KING OF PRUSSIA, Pa.-InterDigital Communications Corp.’s first quarter results reflected an improved financial performance during the past year.
InterDigital reported revenues of $37.3 million, a 78-percent improvement from the year-ago quarter’s $20.9 million. The company credited the increase to the recognition of $24.7 million in royalties associated with new patent license agreements with Ericsson and Sony Ericsson.
The company’s net income was $26.7 million or 45 cents per share, up from last year’s breakeven earnings per share, which was also credited to the company’s royalties from Sony Ericsson and settlement of litigation with Ericsson.
InterDigital is now moving to settle royalty issues with Nokia and Samsung and is hopeful those resolutions will also positively affect 2003 revenues.