WILMINGTON, Del., June 21, 2016 (GLOBE NEWSWIRE) -- 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.
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.
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 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: email@example.com +1 (858) 210-4814