InterDigital Inc (IDCC)

[jai]

Just finished reading the 2003 annual report. Quite a different report from last year. Don't want to get too historical but after the Ericsson settlement IDCC figured it had Nokia dead. They published what Nokia and Samsung owed in the 2002 annual report. I think they underestimated Nokia's resolve in not wanting to pay.

This years read removes any reference to Nokia or Samsung money. New Year, New Page. The story has changed for the better. The focus is on growth in client base and current revenue stream instead of watershed events. Wall Street was burned twice by the Nokia story. First in July of last year and most recently March. Both caused eventual 10+ point haricuts or 40% of the market cap. It was time to give the "Nokia is comming" cries a rest. I'm extremely happy that IDCC has decided to downplay Nokia and focus on current and future licenses. Something that they can control and project.

I think they finally understand how the game is played. Extremely positive development with MASSACHUSETTS FINANCIAL SERVICES buying 2.4 million shares. They convinced an institutional investor to take a large position in fact the second largest position of all institutions. This was a major step in the right direction.