The funny thing about the earnings "miss" today is that the revenue that was missed as a result of NEC's unfortunate delay in the handset shipment will be made up during the 1st quarter. We only have 2 months to wait for 1st quarter earnings which is great news to me.
IDCC does not guide anything that they can't control. They give guidance on expenses since they can control them. As far as revenue is concerned, they haven't got a clue until they receive the reports from their licensees. I do think they knew approximately what the revenue was going to be in early Feb since I believe their significant licensees NEC, Sharp & Ericy, probably all report within 30 days and they probably should have given a revenue range at that time. That to me was a mistake and going forward I hope they change their policy but they probably wont. If they didn't receive this information from the top 3/4 within 30 days, they wouldn't be able to issue meaningful quarterly reports. The other licensees, are not that significant.
I believe the reason for the delay was the hope they would have another licensee to report for the cc. They didn't, so all hell breaks loose today which was seriously compounded by the arbitration delay notice. Long term it wont matter. The shorts win another round today but at some point if they are not careful they will lose big time IMHO.
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