InterDigital forecasts strong 4Q revenue
WILMINGTON, Del. (AP) — InterDigital Inc. said Monday that it expects patent royalties and strong sales by licensees in Japan to boost its fourth-quarter revenue.
The company, based in Wilmington, Del., licenses patents on wireless technology.
InterDigital said that it expects revenue between $62 million and $64 million. Analysts polled by FactSet had forecast revenue of $59 million.
The company said about $61 million of the fourth-quarter revenue is this is expected from current patent royalties. If these current patent royalties hold true, this would represent a 6 percent increase over the same measure from its third quarter.
Interdigital said its actual results will depend, in part, on the timing of the resolution of an audit with an existing licensee and the receipt of an additional royalty report covering past sales.
Shares of the company increased 53 cents, or 1.3 percent, to $41.71 in afternoon trading.