InterDigital Issues Guidance for Third Quarter 2019
October 02 2019 - 8:00AM
InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology
research and development company, today provided revenue guidance
for third quarter 2019.
The company expects total third quarter 2019 revenue to be
between $71 million and $74 million, which includes less than $1
million in non-recurring revenue.
The company expects its third quarter 2019 operating expenses to
be roughly $10 million higher than second quarter 2019, with
sequential increases of nearly $4 million in each of litigation and
recurring expenses associated with the acquisition of the
Technicolor R&I team. The remaining increase was driven
by non-recurring integration costs.
The company expects to record approximately $11 million in total
interest expense and accretion of debt discounts, representing a $1
million increase over second quarter levels. This increase
was driven by the company’s June 2019 issuance of new 2024
convertible debt and partly offset by the partial repurchase of its
2020 convertible debt.
The company expects to record a one-time net gain of $5-7
million, resulting from the third quarter sale of the Hillcrest
product business, which is expected to be partly offset by a
partial impairment of a long-term investment.
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 third quarter 2019
revenue. Words such as "expects," "projects," "forecast,"
“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 third
quarter 2019 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 third quarter 2019; (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 and (vi) our
expenses from the acquisition of the Technicolor R&I Team. 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 WilleEmail:
patrick.vandewille@interdigital.com +1 (858) 210-4814 |
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