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Technology Stocks : Interdigital Communication(IDCC)

IDCC 380.57

+2.3%

12:59 PM EDT

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To: slacker711 who wrote (5165)	1/23/2012 4:31:34 PM
From: slacker711	of 5195

InterDigital Announces Preliminary and Unaudited Fourth Quarter 2011 Financial Results Press Release: InterDigital, Inc. – 4 minutes 48 seconds ago IDCC 44.45 -1.52 KING OF PRUSSIA, Pa.--(BUSINESS WIRE)-- InterDigital, Inc. (NASDAQ: IDCC - News) today announced preliminary and unaudited results for the fourth quarter ended December 31, 2011. Revenue in fourth quarter 2011 is expected to be $74.2 million. Expected revenue consists of current royalties of $71.8 million, no past sales and $2.4 million from technology solutions. Fourth quarter 2011 operating expenses are expected to be $41.5 million, including $10.5 million of intellectual property enforcement and non-patent litigation costs and a $4.6 million adjustment to reduce long-term compensation accrued prior to the period. This adjustment relates to a fourth quarter reduction in the accrual rates for two of our performance cycles from 100 percent to 50 percent resulting from the impact of our strategic alternatives review process on the timing of license agreements. The Company expects to report other expense in fourth quarter 2011 of $2.7 million and a $9.1 million tax provision representing a 30 percent effective rate. The expected tax provision includes a benefit of $1.5 million related to after tax interest income associated with a tax refund. Net income is expected to be $21.0 million, or $0.46 per diluted share. The Company expects to report approximately $678 million of cash and short-term investments as of December 31, 2011. The financial results set forth above are preliminary, unaudited and subject to completion. As a result, these preliminary results may differ from the results that will be reported in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2011.

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