Each time in the past that this happened, I made money buying on days like today.
Best wishes for all longs and new investors.
I am back to strong buy at this price.
Basher, I agree that IDCC is a strong buy here, but I also think 2011 may be a tough year.
I'll say one thing for Merritt -- he doesn't panic and he is never in a hurry to get a license signed. LG should have been done in the summer of 2010 and it may not be concluded this year. Ditto Nokia. These deals may be done sometime in the next 12 to 15 months, but we had all better be prepared to hold on and hang tough because Merritt doesn't manage for quarter to quarter results.
Incidentally, that's why the dividend was only 10 cents per quarter, rather than the much higher figures some on this board were predicting.
I think the long term prospects for this company are very bright, but it's hard to put a positive spin on this mornings's conference call.
The conference call was very good. Forget the price, listen again without the emotion of what happened over the past three days of selling and really listen.
You'll be pleased with what you hear.
Probably early next week...
When those who care to read the Facts about IDCC...they will Buy...whether to invest longer term, for a trade, or to cover a short...
But, unlike today, there will be an absense of willing sellers...
Diluted EPS was $0.76 in the fourth quarter 2010, up 43% from pro forma diluted EPS in the fourth quarter 2009. The fourth quarter 2009 results exclude a $1.6 million repositioning charge and a $16.4 million tax benefit related to foreign tax credits.
Top line, we reported $95.3 million in revenues, a 25% increase year-over-year. Our revenue consists of three components, current patent royalties, past sales royalties and technology solutions revenue.
Current patent royalties were $85.1 million in the fourth quarter 2010, up $12.7 million or 17% over the fourth quarter 2009. Our per unit patent royalties accounted for $35.6 million or 42% of current patent royalties in the fourth quarter 2010 and increased by $11.1 million or 46% from fourth quarter 2009. This increase was driven by growth in customer smartphone product sales.