NEW YORK—Tessera Technologies Inc. Wednesday (July 6) warned that sales for the second quarter fell short of its previously issued sales target due to lower than expected shipments of DRAM units by customers in the first quarter.
Tessera (San Jose, Calif.) said preliminary results indicate that the company notched revenue in the second quarter of about $71 million, below previously announced guidance of $75.5 million to $78.5 million.
Robert Young, Tessera CEO, said the company expects microelectronics revenue of about $61 million, lower than the targeted range of $65 million to $67 million. Tessera recognizes microelectronics revenue the quarter after products ship, Young said, and first quarter actual data came in lower than expectations, he said.
"Actual DRAM units shipped during the first quarter of 2011 were down sequentially compared to the fourth quarter of 2010, driven in part by a faster than anticipated transition from 1 GB to 2 GB," Young said. "This industry transition was in contrast to industry forecasts, which had units rising sequentially in the first quarter as compared to the fourth quarter."
Young said Tessera expects revenue from its Imaging & Optics business unit to be about $10 million, slightly below the company's previously guided
My opinion of Tessera is they need mission oriented leadership. They have been involved with IP litigation with many companies, and to some degree have created a black mark for their reputation. In order to pull out of this nose dive, time to reset the management package, strategies, and directions for this company.
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