InterDigital Inc (IDCC)

[jai]

All in all I think the Conference call was excellent.

The LG question was handled about as good as WM could. Very clear and concise. Whether the analyst beleives that LG will reup that is another story. I like the explanation that a reup is easier then a new license.

Two things that make a good call for IDCC. One is congradulations comments and we had one or two. Another is the call ending with people still askong questions. That shows interest. We have had calls in the past where the operator was begging people to ask questions at the 35 minute mark. This time the last question got cut off by a bad connection then time ran out.

Carpenters soft balls were great also. He was basically stating that proper valuation today should be about $1.6 billion or 25% above the current cap. ($600 mil cash $1 bil in value of patents). I think the patent portfolio is double that but I'm no expert.

I also think they came prepared to justify then cash position. Not sure if Bill N agreed but it was much better then 2 quarters ago when he was cursing them out left and right. Basically they were stating they wanted some time. My hope is they start hiring some big house to help look for oportunities, and we get a I scratch your back you scratch my deal that brings in new coverage.

Lastly nobody was dwelling on Nokia. They got to talk about technology solution which is what they should be talking about. Carpenter asked about patents from the case which was answered clearly by WM.

Bottomline the sky did not fall and the .12 cent miss was irrelevant. Really good price action friday with a very bad market.