. Analysts' estimates typically exclude special items.

Revenue from continuing operations was $79.9 million compared with revenue from continuing operations of $88.3 million in the first quarter of 2014. Analysts expected revenue of $79.00 million for the quarter. Recurring revenue increased by 122% to $51.9 million, from $23.4 million in the first quarter of 2014.

For the second quarter of 2015, the company expects: total revenue to be between $62 million and $64 million, GAAP earnings per share between $0.37 to $0.40 per share, and Non-GAAP earnings per share between $0.47 to $0.50 per share. Analysts expect the company to report second-quarter earnings per share of $0.40 on revenue of $57.31 million.