- 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.