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TSRA > SEC Filings for TSRA > Form 8-K/A on 28-Feb-2014All Recent SEC Filings




Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition.

On February 5, 2014, Tessera Technologies, Inc. (the "Company") filed a Current Report on Form 8-K that included a press release (Exhibit 99.1) dated February 5, 2014, announcing the Company's financial results for the fourth quarter ended December 31, 2013. This Form 8-K/A is being filed to revise the financial results included with such Current Report on Form 8-K.

The previously reported financial results for the fourth quarter ended December 31, 2013 have been revised to include $6.3 million of additional charges related to the restructuring of the Company's DigitalOptics Corporation subsidiary, which was announced on January 16, 2014. The additional charges include (i) an additional $2.6 million of fixed asset impairment charges,
(ii) $3.5 million for commitments on the purchase of equipment and materials and
(iii) $0.2 million in other miscellaneous charges. The additional charges result in a generally accepted accounting principles ("GAAP") net loss for the fourth quarter of 2013 in the amount of $54.1 million, or $1.01 per basic share. For the entire year ended December 31, 2013, GAAP net loss was $185.6 million, or $3.48 per basic share. Set forth below are revised Consolidated Statements of Operations for the three and twelve months ended December 31, 2012 and 2013, and revised Consolidated Balance Sheets as of December 31, 2012 and 2013.

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