InterDigital 4th-Qtr Net Falls 92% on Lower Licensing Revenue
King of Prussia, Pennsylvania, Feb. 11 (Bloomberg) -- InterDigital Communications Corp., which
makes chips for delivering fast Internet access to cellular phones, said fourth- quarter profit fell 92
percent because licensing revenue declined.
The company's shares fell as much as 23 percent.
Net income fell to $1.36 million, or 2 cents a share, from $17.6 million, or 36 cents, in the year-earlier
period. Revenue decreased 67 percent to $12.4 million from $37.9 million.
InterDigital attributed the revenue decline to a strong year- earlier quarter, when the King of Prussia,
Pennsylvania-based company received up-front payments from three new patent license agreements.
InterDigital's shares fell 7 to 39 1/2 in midmorning trading, and earlier touched 36. Before today, the
stock had risen almost eightfold in the past year amid optimism about an increase in cellular-phone use.
Feb/11/2000 10:19
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