olddog967 - thank you for the reply. Your explanation of how Yahoo arrived at the $1.14 is greatly appreciated and in doing so you have also posted that you think that this is a low estimate. You have also raised the bar by saying $1.34 is a reasonable estimate and your note is noted. "Note: The one good thing about a low average estimate is that it should be easy to beat, and allows for a nice headline when earnings are reported."
SO - back to my initial question. IDCC stated revenues would be 130 to 135M. Lets use an average of 132.5M at a tax rate of 35% leaves 86.125M minus expenses of 60M leaves 26.125M or .72 per share. To hit the forecasted earnings of $1.34 we need 48.5M in net income.
Excuse my ignorance this morning yet what am I missing - other than 20+/-M?
Thank you.
And I still think the convertible bonds are the short haven.
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