Revlis wireless

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InterDigital Announces Financial Results for First Quarter 2017

https://finance.yahoo.com/news/interdigital-announces-financial-results-first-123000522.html

"First quarter 2017 total revenue was $94.5 million, compared to $107.8 million in first quarter 2016. The decrease was primarily attributable to the elimination of seasonality related to Apple shipments as a result of the fixed-fee agreement signed in fourth quarter 2016. That seasonality, driven by new product launches, had previously resulted in higher per-unit revenue in first quarter. The decrease in first quarter total revenue was partially offset by revenue from our fixed-fee agreement with Huawei, signed in third quarter 2016.
First quarter 2017 operating expenses of $60.6 million were relatively flat compared to $59.4 million in first quarter 2016.
Net income1 was $33.8 million, or $0.93 per diluted share, compared to $28.1 million, or $0.79 per diluted share, in first quarter 2016. This increase was driven by a discrete first quarter 2017 tax benefit associated with vesting of stock-based compensation.
In first quarter 2017, the company recorded $25.9 million of cash used by operating activities, compared to cash generated of $19.6 million in first quarter 2016. The company used $33.9 million and generated $10.0 million of free cash flow2 in first quarter 2017 and first quarter 2016, respectively. These decreases in cash generated were primarily due to the timing of cash receipts under new fixed-fee agreements. Ending cash and short-term investments totaled $886.1 million."