InterDigital Update Guidance for Fourth Quarter 2020

WILMINGTON, Del., Jan. 28, 2021 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today provided revenue guidance for fourth quarter 2020.

The company expects total fourth quarter 2020 revenue to be between $87 million and $90 million, which includes between $85 million and $88 million of recurring revenue.

The company also expects that in the fourth quarter 2020 it will recognize one-time charges of approximately $10-11 million, primarily related to on-going patent portfolio management. The one-time charges are expected to bring the sequential increase in operating expenses to approximately $15 million. The company had previously stated an expected increase of $5 million operating expenses over third quarter levels, primarily driven by litigation activities.

About InterDigital^®

InterDigital develops mobile and video 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, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology 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 the company’s current expectations with respect to fourth quarter 2020 revenue. Words such as “expects,” “projects,” “forecasts,” “anticipates,” 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, changes in our estimates of fourth quarter 2020 sales by our per-unit licensees, delays in payments from our licensees and related matters; (iii) amounts of royalties payable following routine audits, if any, and the timely receipt of such amounts during fourth quarter 2020; (iv) the timing, expenses, and outcome of the company’s litigation and arbitration proceedings and the timely receipt of any related awards; (v) new developments in the company’s litigation or arbitration proceedings; (vi) changes in our interpretations of, and assumptions and calculations with respect to the impact on the company of, the Tax Reform Act, as well as further guidance that may be issued regarding the Tax Reform Act; and (vii) the potential effects that the ongoing COVID-19 pandemic could have on our financial position, results of operations and cash flows. 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.

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InterDigital Contact:

Tiziana Figliolia

Email: 

+1 (302) 300-1857