WILMINGTON, Del., Dec. 28, 2015 (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 2015 revenue to be between $107 million and $111 million. The company expects the revenue to be comprised of recurring revenue of between $92 million and $94 million and past sales of between $15 million and $17 million. The updated total range includes, among other things, the expected impact of a new patent license agreement signed during the quarter and the collection of outstanding payments from a prior technology solutions customer.
These updated 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 2015.
About InterDigital®
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.
Forward-Looking Statements
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 our current expectations with respect to the company's fourth quarter 2015 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 2015; (iv) the impact of final accounting treatment; and (v) the timing and outcome of the company's litigation and arbitration proceedings and the payment of any related awards. 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.