InterDigital Inc (IDCC)

[blueskywaves]

Now you have net earnings after tax of $170 million, which may be about $3.00 net earnings per share.

What about operating expenses, Mickey?

R&D accounts for nearly 60% of IDCC's annual expenses. If you're anti-dilution for anti-dilution's sake then you probably don't want R&D to increase.

From the most recent 10Q:

 
 1Q2003 
 . 
 Sales & Marketing          $ 1.2M     6% 
 General & Administrative     4.1M    21%                
 Patent Administration        3.1M    16% 
 Research & Development      11.4M    57% 
 . 
 Total Operating Expenses   $19.9M   100% 
 

2002 Total Operating expenses ($78.7M) per share was around $1.41 per share @O/S of 56M shares.

 
 FY2002 
 . 
 Sales & Marketing          $ 4.3M    5% 
 General & Administrative    14.5M   18% 
 Patent Administration       13.2M   17% 
 Research & Development      46.7M   59% 
 . 
 Total Operating Expenses   $78.7M  100%