InterDigital Inc (IDCC)

[FISH21049]

InterDigital Announces Financial Results for Second Quarter 2017
18% Year-Over-Year Increase in Recurring Revenue, Expenses Relatively Flat
WILMINGTON, Del., July 27, 2017 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research and development company, today announced results for the second quarter ended June 30, 2017.
Second Quarter 2017 Financial Highlights
-- Second quarter 2017 total revenue was $135.8 million, compared to $75.9
million in second quarter 2016. The increase in total revenue includes
past patent royalties related to a settlement agreement and release of
claims with Microsoft during second quarter 2017.

-- Recurring revenue grew 18% to $87.9 million, compared to $74.6 million in
2016, primarily driven by an increase in fixed-fee revenue due to new
agreements entered into in second half 2016. Recurring revenue consists
of current patent royalties and current technology solutions revenue.

-- Second quarter 2017 operating expenses were $54.8 million, compared to
$52.8 million in second quarter 2016. The slight increase in operating
expenses was driven by the operations of Hillcrest Labs, acquired during
fourth quarter 2016.