Tessera Provides 3Q Update

Tessera Technologies announced it is raising its third quarter 2009 Total Revenue guidance to range between $65.0 million and $66.0 million.

In a release dated September 17, the company stated:

- Third quarter 2009 Micro-electronics Revenue, all of which will be royalty and license related, is now expected to range between $58.0 million and $59.0 million, driven by the improved second quarter performance in the company's served markets. Prior guidance, announced on Aug. 4, was for third quarter Total Revenue to range between $60.0 million and $62.0 million and Micro-electronics Revenue to range between $54.0 million and $56.0 million.

- The company now has greater visibility into its Imaging & Optics business, and as a result, is raising its third quarter 2009 Imaging & Optics Total Revenue to be approximately $7.0 million, of which approximately $4 million will be Royalties and License Fees. Prior guidance, given on Aug. 4, was Imaging & Optics Total Revenue of $6.0 million, of which approximately $3.0 million was Royalties and License Fees.

- The company reiterated its guidance on its other third quarter 2009 items, which remain unchanged:

- - Non-GAAP operating expenses are projected to range between $30.0 million and $31.0 million, excluding litigation expenses.

- - Stock-based compensation is projected to be approximately $7.0 million.

- - Amortization charges are expected to be approximately $3.0 million.

- The company believes its effective tax rate for the full year 2009 will range between 45 percent and 46 percent.

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