Tessera Technologies Inc. (San Jose, CA), a developer of semiconductor packaging technology for miniaturization of electronic products, raised its financial guidance for its third quarter by approximately $2 million, and now expects revenues in the range of $22.3 to $22.6 million.
Net income is expected to range between $12 and $12.2 million. The company had previously given guidance for third-quarter revenues of $20.1 to $20.5 million and net income of $10 to $10.3 million.
"We are revising our guidance upward as recent reports from our customers indicate Tessera will receive greater than expected royalty revenue during the third quarter," said Bruce McWilliams, chairman and CEO of Tessera. "This increase is broad-based and reflects strength in both wireless and consumer electronics end markets."
