InterDigital Issues Revenue Guidance for Second Quarter 2016
June 21 2016 - 3:45PM
InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research and
development company, today announced that it expects its total
second quarter 2016 revenue to be between $75 million to $77
million. This range is comprised almost entirely of recurring
revenue.
This revenue guidance does not include the amounts collected
from Huawei in second quarter 2016 that were due and outstanding
under the arbitration awards at the time of payment. The
company will recognize the related revenue from these payments,
including both a current and a past sales component, in the period
in which it believes the revenue to be fixed and
determinable. The company currently expects to reach that
conclusion, and recognize the related revenue, no later than third
quarter 2016.
This revenue guidance is based primarily 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 or dispute resolutions that
may occur, during the balance of second 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 StatementsThis 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 second quarter 2016 revenue and the
expectation that the company will recognize the related revenue
from the recent Huawei payments no later than third quarter 2016.
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
second 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 timing and outcome of the
accounting conclusions with respect to the amounts collected from
Huawei in second 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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