WILMINGTON, Del., May 28, 2019 (GLOBE NEWSWIRE) -- InterDigital, Inc. (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.
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 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.
Patrick Van de Wille
+1 (858) 210-4814
Source: InterDigital, Inc.