UPDATE 2-Tessera revises Q4 revenue view lower; shares fall
* Sees Q4 rev $56 mln vs est $61.3 mln
* Sees Q1 rev $59-61 mln vs est $64.5 mln
* Says received lower royalties from 2 large customers (Adds details)
By Ashutosh Joshi
Jan 6 (Reuters) - Chip technology developer Tessera Technologies Inc (TSRA.O: Cotización) on Wednesday cut its fourth-quarter revenue estimate due to lower-than-expected royalties from two key customers, sending its shares down 9 percent.
The company, which licenses chip technology to a host of companies including Intel Corp (INTC.O: Cotización), Sony Corp (6758.T: Cotización) and Siemens AG (SIEGn.DE: Cotización), also forecast first-quarter revenue below Wall Street estimates.
Tessera said royalties from two of its large micro-electronics customers were lower as they received volume-based pricing incentives.
For the fourth quarter, the company expects revenue of $56 million, down from its earlier view of $60 million to $62 million.
Analysts, on average, expected the company to report revenue of $61.3 million, according to Thomson Reuters I/B/E/S. Continuación...