WILMINGTON, Del., May 16, 2013 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq:IDCC), a wireless research and development company, today announced that it currently expects its second quarter 2013 revenue to be between $67.5 and $74 million. This revenue guidance is based on royalty reports and a payment pursuant to an arbitration decision 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 additional payments pursuant to the arbitration decision or other dispute resolutions that may occur, during the balance of second quarter 2013.
"Our revenue guidance for second quarter 2013 includes approximately $43.5 million related to current patent royalties and approximately $24 to $30.5 million related to past sales, nearly all of which relates to the approximately $30 million that we received pursuant to the favorable arbitration decision involving Pegatron Corporation announced on April 25, 2013," said Richard J. Brezski, InterDigital's Chief Financial Officer. "Whether we hit the top or bottom of the revenue range will depend upon our classification of the interest portion of the Pegatron payment as revenue or other income, but either classification will provide the same benefit to our bottom line. Any increase in second quarter revenue above the expected range would be largely dependent upon our entry into new agreements, results of other arbitrations or meeting revenue recognition criteria for additional amounts pursuant to the Pegatron arbitration decision, including amounts due for sales that occurred beyond the arbitration period, which ended June 30, 2012."
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 second quarter 2013 revenue. Words such as "expects," "projects", "forecasted," 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 2013; (iv) the timing and outcome of the company's litigation and arbitration proceedings and the payment of any related awards; and (v) the final accounting treatment of the payment pursuant to the arbitration decision. 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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