Wi-Lan Inc. reported consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company's royalties were $22,102,000 against $29,175,000 a year ago. Earnings from operations were $2,255,000 against $6,371,000 a year ago. Earnings before income taxes were $2,386,000 against $6,546,000 a year ago. Net and comprehensive earnings were $518,000 against $2,432,000 a year ago. Adjusted earnings were $12,182,000 $0.10 basic and diluted per share against $17,227,000 $0.14 basic and diluted per share a year ago. Cash generated from operations was $14,788,000 against $1,494,000 a year ago. Purchase of furniture and equipment was $51,000 against $185,000 a year ago. Purchase of patents was $7,485,000 against $6,559,000 a year ago. Adjusted earnings of $12.2 million represent a decline year-over-year of approximately $5 million, which is largely attributable to lower revenues for the quarter.

For the year, the company's royalties were $98,311,000 against $88,209,000 a year ago. Earnings from operations were $20,091,000 against loss of $18,900,000 a year ago. Earnings before income taxes were $20,624,000 against loss of $18,172,000 a year ago. Net and comprehensive earnings were $9,711,000 $0.08 basic and diluted per share against loss of $18,093,000 $0.15 basic and diluted per share a year ago. Adjusted earnings were $58,737,000 $0.49 basic and diluted per share against $17,555,000 $0.15 basic and diluted per share a year ago. Cash generated from operations was $58,629,000 against cash used in operations of $9,476,000 a year ago. Purchase of furniture and equipment was $422,000 against $1,795,000 a year ago. Purchase of patents was $43,062,000 against $10,261,000 a year ago. Adjusted earnings of $58.7 million or $0.49 per share represent an increase of $41.2 million or over 230% as compared to last year, reflecting strong control of expenses and revenue growth.

For the first quarter 2015 ending March 31, 2015, the company expects revenue to be at least $17.5 million. This revenue guidance does not include the potential impact of any additional reports yet to be received, new agreements that may be signed during the balance of the first quarter of 2015 or the potential impact of any royalties identified in audits conducted by the Company. Operating expenses for the first quarter are expected to be in the range of $14.4 million to $15.4 million of which $6.3 million to $7.0 million is expected to be litigation expense. For the first quarter of 2015, and assuming no additional agreements are signed, adjusted earnings are expected to be in the range of $2.2 million to $3.2 million.