KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--InterDigital, Inc. (NASDAQ: IDCC - News) today updated financial guidance for first quarter 2010. Previously, InterDigital® expected first quarter 2010 revenue to be in the range of approximately $78 million to $79 million, excluding the impact of any new agreements signed during first quarter 2010 or the potential impact of any additional royalties identified in audits regularly conducted by the company. InterDigital recently announced a new license agreement and an audit resolution. The company expects that the new agreement and audit resolution will add approximately $37.5 million to $38.5 million, substantially related to past sales, to total first quarter 2010 revenue.
“First quarter 2010 reflects our continued ability to add new licensees for our broad 3G portfolio and a solid recovery in handset sales,” commented Scott McQuilkin, InterDigital’s Chief Financial Officer. “We saw marked improvement in sales by our per-unit licensees with exposure to smartphone sales and an improvement in the Japanese market.”
