InterDigital, Inc.
IDCC, a wireless research and development company, today announced
that it expects its total third quarter 2013 revenue to be between $55 million
and $56 million. The revenue guidance for third quarter 2013 includes $43
million to $44 million of current revenue, as well as approximately $12
million of past sales revenue, primarily relating to past sales by Pegatron of
certain products between July 1, 2012 and March 31, 2013, the royalties for
which were covered by an arbitration award announced at the end of April.
The company further announced that it had received an award in an arbitration
involving royalties due under one of its technology solutions agreements. The
panel determined that InterDigital was entitled to the royalties sought by the
company under the arbitration at the rates specified in the technology license
agreement. The licensee under the agreement had paid the disputed amounts
under protest and, as of June 30, 2013, the total deferred revenue balance was
approximately $52.6 million as reported in the company's quarterly report on
Form 10-Q for the period ended June 30, 2013. The company is reviewing the
award and working through the related revenue recognition with its independent
auditors.
The revenue guidance includes recognition of revenue for royalty reports
received to date, but does not include the potential impact of any new patent
license, technology solutions or patent sale agreements that may be signed, or
any amounts related to the most recent arbitration decision discussed above or
to any other arbitration or dispute resolutions that may occur, during the
balance of third quarter 2013.
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