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I am wondering where the 975K shares came from???
Tee hee....the ghost of mickey....has returned ...to wreak vengeance....on an innocent sinner ...from Merrill lynch ...where's Onceinalifetime when you need her....all we ever wanted was "some respect"
Just one pin Rodney?!!!
Someone please pass the barbecue sauce. The shorts are done. B of A analyst is the main course.
Wow we hit $81 oreenos and then a slight pullback before the market closed.
IMO that makes sense to me especially they mentioned in the call that the to be appointed board member has broad video experience. May be they envision a large potential there and the market has not realized that value yet.
Orientbull - I may be completely incorrect but the standards setting industry has been working on a new video standard for some time now. IDCC's video compression tech is aligned with the current version of that standard (MO). Those are the licenses that will signed next. The time must be soon to adopt that standard. To me, this is the motivation to pursue the buy back. JMHO
" IDCC is a screaming Buy" In memory of Micky Britt
Thank you $80. Is $81 out there.
Hey shorty are you enjoying the short roast. Try the short ribs, they are excellent.
Thank you for the Oreeno!!!
I love you guys!
We still have another quarter!! Stay Positive!!
Minnow.
I am still puzzled by the urgency to accelerate buyback...IMO
IMO,,not too many retail investors here anymore. most have moved on..
just printed 80, so my take , I know this company a long time, like many here , looking at 1.7 b in back log per the 10Q, its time they ramp up a bigger dividend--
I bought apple 2006 , yr before Jobs , iphoned the world---not many held apple through the 90's---and most of 2000's, very difficult--we are not an apple, but we are a 4x or more from here , growth will prove it
I SEE A SMILE ON THE CLOUDS THAT RANGER IS RIDING ! ! !
BOY, I MISS YOUR POSTS RANGER. GOD BLESS.
Damn, I put in a sell for 100 shares at $79.95 just for the hell of it. I didn’t think it would go, but it just did.
Just Checked
No ML report has been issued since 2/15/23
they mentioned 600ml in reoccuring rev, is that fy2023 or 24, hoping for the 800mil range---so we are selling PE wise x out the catch ups--at a pretty low 20's?----for this growth we should get a 30x or more --if our Ai, iOt gets traction , the herd should run on it and so 100x PE
Maybe we can add to the short pain by putting our shares up for sale at $100, good until cancelled.
If they keep it up I might even throw them a couple shares.
Yes, faster and faster. I am certainly enjoying this race right now.
Looks like weve got the shorts on the run
Bank of America should reconsider their coverage for IDCC. Maybe they should just drop coverage or upgrade to a strong buy with a target price that would make Mickey Britt proud! JMHO
Prior to yesterday's earnings release I was still pondering the real intentions of the stock buy back. First, I thought it was in preparation for a company buyout, then after almost 30 years in this stock, it probably would have happened by now so its not likely to happen in the future. Second thought was to take the company private but with the high institutional ownership, I do not think this is a likely scenario. Third and foremost is the company is planning to buy down the outstanding shares to a desired amount, then stop the buy back, and then focus more on dividend payout to shareholders making this stock more attractive as a dividend stock. This third scenario seems to be more supported by orientbull's post about his takeaways from yesterday's earnings call.
3) commitment to accelerate buyback and dividends due to licensing momentum
Orientbull post
4 days ago....im sure there were many folks who were lamenting not having sold some or all into the tender offer....and that idc would return to its malaise in the clutches of the shorts......here is your opportunity!!!
Ooh..ooh
..he must feel so hurt...let's all take a knee to acknowledge his pain....and then do the twist ..and it goes like this....and around around we go again...up and down we go again!!!
teecee56, yes the B of A analyst did ask a few questions. He was almost crying that you did not tell me. They said we released the information. But you did not tell me....
Vegas....and so here we are...let the fun begin!!!!
So am I to think...folks is getting the point...after they talked it over??
couple of points from the call this morning:
1) high court hearing this week regarding interest, cost and permission to appeal. Waiting for decision to take the next step.
2) fast track oppo in UK court and the court is currently focusing on payment amounts.
3) commitment to accelerate buyback and dividends due to licensing momentum
4) the new board member with his previous experience at Tivo and Experi, if elected, will help penetration to the video area.
5) Cash balance $950 as of March31. Expect additional 1.4 billion cash receipts under the current agreements.
6) expect strong 2Q quarter. will continue to purchase shares with remaining 177m
They didn’t do this before
They
Have always been super conservative
And only recognized when contract signed cash in bank
wow....just tuned in....did the b of a analyst say something on the call?....all i know is....idc has had many opportunities to "jump the gun" on earnings in the past....and theyve never taken the bait....im pretty confident that if they reported it....its a done deal...it makes no sense to go out on the limb....they have accountants and lawyers that have to sign off on this kind of stuff...their behavior with the tender offer....probably could have predicted something like this.....full steam ahead!!!!
yep, accounting smoke and mirrors
They can recognize revenue if certain conditions are met. It takes delivery of the product ( in this case companies using the patents). Collection must be reasonably assured. The revenue can reasonably be measured ( I believe they stated at least for Samsung they were using a conservative number. I assume they believe Lenovo will pay at least the judgment amount.
I think it more accurately shows the revenue matching to periods than getting lump sums for past sales and recognizing it then (which in those cases, it was when it was reasonably assured).
accounting smoke and mirrors
How did they book revenue without finality for those two cases?
The BOA "Analyst / Short" should short his own employer!
Tomcat
From the conference call
1. they won't take calls from shareholders
2. They are not yet receiving any cash from Lenova and Samsung
Bank of America analyst is crying....
scooby5, the first 12,000 shares the ask did not fall below $70.5. It was the market maker filling in. He probably is looking to pick up some cheaper shares. If the company continues to buy back $25M of shares on the open market per month he is going to need them.
How can we possibly be trading in the $67.00 range?
probably in the deferred revenue , or backlog since we are collecting royalties---no products
IDCC still has $40M to recognize from the Lenovo decision, More if the appeal is successful, They bought about 340,000 shares in April and have about $175M + left in the buyback. Lookout shorts. They made about $13 M in interest.
Board goes quiet on a 3.58 profit qtr
note the balance sheet 378mil in revenue current and long term differed revenue ,
InterDigital Announces Financial Results for First Quarter 2023
Company Release - 5/4/2023
Samsung arbitration agreement and Lenovo judgment drive total revenue to over $200 million; record return of capital to shareholders
WILMINGTON, Del., May 04, 2023 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, today announced results for the quarter ended March 31, 2023.
"In the first quarter, we continued to make strong progress in executing against our long-term goals,” commented Liren Chen, President and CEO, InterDigital. “The recent Lenovo judgment, along with our Samsung arbitration agreement and the 2022 Apple renewal, drove exceptional financial results in first quarter 2023 and provide a strong recurring revenue base well into the future."
First Quarter 2023 Financial Highlights, as compared to First Quarter 2022:
GAAP
Total revenue was $202.4 million and increased 100%. The increase was driven by the recent Lenovo judgment.
Recurring revenue was $101.6 million and increased 2%.
Operating expenses were $83.1 million and increased 17%. The increase was driven by $8.2 million of one-time items.
Net income1 was $105.3 million and increased 485%.
Diluted earnings per share was $3.58 and increased 517%.
The company completed its modified Dutch auction tender offer in which it repurchased 2.7 million shares, for an aggregate cost of $199.9 million, excluding fees, expenses and excise tax. The company repurchased $24.7 million, or 0.3 million shares, during the period April 1, 2023 through April 30, 2023.
Non-GAAP
Adjusted EBITDA2 was $154.8 million and increased 179%.
Adjusted EBITDA margin2 was 76% up from 55%.
Non-GAAP net income3 was $123.6 million and increased 301%.
Non-GAAP diluted earnings per share3 was $4.21 and increased 325%.
Near Term Outlook
The table below presents guidance of the Company's expectations for second quarter 2023. The revenue range covers both existing licenses and license agreements that we currently expect to be executed in second quarter 2023.
Q2 2023
Revenue $100M - $104M
Operating expenses $78M - $81M
Net income 1 $16.4M - $19.1M
Adjusted EBITDA 2 $50.2M- $52.9M
Diluted earnings per share $0.60 - $0.70
Non-GAAP diluted earnings per share 3 $1.19 - $1.29
Weighted-average diluted shares (a) 27.3M
(a) Based on share repurchases through April 30, 2023, excluding any additional repurchases that may occur during the remainder of second quarter 2023.
Conference Call Information
InterDigital will host a conference call on Thursday, May 4, 2023 at 10:00 a.m. ET to discuss its first quarter 2023 financial performance and other company matters.
For a live Internet webcast of the conference call, visit www.interdigital.com and click on the “Webcast” link on the Investors page. The company encourages participants to take advantage of the Internet option.
For telephone access to the conference call, visit www.interdigital.com and click on the “Dial In Registration” link on the Investors page. Registration is necessary to obtain a dial in phone number and PIN to join.
An Internet replay of the conference call will be available on InterDigital’s website under Events in the Investors section. The replay will be available for one year.
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