InterDigital Inc (IDCC)

[rmarchma]

Wilco re possible good quarter and guidance

I don't really expect IDCC to provide positive guidance for a particular quarter prior to earnings release. They pretty much admit to not having any additional insights for a given quarter, until after they receive the quarterly sales reports from the licensees. I would imagine that most licensees have up to at least one month after the end of a quarter to get their sales reports into IDCC. This gets real close to the 45 day period to release the quarterly earnings reports, except for the last quarter of the year.

However it would seem to me that if Fagan really had a lot on the ball, he would be in contact with his financial cohorts at IDCC's major licensees to obtain informal monthly royalty-bearing sales data. Surely the major licensees track this information internally on a monthly basis. I don't know for sure whether Fagan does or has tried to do this or not. Just based on some of his comments in the CC, it doesn't appear that he makes contact with the licensees during the quarter.