InterDigital Issues Guidance For Second Quarter 2019
May 28 2019 - 8:30AM
InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research and
development company, today provided revenue guidance for second
quarter 2019.
The company expects total second quarter 2019 revenue to be
between $73 million and $77 million, which includes less than $1
million in past sales. This revenue guidance does not include
the potential impact of any 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 second quarter 2019.
As previously announced, the company expects to close the
pending acquisition of Technicolor’s R&I team at the end of
this month. The company expects its second quarter 2019
operating expenses to be approximately $3 million to $5 million
above first quarter 2019, with the increase being driven entirely
by one-time integration costs and recurring expenses associated
with the acquisition of the R&I team.
Furthermore, the company estimates that it will recognize a
one-time non-operating gain between $5 million and $10 million
associated with this transaction during second quarter 2019.
All of the above expectations surrounding the pending
acquisition are based on estimates and preliminary accounting
conclusions.
About InterDigital®
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.
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 second 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 second
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 second quarter 2019; (iv) the timing 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 Wille
Email: patrick.vandewille@interdigital.com +1 (858)
210-4814
Source: InterDigital, Inc.
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