InterDigital Announces Financial Results for First Quarter 2016

 
SUMMARY CONSOLIDATED STATEMENTS OF OPERATIONS
(dollars in thousands except per share data)
(unaudited)
  
  For the Three Months 
Ended March 31,
  2016  2015
REVENUES:   
Per-unit royalty revenue$73,689  $75,583 
Fixed fee amortized royalty revenue29,098  33,373 
Current patent royalties102,787  108,956 
Past patent royalties4,167  17 
Total patent licensing royalties106,954  108,973 
Current technology solutions revenue810  1,405 
 $107,764  $110,378 
    
OPERATING EXPENSES:   
Patent administration and licensing27,167  31,625 
Development20,269  17,991 
Selling, general and administrative11,972  9,518 
 59,408  59,134 
    
Income from operations48,356  51,244 
    
OTHER EXPENSE (NET)(7,137) (5,236)
Income before income taxes41,219  46,008 
INCOME TAX (PROVISION)(14,068) (17,676)
NET INCOME$27,151  $28,332 
Net loss attributable to noncontrolling interest(920) (733)
NET INCOME ATTRIBUTABLE TO INTERDIGITAL, INC.$28,071  $29,065 
NET INCOME PER COMMON SHARE — BASIC$0.80  $0.79 
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — BASIC35,045  36,954 
NET INCOME PER COMMON SHARE — DILUTED$0.79  $0.78 
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — DILUTED35,377  37,329 
CASH DIVIDENDS DECLARED PER COMMON SHARE$0.20  $0.20 
        


 
SUMMARY CONSOLIDATED CASH FLOWS
(dollars in thousands)
(unaudited)
  
  For the Three Months 
Ended March 31,
  2016  2015
Income before income taxes$41,219  $46,008  
Taxes paid (14,423 )   (12,714 )
Non-cash expenses 25,385     18,259  
Increase in deferred revenue 80,440     72,503  
Deferred revenue recognized (34,594 )   (44,157 )
Increase (decrease) in operating working capital, deferred charges and other (81,794 )   (78,128 )
Capital spending and capitalized patent costs (9,656 )   (9,265 )
FREE CASH FLOW 6,577     (7,494 )
       
Tax benefit from share-based compensation     1,539  
Payments on long-term debt (230,000 )    
Acquisition of patents (4,500 )   (20,000 )
Proceeds from noncontrolling interests     1,275  
Dividends paid (7,068 )   (7,433 )
Share repurchases (40,399 )   (50,731 )
Proceeds from issuance of senior convertible notes     316,000  
Purchase of convertible bond hedge     (59,376 )
Proceeds from issuance of warrants     42,881  
Payment of debt issuance costs     (9,403 )
Unrealized gain (loss) on short-term investments 376     (5 )
NET (DECREASE) INCREASE IN CASH AND SHORT-TERM INVESTMENTS $ (275,014 )   $ 207,253  
               






Review Article Be the first to review this article
Featured Video
Latest Blog Posts
Alex Carrick, Chief Economist at ConstructConnectThe AEC Lens
by Alex Carrick, Chief Economist at ConstructConnect
Latest U.S. and Canadian Housing Starts in 10 Graphs
Jobs
Senior Highway Engineer for RS&H at Jacksonville, Florida
Service Software Expert-CATIA & CAA for Dassault Systemes at Shanghai, China
Engineer IV for State of Nebraska at Lincoln, California
Engineer III - Hydraulics for State of Nebraska at Lincoln, California
GPS and Mobile GIS Sales Development for Duncan-Parnell Inc. at Charlotte, North Carolina
Mechanical Engineer for Deeter Foundry at Lincoln, Nebraska
Upcoming Events
ProjectWise User Conference 2021 (Virtual) at 685 Stockton Drive Floor 2 Exton PA - Jul 13 - 16, 2021
ICSD 2021 : 9th International Conference on Sustainable Development, 8 - 9 September Rome, Italy at Roma Eventi, Pontifical Gregorian University Piazza della Pilotta, 4 Rome Rome Italy - Sep 8 - 9, 2021
Urban Planning & Architectural Design for Sustainable Development – 6th Edition at University of Florence Florence Italy - Sep 14 - 16, 2021
NIBS Building Innovation 2021: Virtual Edition. at United States - Sep 27 - 29, 2021



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise