The last of 2 Nokia $12.5 Million payments will be recorded in IDCC's 4th Quarter.
InterDigital Issues Revenue Guidance for Second Quarter 2006; Solid Recurring Royalties and Recognition of Nokia Revenue Benefit Quarter
KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--May 30, 2006--InterDigital Communications Corporation (Nasdaq:IDCC) today announced that it expects total second quarter 2006 revenue to be in the range of approximately $291 million to $293 million. Expected revenues for second quarter 2006 include the following approximate amounts:
$228 million associated with the resolution of a dispute with Nokia related to a prior patent license agreement,
$50 million to $51 million of recurring patent license royalty revenue from its base of existing licensees,
$12 million of patent license royalty revenue related to resolution of a licensing matter with Panasonic, and
$1 million to $2 million of revenue related to technology solution agreements.
Additionally, InterDigital expects to recognize the balance of the revenue related to Nokia's $253 million payment this year, recording $12.5 million per quarter in each of third and fourth quarter 2006. Panasonic is obligated to provide InterDigital a royalty report for first quarter 2006 sales. As InterDigital has not yet received the report, the second quarter 2006 forecast does not include per unit royalties from Panasonic.