InterDigital Issues Revenue Guidance for Third Quarter 2016
September 08 2016 - 8:30AM
InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research and
development company, today announced that it expects its total
third quarter 2016 revenue to be between $200 million and $225
million.
“We expect third quarter recurring revenues to
be in the range of $80 million to $85 million and past sales to be
between roughly $120 million and $140 million,” noted Richard J.
Brezski, Chief Financial Officer, InterDigital. “This revenue
guidance reflects sequentially lower per-unit royalties from
certain Taiwanese licensees driven by the timing of anticipated new
product introductions, offset by a higher fixed-fee royalty
component based on the estimated impact of patent license
agreements signed during the quarter.”
The guidance is based on preliminary accounting results that are
subject to review and finalization. In addition, this revenue
guidance is based primarily on royalty reports received to date,
and does not include the potential impact of any other new patent
license, technology solutions or patent sale agreements that may be
signed, or any arbitration or dispute resolutions that may occur,
during the balance of third quarter 2016.
About InterDigital®
InterDigital develops mobile technologies that are at the core
of 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.
Forward-Looking Statements
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 the
company’s current expectations with respect to third quarter 2016
revenue. Words such as "expects," "projects," "forecast," and
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 third
quarter 2016; (iv) the timing and outcome of the company's
litigation and arbitration proceedings and the payment of any
related awards; (v) new developments in the company’s litigation or
arbitration proceedings and (vi) the final accounting conclusions
with respect to the patent license agreements signed in third
quarter 2016. 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.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
InterDigital Contact:
Patrick Van de Wille
Email: patrick.vandewille@interdigital.com
+1 (858) 210-4814
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