InterDigital Inc (IDCC)

[FISH21049]

INTERDIGITAL RAISES Q1 REVENUE GUIDANCE, LOWERS EXPENSE ESTIMATES
Substantial Base of Fixed Price Contracts Provides Significant Revenue Stability
Company Release - 3/26/2020 8:30 AM ET
WILMINGTON, Del., March 26, 2020 (GLOBE NEWSWIRE) --

InterDigital, Inc. (NASDAQ:IDCC), a mobile and video technology research and development company, today announced an increase to its revenue guidance and a lowering of expense estimates for first quarter 2020. The changes reflect the impact of two new license agreements to its respective portfolios of mobile and video technologies.

The company increased the top end of the range for its expected first quarter 2020 revenue, with a new range of $73 million to $76 million that includes less than $1 million in past sales revenue. The prior range was $73 million to $75 million. In addition, the company noted that it expects first quarter operating expenses to be in the range of $69 million to $73 million, down $4-8 million sequentially from Q4 2019. Previously, the company had guided operating expenses to be in the range of $71 million to $74 million.

William Merritt, President and CEO, noted: “With a strong balance sheet and nearly 90% of our revenue coming from fixed fee agreements that are not sensitive to our customer’s volumes, we are in a strong position to weather the current macro-economic environment and maintain our focus on continuing licensing discussions to drive top line growth.”