Shares of Tessera Technologies (TSRA) are trading higher after the company which licenses miniaturization technology for electronic devices issued upside guidance for Q2, saying income from royalties has been higher than expected.
For the quarter, the company now projects revenue between $74 million and $75 million (prior $67.0 – $70.0 mln). Analysts surveyed by Thomson Reuters (TRI) had forecast $68.6 million, on average. San Jose-based Tessera said the boost is due primarily to better than anticipated royalties from its micro-electronics customers and increased sales of its micro-optics products of $65 million to $65.5 million, up from a previously expected $58.5 million to $60.5 million. Imaging and optics revenue is expected to range between $9 million and $9.5 million while imaging & Optics license fees and royalties are expected to range between $3.25 million and $3.5 million.
TSRA today is up $2.04, or 12.09%, to $18.91.