WiLAN generates record revenue/earnings+20% dividend increase.
WiLAN Reports Fiscal Year 2011 Financial Results
Company generates record revenue and earnings Company announces 20% dividend increase
Wednesday, March 07, 2012
OTTAWA, CANADA--(Marketwire - March 7, 2012) - Wi-LAN Inc. ("WiLAN" or the "Company") (TSX:WIN)(NASDAQ:WILN) today announced financial results for the fiscal year ended December 31, 2011. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.
Fiscal Year 2011 Highlights
• Record revenues of $105.8 million, an increase of 115% as compared to $49.2 million in the twelve month period ended December 31, 2010.
• Record adjusted earnings* of $71.5 million, or 58 cents per share, as compared to adjusted earnings of $4.8 million, or 5 cents per share, in the fiscal year ended December 31, 2010.
• Record GAAP earnings of $31.8 million, or 26 cents per share on a basic level, as compared to a GAAP loss of $21.6 million, or 21 cents per share on a basic level, in the same period last year.
• Signed licenses with 19 companies, including Intel Corporation, Broadcom Corporation, and Motorola Mobility, bringing the total number of companies licensed to 258.
• Signed a renewal license agreement with Cisco Systems.
• Subsidiary, Gladios IP, signed licensing partnerships with six organizations.
• More than doubled the Company's patent portfolio to over 3,000 issued and pending patents.
• Listed its shares on the NASDAQ Global Select Market on June 1, 2011.
• Returned $13.5 million to shareholders in share buyback and dividend payments.
• Generated $57.1 million in cash from operations; held cash and cash equivalents and short- term investments of $433.7 million at year end.
• Doubled annual dividend to CDN
.10 per common share in February 2011.
"Fiscal 2011 was a defining year for WiLAN. Achievements across all areas of our business launched WiLAN into a new league," said Jim Skippen, President & CEO.
"License agreements signed during the year contributed to the more than doubling of our revenues, to over $105 million, and positioned the Company to generate significant future revenues. Strategic patent acquisitions completed during the year more than doubled the size of our patent portfolio," added Skippen.
Skippen continued, "With our large and valuable patent portfolio, expert team, significant backlog and very strong financial position, we are well positioned to deliver strong revenue and earnings in the years to come."
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