Tessera with revenue if USD 59.3 million in 3Q/2011

Revenue Highlights: Third Quarter 2011 - Total revenues were $59.3 million. - Micro-electronics revenue was $50.3 million. - Imaging & Optics revenue was $9.0 million. Tessera reports total revenue for the third quarter of 2011 was $59.3 million, compared to $82.1 million of total revenue in the third quarter of 2010. Micro-electronics revenue for the third quarter of 2011 was $50.3 million, compared to $72.0 million in the prior year third quarter. Apart from one-time items and the impact of volume pricing adjustments Tessera, Inc. has with two of its major DRAM manufacturer licensees, third quarter 2011 Micro-electronics revenues were down approximately $5.0 million as compared to the third quarter of 2010, due to lower year-over-year units reported by Tessera, Inc.'s licensees. Imaging & Optics total revenue was $9.0 million, compared to third quarter 2010 Imaging & Optics revenue of $10.1 million. In the third quarter of 2011, the decline in the Company's stock price resulted in the Company's market capitalization falling below its net book value of equity for an extended period of time. In accordance with Accounting Standards Codification 350, "Intangibles - Goodwill and Other," the Company was required to perform an impairment analysis and, based on preliminary goodwill impairment tests, the Company recorded a goodwill impairment charge of $49.7 million in the third quarter of 2011. Generally Accepted Accounting Principles (GAAP) net loss for the third quarter of 2011 was $44.7 million, or ($0.87) per basic share, which included the aforementioned goodwill impairment charge as well as non-cash charges of $5.4 million for stock-based compensation and $4.3 million for amortization of acquired intangibles. Non-GAAP net income for the third quarter of 2011 was $10.6 million or $0.20 per diluted share. Non-GAAP net income is defined as income and operating expenses adjusted for acquired intangibles amortization, charges for acquired in-process research and development, stock-based compensation expense, impairment charges on long-lived assets and goodwill, and related tax effects. Cash, cash equivalents, and investments increased $8.5 million during the quarter to $535.6 million at Sept. 30, 2011. "In September, our subsidiary Invensas Corporation (Invensas) publicly unveiled its new multi-die face down (xFD) packaging technology platform, which addresses the upcoming needs of key market segments while using existing wire-bond manufacturing infrastructure, thus significantly reducing the cost, time and risk of high-volume adoption. In October, Invensas announced NANIUM S.A. as the first company to offer Invensas xFD packaging technology in volume", said Robert A. Young, chief executive officer and president, Tessera Technologies, Inc. Revenue Highlights: Nine-month Period Ended Sept. 30, 2011 - Total revenue was $197.8 million. - Micro-electronics revenue was $164.4 million. - Imaging & Optics revenue was $33.4 million. GAAP net loss for the nine-month period was $21.9 million, or ($0.43) per diluted share. Non-GAAP net income for the nine-month period was $51.0 million, or $0.97 per diluted share.