Quarterhill Inc (QTRHF)

[jtdiii]

More from Barry Richards of Paradigm Capital.a compelling comparison...
As Barry Richards' report points out.....WiLAN's peer group P/E multiples for 2012 are as follows:
Mosaid............. 11.5x
Qualcomm........ 16.9x
Interdigital....... 14.3x
RPX.................. 35.7x
Acacia.............. 20.8x
Average......... 19.8x

FYI/FWIW/JMHO....

P/E based on today's closing share price/ projected 2012 eps of .80 is 8.6x.

Given WiLAN's "significant"pending settlements/litigation and anticipated reduced litigation costs in light of recent court actions, it might be rational to conclude that revenues will be 10% higher than the existing 2012 projection and expenses may be 10% lower.

The above would mean an eps of 1.00 rather than .80 (JMHO)

1.00 x 19.8 (Peer group multiple) = $19.80 share price.

Furthermore, as Jim Skippen pointed out at the 5/25 Investor's meeting in Santa Monica recently, unlike several of our competitors whose revenues are "lumpy",...

WiLAN's revenues/earnings are "more predictable" given our "quarterly" licensing revenue stream business model.

Come what may, WILN/WIN appears to be grossly underpriced. (JMHO)