InterDigital, Inc. (NASDAQ:IDCC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.09%.
InterDigital, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 22.45% to $0.38 in the quarter versus EPS of $0.49 in the year-earlier quarter.
Revenue: Rose 14.22% to $87.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: InterDigital, Inc. reported adjusted EPS income of $0.38 per share. By that measure, the company beat the mean analyst estimate of $0.01. It beat the average revenue estimate of $61.17 million.
Quoting Management: “By all measures we delivered a stand-out year, characterized by meeting the objectives we’d discussed at the start of 2012,” commented William J. Merritt, President and CEO. “We began the year by expanding our strategy to include patent sales, and then successfully executed on that strategy, concluding transactions that drove an additional $384 million in revenue. In the fall of 2012, we announced another enhancement of our strategy and the formation of InterDigital Solutions, a new group with the goal of commercializing our technologies through key industry partnerships. We followed this up by announcing, at the very start of 2013, the first such partnership with Sony involving the exciting area of wireless machine-to-machine communications and services, where InterDigital has been a long-term innovator. All of that came on top of exceptionally strong performance from our core terminal unit licensing team, which launched our LTE licensing efforts with nine new, renewed or expanded patent license agreements—including agreements with Sony and Blackberry—all of which aligned with our long-term licensing strategy.”
Key Stats (on next page)…