InterDigital Inc (IDCC): As a simple math exercise I compared the...

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dndodd

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Wednesday, 10/01/2014 10:35:43 AM

Wednesday, October 01, 2014 10:35:43 AM

As a simple math exercise I compared the 1st Qtr 2009 IDCC balance sheet with the 2nd QTR 2014 balance sheet using overall dollars and converting the numbers into a per share basis.

Why the 2009? because it is probably the worst qtr in recent market history and we are uneasy about the current market situation. At least I am.

Bottom line on a per share basis TOTAL LIABILITIES AND SHAREHOLDERS EQUITY has gone from $15.18/share in 1st QTR 2009 to $35.74/share in 2nd QTR 2014.

These numbers do not reflect the additional $200M coming in the 3rd QTR from Samsung or any additional buybacks after the end of the 2nd QTR.

In the 1st QTR of 2009 the stock low was $19.61 and the high was $30.92.

In the 2nd qtr of 2014 the respective numbers are $32.29 and $48.64.

The company's recent buybacks that they announced have been in the $43 area.

"The Investors's Chief Problem--and even his worst enemy--is likely to be himself"
---Benjamin Graham