Wireless technologies company InterDigital Inc. (IDCC: Quote) posted a lower profit in the first-quarter due to lower revenue and higher intellectual property enforcement and non-patent litigation costs.
For the first-quarter, net income was $10.9 million or $0.24 per share, down 53 percent from $23.3 million or $0.51 per share last year.
Revenue for the quarter declined 12 percent to $69.31 million from $78.46 million in the prior year period.
On average, four analysts polled by Thomson Reuters expected earnings of $0.31 per share on revenues of $69.67 million.
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by RTT Staff Writer
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