InterDigital, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Tax Rate Guidance for the Full Year 2018
August 02, 2018 at 08:30 am
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InterDigital, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenues of $69,555,000 against $135,779,000 a year ago. Income from operations was $15,680,000 against $80,948,000 a year ago. Income before income taxes was $10,833,000 against $78,618,000 a year ago. Net income attributable to the company was $10,706,000 or $0.30 diluted per share against $52,499,000 or $1.46 diluted per share a year ago. Net cash provided by operating activities was $6,827,000 against $19,447,000 a year ago. Purchases of property, equipment, & technology licenses were $1,143,000 against $557,000 a year ago.
For the six months, the company reported revenues of $156,999,000 against $230,309,000 a year ago. Income from operations was $45,830,000 against $114,916,000 a year ago. Income before income taxes was $34,647,000 against $109,772,000 a year ago. Net income attributable to the company was $40,631,000 or $1.14 diluted per share against $86,255,000 or $2.39 diluted per share a year ago. Net cash provided by operating activities was $6,232,000 against net cash used in operating activities was $6,408,000 a year ago. Purchases of property, equipment, & technology licenses were $1,542,000 against $825,000 a year ago.
The company expects to report a negative effective tax rate for the full year, but expects its long-term tax rate will be in the range of approximately 14% to 15%.
InterDigital, Inc. is a global research and development company focused primarily on wireless, video, artificial intelligence (AI), and related technologies. It designs and develops foundational technologies that enable connected, immersive experiences in a range of communications and entertainment products and services. The Company license its innovations worldwide to companies providing such products and services, including makers of wireless communications devices, consumer electronics, IoT devices, cars and other motor vehicles and providers of cloud-based services such as video streaming. It focuses on wireless technology, which is used in wireless products and networks, from the earliest digital cellular systems to 5G and advanced Wi-Fi technologies. The Company also focuses on video processing and video encoding/decoding technology, with a significant AI research effort that intersects with both wireless and video technologies.
InterDigital, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Tax Rate Guidance for the Full Year 2018