(RTTNews) - Digital wireless technology provider InterDigital, Inc. (IDCC:
News ), Tuesday said it expects revenue for the fourth quarter of fiscal year 2009 to come in below analysts current consensus, reflecting some weakness in per unit royalties from its Japanese-based licensee.
For the fourth quarter, The King of Prussia, Pennsylvania-based company expects revenues in the range of $75.0 million - $76.0 million.
On average, three analysts polled by Thomson Reuters currently expect the company to report revenue of $77.53 million for the quarter, with estimates ranging from a low of $76.80 million to a high of $78.36 million. Analysts' estimate typically exclude one-time charges and gains.
InterDigital said the range does not include the potential impact of any new agreements that may be signed during the fourth quarter or the potential impact of any additional royalties identified in audits regularly conducted by the company.
The company noted that the revenue also reflects solid growth in its technology solutions revenue, mirroring the success its technology licensees continue to see in the handset market.
Scott McQuilkin, Chief Financial Officer, InterDigital said, "Fourth quarter 2009 revenue reflects some weakness in per unit royalties from our Japanese-based licensees offset by a full quarter's contribution from our new licensee, Pantech, and solid sales by our Smartphone licensees."
For the preceding third quarter, InterDigital reported a net income that more than tripled year-over-year to $30.6 million or $0.69 per share from $9.2 million or $0.20 per share, driven by revenue from new patent license agreements and lower operating expenses.
InterDigital's revenue for the third quarter increased 37% year-over-year to $75.5 million, with patent licensing revenue increasing 38% to $73.0 million from last year.
IDCC is currently trading at $23.13, down $0.63 or 2.65%, on a volume of 0.89 million shares on the Nasdaq.
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by RTT Staff Writer
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