Re Mosaid settlement, this language implies settlement value of approx. $120 million cdn., which would add approx. $10/share in cash to existing $5 or so. With commensurate settlements from other infringers, projected book value of the stock would appear to be approx $25 cdn. minimum. Stock is on sale for book value...
With respect to financial guidance, the Samsung agreement impacts the Company's expected results for its third quarter and the fiscal year. Driven principally by the incremental revenues from Samsung, the Company now forecasts revenues in Q3 fiscal 2005 of $16.5 to 17 million versus its previous guidance of $4 to 4.5 million. For the fiscal year, revenues are expected to be $44.5 to 45 million versus previous guidance of $30 to 32 million. Earnings are now expected to be $33.5 to 34 million for Q3 fiscal 2005 versus previous guidance of a loss of $5 to 6 million. However, this earnings forecast is impacted by the recognition of the Company's remaining income tax asset, which is more likely than not to be utilized. Without this adjustment, earnings for Q3 would be $5 to 5.5 million. For the fiscal year, earnings of $34.5 to 35 million are now forecast, versus previous guidance of a loss of $6 to7 million.
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