Tessera Technologies Goes Negative
Tessera Technologies (NAS: TSRA) reported earnings on April 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Tessera Technologies met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly and GAAP earnings per share dropped to a loss.
Margins shrank across the board.
Tessera Technologies logged revenue of $46.7 million. The two analysts polled by S&P Capital IQ anticipated net sales of $46.8 million on the same basis. GAAP reported sales were 31% lower than the prior-year quarter's $67.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.16. The three earnings estimates compiled by S&P Capital IQ predicted -$0.08 per share. GAAP EPS were -$0.16 for Q1 versus $0.22 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 87.7%, 420 basis points worse than the prior-year quarter. Operating margin was -15.3%, 5,100 basis points worse than the prior-year quarter. Net margin was -17.3%, 3,380 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $64.1 million. On the bottom line, the average EPS estimate is $0.15.
Next year's average estimate for revenue is $234.0 million. The average EPS estimate is $0.28.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 385 members out of 417 rating the stock outperform, and 32 members rating it underperform. Among 108 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 98 give Tessera Technologies a green thumbs-up, and 10 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Tessera Technologies is outperform, with an average price target of $24.83.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.