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WiLAN Reports Second Quarter 2014 Financial Results

Company reports third straight quarter of adjusted earnings exceeding $16 million

, CANADA--(Marketwired - Jul 30, 2014) - Wi-LAN Inc. ("WiLAN" or the "Company") (WIN.TO)(WILN) today announced financial results for the second quarter of fiscal year 2014 ended June 30, 2014. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.

Second Quarter 2014 Highlights
•Revenues of $25.7 million, exceeding guidance of $19.4 million by 32%.
•Adjusted earnings* of $16.6 million, or 14 cents per basic share, exceeding guidance of between $9.4 million and $10.5 million by nearly 60%.
•GAAP earnings of $5.6 million or 5 cents per basic share.
•Announced 25% increase to quarterly dividend.
•Signed license agreements for wireless technology with Nokia Networks and Archos S.A.
•Entered license agreement with Sony Corporation related to television technology.
•Secured license agreements for network management technology with two U.S. wireless carriers.
•Signed significant partnership with industry leading memory company.
•Diversified business with licensing partnerships in the automotive, data networking, irrigation and medical technology markets.
•U.S. Patent Office and U.S. District Court confirm validity of WiLAN's 802 patent, which was at issue in the Apple case.
•Returned $4.3 million to shareholders in dividend payments.

"In the second quarter, we made significant progress in our ongoing efforts to increase the profitability and diversification of our business," said Jim Skippen, President & CEO. "Strong revenues, driven in part by signed license agreements with Nokia Networks and Sony, and the control of litigation expenses, contributed to the third straight quarter of positive GAAP earnings and adjusted earnings exceeding 55 percent of revenue."

Added Skippen, "Licensing partnerships signed recently have established WiLAN in many new markets including the automotive, data networking, medical and semiconductor markets. In particular, we are very excited about the quality and value of a patent portfolio that a WiLAN subsidiary acquired from an industry leading memory company in the second quarter. We are very pleased that the U.S. Patent Office, after conducting reexam proceedings at the urging of certain defendants in our cases, has confirmed the validity of WiLAN's 802 patent. The 802 patent was filed by the founders of WiLAN and has been licensed to many parties."

Eligible Dividend

The Board of Directors has declared an eligible dividend of CDN $0.05 per common share to be paid on October 3, 2014 to shareholders of record on September 12, 2014.

Full release: http://finance.yahoo.com/news/wilan-reports-second-quarter-2014-103000809.html