WILMINGTON, Del., Nov. 4, 2013 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq:IDCC), a wireless research and development company, today announced that it expects its total fourth quarter 2013 revenue to be between $80 million and $83 million. The revenue guidance for fourth quarter 2013 includes $53 million to $56 million of current revenue, as well as approximately $27 million of past sales revenue that primarily result from the interplay between awards received under two separate customer arbitrations.
"We are pleased to report our expectations for a substantial increase in quarterly recurring licensing revenue in fourth quarter 2013, driven by the launch of new LTE devices and our diligence in managing license relationships," noted Richard J. Brezski, Chief Financial Officer, InterDigital. "While we saw a decline in royalties from some of our historically strong per-unit licensees, our solid licensing efforts with mobile device original design manufacturers and the increasing diversification of OEM supply chains are expected to drive a significant sequential increase in recurring patent licensing revenue."
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 other arbitration or dispute resolutions that may occur, during the balance of fourth quarter 2013.
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: 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 2013 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 fourth quarter 2013; and (iv) the timing and outcome of the company's litigation and arbitration proceedings and the payment of any related awards. 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.
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