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UPDATE 1-Tessera raises Q2 revenue view
June 2, 2010 / 11:44 AM / 7 years ago

UPDATE 1-Tessera raises Q2 revenue view

* Sees Q2 revenue of $74 mln-$75 mln

* Sees Q2 micro-electronics revenue of $65 mln-$65.5 mln

June 2 (Reuters) - Chip technology developer Tessera Technologies Inc TSRA.O raised its second-quarter revenue outlook on better-than-expected royalties from some of its micro-electronics customers and increased sales of its micro-optics products.

The company, which licenses chip technology to a host of companies including Intel Corp (INTC.O), Sony Corp (6758.T) and Siemens AG (SIEGn.DE), expects second-quarter revenue of $74 million to $75 million.

The company had previously forecast second-quarter revenue of $67 million to $70 million.

Analysts expect revenue of $68.6 million, according to Thomson Reuters I/B/E/S.

Tessera expects its micro-electronics revenue to be between $65 million and $65.5 million, up from its prior forecast of about $58.5 million to $60.5 million.

Shares of the San Jose, California-based company closed at $16.87 Tuesday on Nasdaq. (Reporting by Manasi Phadke in Bangalore; Editing by Vinu Pilakkott)

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