I like how they used the words " Final Awards" in the press release! InterDigital Updates Guidance for Second Quarter 2005 and Timing of Samsung Arbitration
5/23/05
InterDigital Communications Corporation (Nasdaq:IDCC), a leading designer, developer and provider of wireless technology and product platforms, today announced that based on per-unit royalty reports received from the majority of its licensees, it expects to report record recurring revenue for second quarter 2005.
InterDigital expects second quarter 2005 revenue from current licensees and General Dynamics to be in the range of $37.2 million to $38.5 million. Second quarter 2005 patent licensing royalty revenue from current licensees is anticipated to be between $32.5 million and $33.0 million. In addition, work levels related to the agreement with General Dynamics remain high and, as a result, revenue associated with that agreement is anticipated to be equal to or higher than first quarter 2005 revenue of $4.7 million.
Richard Fagan, InterDigital's Chief Financial Officer, noted, "In second quarter 2005, we will once again benefit from a diversified licensee base and from having General Dynamics as a customer for our technology solutions."
In addition, InterDigital, Samsung and the arbitration tribunal with responsibility for the Samsung matter have mutually agreed to postpone the evidentiary hearing scheduled for June 2005. InterDigital currently expects the Samsung evidentiary hearing to commence in October 2005. The postponement is intended to provide InterDigital and Samsung ample time to consider the potential effect on their arbitration of the pending Final Award from the arbitral tribunal in InterDigital's arbitration with Nokia before the International Chamber of Commerce (ICC). Previously, the International Court of Arbitration of the ICC set May 31, 2005 as the last date for rendering a Final Award in the Nokia proceeding.
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