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InterDigital Issues Financial Guidance for Fourth Quarter 2012
By: Business Wire
Nov. 12, 2012 08:36 AM
InterDigital, Inc. (NASDAQ: IDCC) today announced financial guidance for fourth quarter 2012. The company expects fourth quarter 2012 revenue to be between $62 million and $64 million. This revenue guidance is based on royalty reports received to date, and does not include the potential impact of any new patent license, technology solutions or patent sale agreements that may be signed, or any arbitration decisions that may be received, during the balance of fourth quarter 2012.
"We expect fourth quarter 2012 revenue to be at least $62 million, of which approximately $61 million is expected to relate to current patent royalties. That amount of current patent royalties, if realized, would represent a 6% increase over third quarter 2012,” said Richard J Brezski, InterDigital’s Chief Financial Officer. “The expected sequential increase in current patent royalties is primarily due to stronger sales volumes from our Japan-based licensees. Whether we achieve the high end of our forecasted revenue range depends on the timing of the resolution of an outstanding audit with an existing licensee and the receipt of an additional royalty report covering past sales. Any additional increase in fourth quarter revenue above the expected range would be largely dependent upon the entry into potential new agreements and/or arbitration results.”
InterDigital develops fundamental wireless technologies that are at the core of mobile devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400® index.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit the InterDigital website: www.interdigital.com.
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding our current expectations with respect to the company's fourth quarter 2012 revenue. Words such as "expects," "forecasted," "projected," variations of such words or similar expressions are intended to identify such forward-looking statements.
Forward-looking statements are subject to risks and uncertainties. Actual outcomes could differ materially from those expressed in or anticipated by such forward-looking statements due to a variety of factors, including, but not limited to: (i) the entry into additional patent license, patent sales or technology solutions agreements; (ii) the accuracy of market sales projections of the company's licensees and timely receipt and final reviews of quarterly royalty reports from the company's licensees and related matters; (iii) amounts of royalties payable following routine audits, if any, and the timely receipt of such amounts during fourth quarter 2012; and (iv) the timing and outcome of the company’s litigation and arbitration proceedings. We undertake no duty to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority.
For more information, visit: www.interdigital.com.
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