KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--InterDigital, Inc. (NASDAQ: IDCC) today announced financial guidance for second quarter 2011. InterDigital® expects second quarter 2011 revenue to be approximately $69 million. This revenue guidance does not include the potential impact of any additional new agreements that may be signed during second quarter 2011 or the potential impact of any royalties identified in audits regularly conducted by the company.
“Excluding the potential contribution from any new license agreements signed or audits we may resolve during the balance of the quarter, second quarter 2011 revenues from our existing customers are expected to decrease by roughly $9.5 million, or approximately 12%, from first quarter 2011,” commented Scott McQuilkin, InterDigital’s Chief Financial Officer. “This projected sequential decline is due primarily to a decrease in revenue from our per-unit customers based in Japan of $2.8 million, a reduction in past sales of $2.0 million, and a decrease of $2.0 million related to the transition of an existing customer agreement from fixed fee to per-unit.”
About InterDigital
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.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com
This press release contains forward-looking statements regarding current beliefs, plans, and expectations as to the company’s second quarter 2011 revenue. Words such as “expects,” “may,” 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) additional patent license or technology solutions agreements, or amendments to existing patent license or technology solutions agreements; (ii) the accuracy of market sales projections of the company’s customers and timely receipt and final reviews of quarterly royalty reports from the company’s licensees and related matters; and (iii) amounts of royalties payable following other routine audits, if any, and the timely receipt of such amounts during second quarter 2011. InterDigital undertakes no obligation to revise or update publicly any forward-looking statement for any reason, except as otherwise required by law.