Seeking Alpha

Tessera to cease DOC manufacturing operations

  • New management gets busy at Tessera Technologies (TSRA)  which intends to refocus efforts on monetizing DigitalOptics technologies, including solutions for imaging and MEMS technologies.
  • "The changes announced today will enable the company to return its focus to its core IP business, will substantially reduce the company's operating costs, and provide the Company with a path to improved financial performance and profitability."
  • The company expects to take a charge of $50M-$55M, with about 75% of that amount coming in Q4 results. DOC-related operating expenses are expected to fall by about $17M and be fully realized by Q3 of this year.
  • CC at 8:30 ET
  • Press release
  • Shares are currently halted.
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