WILMINGTON, Del., Aug. 21, 2014 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq:IDCC), a wireless research and development company, today announced that it expects its total third quarter 2014 revenue to be between $74 million and $76 million.
"We expect total revenue for third quarter 2014 to be in the range of $74 million to $76 million, with recurring revenues contributing $70 million to $72 million," noted Richard J. Brezski, Chief Financial Officer, InterDigital. "Our third quarter revenue guidance does not include any contribution from the arbitration award we received last quarter related to our agreement with Arima. We will recognize any revenue related to the Arima arbitration award when all criteria for revenue recognition have been met."
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 other arbitration or dispute resolutions that may occur, during the balance of third quarter 2014.
InterDigital develops 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 third quarter 2014 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 2014; 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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