Wed, Mar. 4, 4:26 PM
- InterDigital (NASDAQ:IDCC) plans to sell $275M worth of senior convertible notes due 2020. Initial purchasers are expected to have a $41M overallotment option.
- $50M of the net proceeds will be used on stock buybacks. Most of the rest will go towards "general corporate purposes," which might include repaying debt.
- The 3G/4G patent owner had $703.9M in cash/short-term investments at the end of Q4, and $220.4M in long-term debt and other long-term liabilities.
- Shares are down just fractionally AH for now.
Thu, Feb. 19, 8:02 AM
Wed, Feb. 18, 5:30 PM| Wed, Feb. 18, 5:30 PM | 7 Comments
Wed, Feb. 18, 10:17 AM
- InterDigital (IDCC -1.5%) has slipped amid a report the company's appeal of an adverse ITC ruling for its infringement suit against ZTE and Microsoft's phone unit (formerly Nokia's) has been rejected.
- The 3G/4G patent owner received a favorable ruling in October from a Delaware court for an infringement suit against ZTE. Q4 results arrive tomorrow morning.
- Update (12:40PM): InterDigital has issued a PR confirming the rejection. The company adds its Delaware cases and a separate ITC case feature patents not covered by the decision.
Mon, Jan. 26, 5:41 PM
- InterDigital's (NASDAQ:IDCC) Q4 report arrives before the open on Thursday, Feb. 19. CC at 10AM ET. CC at 10AM ET.
- The 2-analyst consensus is for revenue of $85.9M (-13.8% Y/Y), and EPS of $0.31. Shares +15% since InterDigital posted a Q4 beat on Oct. 30.
- Separately, the company has announced an ITC evidentiary hearing for its infringement case against Nokia and Microsoft has commenced. InterDigital is alleging infringement of two 3G W-CDMA patents, and seeking import bans on infringing hardware.
Dec. 16, 2014, 5:36 PM
- Pres. Obama recently pressed Chinese president Xi Jinping about attempts by Chinese regulators to limit the royalties collected by foreign companies for the use of their IP.
- National Security Council spokesman Patrick Ventrell: "The United States government is concerned that China is using numerous mechanisms, including anti-monopoly law, to lower the value of foreign-owned patents and benefit Chinese firms employing foreign technology ... President Obama raised these concerns."
- Though Obama reportedly didn't mention Qualcomm (NASDAQ:QCOM) by name, it's the only major U.S. company currently subject to a Chinese antitrust probe related to royalty rates.
- While the probe continues, Qualcomm has stated it thinks Chinese licensees are under-reporting sales of royalty-bearing devices, and that some might be holding off on getting licenses. The company's light FY15 guidance had much to do with its Chinese licensing issues.
- The White House's efforts could also have implications for InterDigital (NASDAQ:IDCC), which has seen its own Chinese royalty-collection issues. China's antitrust regulator suspended a probe of InterDigital in May after the company made a series of licensing commitments.
- Prior Qualcomm/China commentary
Dec. 9, 2014, 2:36 PM
- 3G/4G IP licensing firm InterDigital (IDCC +3.6%) and storage adapter card/switch vendor Emulex (ELX +3.6%) have both rallied after presenting at Barclays' Global Technology Conference (webcast).
- InterDigital CEO Bill Merritt and Emulex CEO Jeff Benck each presented at 1:30PM ET. InterDigital is near its 52-week high of $53.50, and up 80% YTD.
Dec. 5, 2014, 4:21 PM
Nov. 13, 2014, 4:58 PM
- InterDigital's (NASDAQ:IDCC) Q4 guidance is above a sole analyst estimate of $73M, and implies a 16% Y/Y revenue drop at its midpoint.
- The guidance assumes $81M-$84M in recurring revenue (up from Q3's $73.2M), and no contribution from InterDigital's Arima arbitration award (received earlier this year).
- IDCC unchanged AH for now.
Oct. 30, 2014, 8:32 AM
Oct. 29, 2014, 5:30 PM
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Oct. 28, 2014, 12:11 PM
- InterDigital (NASDAQ:IDCC) has won a Delaware infringement suit against ZTE. ZTE was ruled to be infringing claims in 3 asserted InterDigital patents, and ZTE's attempts to have the claims rejected as invalid (on grounds of obviousness) were rejected.
- Earlier this year, InterDigital saw unfavorable ITC rulings for patents asserted against Nokia and ZTE. Q3 results are due on Thursday.
- The court ruling (.pdf)
- Update: InterDigital has issued a PR.
Sep. 17, 2014, 4:27 PM
- Steven Clontz has informed the company of his intention to retire from the board at the end of his term in June 2015. He'll be succeeded by Doug Hutcheson, who joined the board this summer.
- Clontz joined the InterDIgital (NASDAQ:IDCC) board in 1998 and has been chairman since 2010.
- Source: Press Release
Sep. 12, 2014, 4:18 PM
Aug. 21, 2014, 9:37 AM
- InterDigital (IDCC +0.5%) expects Q3 revenue of $74M-$76M, above a sole analyst estimate of $70.9M. Recurring revenue is expected to total $70M-$72M, down slightly from Q2's $74.3M.
- The 3G/4G IP owner says the guidance doesn't include any contribution from an arbitration award related to its licensing deal with Taiwanese manufacturer Arima.
Aug. 14, 2014, 5:41 PM
- The ITC has decided not to place import bans on Nokia and ZTE phones alleged by InterDigital (NASDAQ:IDCC) to be infringing its IP. (official ruling)
- The decision comes after an ITC administrative law judge ruled against InterDigital in June. Shares plunged in response. Discussing the judge's ruling, the ITC says it has decided "reverse certain findings, to take no position on others, and to terminate the investigation with a finding of no violation."
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InterDigital Inc designs and develops technologies that enable and enhance wireless communications and capabilities. The Company is a contributor of intellectual property to the wireless communications industry.
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