WILMINGTON, Del., Sept. 08, 2016 (GLOBE NEWSWIRE) -- 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.
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 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: email@example.com +1 (858) 210-4814