InterDigital Announces First Quarter 2010 Financial Results

In the following pro forma summary consolidated statement of operations and throughout this press release, we refer to “pro forma net income.” The table below presents a reconciliation of this non-GAAP line item to net income, the most directly comparable GAAP financial measure. The following pro forma statements of financial results exclude the expense associated with the repositioning charge and the related tax benefit. The company has provided these pro forma figures here and elsewhere in this press release. Management regards the repositioning charge and related tax benefit as a non-recurring item not indicative of operating results for the period and believes that investors might share this viewpoint.

 

PRO FORMA SUMMARY CONSOLIDATED STATEMENT OF OPERATIONS

(dollars in thousands except per share data)
 
(unaudited)
   

For the Three Months Ended

March 31, 2010 March 31, 2009
Actual Actual   Adj.   Pro Forma
   
REVENUES $ 116,187   $ 70,561     -   $ 70,561  
 
OPERATING EXPENSES:
Selling, general and administrative 7,519 8,254 - 8,254
Patent administration and licensing 17,823 12,137 - 12,137
Development 16,164 26,870 - 26,870
Repositioning   -     37,063     (37,063 )   -  
  41,506     84,324     (37,063 )   47,261  
Income (loss) from operations 74,681 (13,763 ) 37,063 23,300
 
OTHER INCOME:
Interest and investment income, net   600     829     -     829  
 
Income (loss) before income taxes 75,281 (12,934 ) 37,063 24,129
 
INCOME TAX (PROVISION) BENEFIT   (26,454 )   4,248     (13,009 )   (8,761 )
 
NET INCOME (LOSS) $ 48,827   $ (8,686 ) $ 24,054   $ 15,368  
 
NET INCOME (LOSS) PER COMMON SHARE - BASIC $ 1.11   $ (0.20 ) $ 0.35  
 
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC   43,614     43,501     43,501  
 
NET INCOME (LOSS) PER COMMON SHARE - DILUTED $ 1.09   $ (0.20 ) $ 0.34  
 
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED   44,237     43,501     44,460  
 

« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »



Review Article Be the first to review this article
Aldec


Featured Video
Latest Blog Posts
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Functional Safety and Security in Embedded Systems
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
Phil Kaufman Award Goes on Hiatus for 2020
Colin WallsEmbedded Software
by Colin Walls
Why develop embedded software bottom up?
Jobs
ASIC Engineer for Amazon at seattle, Washington
Test Engineer for Marvell Semiconductor at Santa Clara, California
Principle Digital Design ASIC Manager for EDA Careers at RTP, North Carolina
IC Design Engineer - SoC Integration for Xilinx at San Jose, California
Product Line Manager for EDA Careers at Multiple, North Carolina
ASIC Design Integration Engineer for Apple Inc at Cupertino, California
Upcoming Events
Accellera Day India 2020 at Online Event India - Dec 2 - 3, 2020
RISC-V Summit 2020. at United States - Dec 7 - 10, 2020
SEMICON Japan 2020 Goes Virtual at Japan - Dec 11 - 18, 2020
IPC APEX EXPO 2021 at San Diego Convention Center san diego - Mar 6 - 11, 2021
TrueCircuits:



© 2020 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise