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Tessera Technologies Finance Case Study

Autor:   •  March 9, 2013  •  Case Study  •  1,772 Words (8 Pages)  •  1,026 Views

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Tessera Technologies

September 22

2012

NASAQ - TSRA

Tessera Technologies, Inc. (together with its subsidiaries, the “Company”) was founded and incorporated in the state of Delaware in 1990. It is a technology innovator that develops, invests in, licenses and delivers innovative miniaturization technologies and products for next generation electronic devices. Its Micro-Electronics solutions enable smaller, higher functionality devices through: semiconductor packaging technologies. The majority of Tessera’s revenue from license fees and royalties received under patent license agreement associate with Micro-electronic technology, with a growing contribution from their Imaging and Optics technologies. These Micro-electronics packaging technologies have been licensed to more than 70 companies, including Motorola, Intel, Hynix, Renesas, Samsung, Sharp, Powertech, Texas Instruments, and Toshiba. The Intellectual Property business, comprised of engineering, licensing, account administration and litigation teams, generates revenue from patented innovations through license agreements with semiconductor companies and outsourced semiconductor assembly and test companies. DigitalOptics business delivers innovation in imaging and optics with products and capabilities that enable expanded functionality in increasingly smaller devices. DigitalOptics’ miniaturized camera module solutions provide cost-effective, high-quality camera features, including MEMS-based auto-focus, extended depth of field, zoom, image enhancement and optical image stabilization. These technologies can be applied to mobile phones and other consumer electronic products. On May 5, 2010, Tessera completed the acquisition of Siimpel Corporation (“Siimpel”), a developer and manufacturer of MEMS-based camera solutions for mobile imaging applications for $15.0 million. Siimpel’s MEMS Auto-focus and MEMS Auto-focus + Shutter solutions complement its image enhancement solutions and enable us to offer a wider range of high-value IP-based imaging and optics solutions.

A snapshot of Tessera Technologies financial data below shows that the company is in good financial strength. Its profitability ratios is also at 89.2 compare to the overall Semiconductor industry of 48 making TSRA a fair to good investment comparing to its peers. According to S&P, three months through July 2012, the North American semiconductor equipment industry's book-to-bill ratio was 0.87, below the 1.00 level that typically indicates a period of industry expansion. At this time S&P rated TSRA a B- compare to its industry peer of NR or C.

Detailed descriptions of the consolidated financial statements are as followed.

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