InterDigital Update Guidance for Fourth Quarter 2020
January 28 2021 - 5:30PM
InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology
research and development company, today provided revenue guidance
for fourth quarter 2020.
The company expects total fourth quarter 2020 revenue to be
between $87 million and $90 million, which includes between $85
million and $88 million of recurring revenue.
The company also expects that in the fourth quarter 2020 it will
recognize one-time charges of approximately $10-11 million,
primarily related to on-going patent portfolio management. The
one-time charges are expected to bring the sequential increase in
operating expenses to approximately $15 million. The company had
previously stated an expected increase of $5 million operating
expenses over third quarter levels, primarily driven by litigation
activities.
About InterDigital®
InterDigital develops mobile and video 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, better video delivery, and richer multimedia experiences
years ahead of market deployment. InterDigital has licenses and
strategic relationships with many of the world’s leading technology
companies. Founded in 1972, InterDigital is listed on NASDAQ and is
included in the S&P MidCap 400® index.
Forward-Looking Statements
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 fourth quarter 2020
revenue. Words such as “expects,” “projects,” “forecasts,”
“anticipates,” 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, changes in our estimates of fourth
quarter 2020 sales by our per-unit licensees, delays in payments
from our licensees and related matters; (iii) amounts of royalties
payable following routine audits, if any, and the timely receipt of
such amounts during fourth quarter 2020; (iv) the timing, expenses,
and outcome of the company’s litigation and arbitration proceedings
and the timely receipt of any related awards; (v) new developments
in the company’s litigation or arbitration proceedings; (vi)
changes in our interpretations of, and assumptions and calculations
with respect to the impact on the company of, the Tax Reform Act,
as well as further guidance that may be issued regarding the Tax
Reform Act; and (vii) the potential effects that the ongoing
COVID-19 pandemic could have on our financial position, results of
operations and cash flows. 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:Tiziana
FiglioliaEmail: tiziana.figliolia@interdigital.com+1 (302)
300-1857
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