Here is the financial breakdown (quarterly & annually) of the Imaging & Optics segment taken from CapIQ:
| Imaging & Optics | |||||
| Q1 – 2010 | Q2 – 2010 | Q3 – 2010 | Q4 – 2010 | Q1 – 2011 | |
| Revenues | 8.5 | 9.5 | 10.1 | 9.2 | 14.2 |
| Pre-Tax Op Profit | (11.4) | (13.7) | (13.7) | (17.0) | (8.5) |
| (Dec 31) | 2007 | 2008 | 2009 | 2010 |
| Revenues | 34.2 | 33.7 | 29.7 | 37.3 |
| Pre Tax Op Profit | – | (35.4) | (45.9) | (55.8) |
While the unit continues to lose money, the most recent quarter was a bright spot with higher sales and a reduced pre-tax loss. According to Henry Nothhaft, Chairman & CEO of Tessera, the underlying impetus behind any potential move is the belief that the company “may grow more quickly and better serve its customers as a stand-alone entity.” Or it could be to focus on growing the profitable (although seeing slowing growth) micro-electronics business. In the same press release, Tessera announced the formation of a new group to strategically expand the micro-electronics section.
Tessera has not committed to any move and as a result, the timetable for any potential transaction is unclear. We will keep you updated when more information is released and for some additional insight into the company, check out Frank Voisin who has written quite a bit about it.
Disclosure: Author holds no position in any company mentioned.