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  "documentTitle": "Tessera Technologies Inc. (TSRA)",
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  "notes": "Uses red trend lines to emphasize negative performance trends.",
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      "text": "From 2009 to 2012, Tessera's revenue declined 21.8% while total operating expenses actually increased 40.7% resulting in a massive decline in operating income.",
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      "text": "Revenue 2009-2012",
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      "text": "Total Operating Expenses 2009-2012",
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      "text": "Operating Income 2009-2012",
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      "text": "operating income: $156.0 million",
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      "text": "The primary reason for Tessera’s long-term stock price underperformance has been the continued deterioration of the Company’s consolidated financial performance. From 2009 to 2012, Tessera’s revenue declined 21.8% while total operating expenses actually increased 40.7% resulting in a massive decline in operating income.",
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      "text": "(1) Excludes cost of goods sold as well as non-recurring items, including restructuring and other charges, impairment of long-lived assets, and impairment of goodwill. (2) Excludes non-recurring items, including restructuring and other charges, impairment of long-lived assets, and impairment of goodwill. (3) Calculated as cash flow from operations minus capital expenditures.",
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      "text": "Weak Historical Consolidated Financial Performance",
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