WILMINGTON, Del., Sept. 05, 2018 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research and development company, today provided revenue guidance for third quarter 2018.
The company expects total third quarter 2018 revenue to be between $71 million and $75 million. This range, which is comprised almost entirely of recurring revenue, includes a small revenue contribution attributable to InterDigital’s recently completed acquisition of the Technicolor patent licensing business.
Under the accounting rules in effect prior to the company’s adoption of ASC 606, the company’s expected third quarter 2018 total revenue range would have been between $89 million and $91 million, comprised almost entirely of recurring revenue. The company is providing this information under the previous revenue recognition rules solely in the interest of comparability during the transition year to ASC 606, and it should be considered in addition to, and not as a substitute for, nor superior to or in isolation from, the financial guidance prepared in accordance with ASC 606.
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 third quarter 2018.
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.
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 2018 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 2018 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 2018; (iv) the timing and outcome of the company's litigation and arbitration proceedings and the payment of any related awards; and (v) new developments in the company’s litigation or arbitration proceedings. 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.
Patrick Van de Wille
+1 (858) 210-4814