WILMINGTON, Del., Dec. 04, 2017 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research and development company, today announced that it has updated its expectations for total fourth quarter 2017 revenue to be between $180 million and $210 million, including recurring revenue in the range of $90 million to $97 million. Total revenue guidance for the period includes non-recurring revenue attributable to the expected recognition of the remaining portion of the non-refundable prepaid balance on a patent license agreement scheduled to expire at the end of 2017.
These updated revenue expectations are based on preliminary accounting results that are subject to review and finalization. In addition, this revenue guidance is based primarily on royalty reports received and license agreements signed to date, and 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 fourth quarter 2017.
InterDigital develops technologies that are at the core of mobile 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 fourth quarter 2017 revenue. Words such as "expects," "projects," "forecast," 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 and timely receipt and final reviews of quarterly royalty reports from the company's licensees and related matters; (iii) amounts of royalties payable following routine audits, if any, and the timely receipt of such amounts during fourth quarter 2017; (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) 210-481