InterDigital Inc (IDCC)

[Red Angus]

jtaylor--To think of IDCC’s $253 million judgment against Nokia as isolated from the company’s revenue stream and to it only as an isolated disconnected non-recurring judgment is IMO erroneous.

The ICC and the SD of NY did not feel IDCC was entitled to such a huge award based on the color of WM’s eyes. These august bodies felt that the monies had been EARNED under the applicable provisions of the PLA.

In fact, in the past IDCC continually took hits because of its extremely high PE prior to final payment of the judgment. The royalty payments IDCC defenders continually argued were “earned” were totally discounted by the Street because “they weren’t earned until paid”. To now discount those same earned monies a second time---after payment---is to unfairly saddle IDCC with the worst of both worlds. They basically never get counted in the company's revenue stream by some people because (a) they weren't "earned" until paid, and (b) after payment they're just a one-time non-recurring judgment.

Maybe some analysts today are taking a second looke at IDCC and see the quarter billion payment received by IDCC as a part of the company’s duly-earned continuing revenue stream, and not some unconnected happening that had nothing to do with a history of the company’s earnings.

Just thoughts..........