Quarterhill Inc (QTRHF)

[SsMurry]

Wi-Lan beat estimates and increased forward guidance. This is a very positive Q2.

Wi-LAN Inc. ("WiLAN" or the "Company") (TSX:WIN)(NASDAQ:WILN) today announced financial results for the second quarter of fiscal year 2013 ended June 30, 2013. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.

Second Quarter 2013 Highlights

-- Revenues of $19.9 million, exceeding guidance of $17.5 million.
-- Adjusted earnings amounted to a loss of $762,000, within our guidance
range
-- Returned $7.1 million to shareholders in dividend and share buyback
payments.
-- Signed license renewal agreement with Samsung Electronics.
-- Held cash and cash equivalents and short-term investments of $159.3
million at June 30, 2013.

"Our second quarter revenues exceeded our guidance and increased sequentially over the first quarter." said Jim Skippen, President & CEO. "Despite unusually high litigation activity targeted at realizing value from our broad portfolio of IP, our business generated $2.1 million from operations during the quarter and returned over $7.1 million to shareholders in dividend and share buyback payments."

Added Skippen, "During the quarter we signed five new licenses including a broad Digital TV and Display portfolio license with Panasonic and an early license renewal with Samsung. We look forward to further strengthening our business relationship with Samsung and seeking opportunities to work together in the building of more valuable patent portfolios."