InterDigital Inc (IDCC)

[blueskywaves]

Yes, Microsoft went public on March 13, 1986 with 1985 sales of $140M and a net profit of $24M. By 1995 it had sales of $6B and a net profit of $1.45B. TTM sales is now more than $31B and TTM net profit is $9.6B!!!

Marvell is probably a more reasonable role model for IDCC down the line. Marvell is a fabless communications and storage chip vendor. Note the relationships between dilution and R&D, and between R&D and the torrid sales growth.

As of the last 10K, Marvell had 24.8M options exercisable at an average weighted price of $17.09 representing $424M in potential cash infusion for a company with $265M in cash/marketable securities and an annual capex budget of less than $25M. Market cap is $3.9B.
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 MARVELL (MRVL) 
 FY1999 to FY2003 
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  FY         O/S       R&D       Sales 
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 1999       32.5M   $  5.8M    $  21.3M 
 2000       81.5M     14.5M       81.4M 
 2001       66.3M     35.2M      143.9M 
 2002      114.4M     93.4M      288.8M 
 2003      119.2M    145.7M      505.3M 
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