interdigital inc (IDCC) Key Developments
Edward B. Kamins and Gilbert F. Amelio to Retire from InterDigital Board of Directors
Mar 12 15
InterDigital, Inc. announced that Edward B. Kamins and Dr. Gilbert (Gil) F. Amelio have notified the company of their intentions to retire from the company's Board of Directors at the end of their respective terms, which extend until the June 2015 Annual Meeting of Shareholders. Mr. Kamins joined InterDigital's Board of Directors in December 2003, and has chaired its Compensation Committee since 2013, after having previously chaired the Audit Committee. He is the principal member of UpFront Advisors, a business consulting services firm he founded in March 2009 following his retirement from Avnet, where he served as Corporate Senior Vice President. Dr. Amelio joined InterDigital's Board of Directors in March 2011, after a year as a valued member of the company's Technical Advisory Council. Since 2013, Dr. Amelio has served as Chairman of the Nominating and Corporate Governance Committee of the Board of Directors, and he previously served as Chairman of its Compensation Committee. Dr. Amelio was a pioneering researcher before embarking on a business career that included tenures as Chief Executive Officer and Chairman of Apple Computer, President, Chief Executive Officer and Chairman of National Semiconductor, and President of Rockwell Communication Systems, a unit of Rockwell International.
InterDigital, Inc. Declares Regular Quarterly Cash Dividend Payable on April 29, 2015
Mar 11 15
InterDigital, Inc. announced that its Board of Directors has declared a regular quarterly cash dividend of $0.20 per share on its common stock, payable on April 29, 2015 to shareholders of record at the close of business on April 15, 2015.
InterDigital, Inc.'s oneMPOWER IoT Platform to be Available Through WoT.Io, Inc
Mar 2 15
InterDigital, Inc. announced the planned availability of its oneMPOWER platform solution through WoT.Io, Inc. This collaboration will give customers the ability to combine a simple, flexible data environment with the mature, proven oneM2M-based M2M/IoT platform in the industry. The result will facilitate application development, analytics and other data services while ensuring a robust, future-proof standards-based solution. As a marketplace for various IoT services, wot.io will provide customers of InterDigital's oneMPOWER platform access to their wide portfolio of other third party services and data. The agreement is pursuant to a non-binding memorandum of understanding between InterDigital and wot.io. InterDigital's oneMPOWER platform is an oneM2M standards-based horizontal M2M/IoT solution that offers numerous services that span connectivity, device, data, and transaction management, resulting in faster time-to-market and revenue, reduced complexity, and lower costs.
InterDigital, Inc. and Peraso Technologies Inc. Demonstrate First Wigig-Based Millimeter Wave Mesh Backhaul System
Feb 27 15
InterDigital, Inc. and Peraso Technologies Inc. announced the integration of their respective technologies into the world's first WiGig-based Millimeter Wave Mesh Backhaul system. The technology will enable easier deployments for small cell mobile backhaul resulting in lower cost solutions for high-speed data delivery in 4G and 5G networks. The system developed by the InterDigital Labs team includes imec's 60 GHz PHARA4 radio and phased array antenna with fast electrical beam steering in azimuth and elevation, and Peraso's highly integrated PRS4000 WiGig baseband chip, operating at multi-Gbps data rates. InterDigital's software provides self-configuration and data routing for the multi-hop mesh backhaul. The cost-effective architecture uses radio and baseband components targeted for high volume consumer electronics rather than proprietary architectures found in existing millimeter backhaul solutions. Multi-sector rapid beam steering enables many links to be supported with the same equipment for added cost-reduction, reliability, and simple network scaling with additional nodes. InterDigital calls the solution EdgeHaul, and aims to bring it to industry field trials in the second half of 2015.
InterDigital, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Revenue Guidance for the First Quarter and Full Year 2015
Feb 19 15
InterDigital, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenue of $86.1 million, compared to $99.7 million in fourth quarter 2013. Recurring revenue was $85.1 million, consisting of current patent royalties and current technology solutions revenue, representing an increase of 38% compared to $61.6 million in fourth quarter 2013. Net income attributable to the co. was $13.8 million, or $0.36 per diluted share, compared to net income of $14.5 million, or $0.35 per diluted share, in fourth quarter 2013. Income from operations was $25,288,000 against $37,980,000 a year ago. Income before income taxes was $20,589,000 against $24,274,000 a year ago. Net cash provided by operating activities was $55,984,000 against net cash used by operating activities of $545,000 a year ago. Purchases of property, equipment, & technology licenses were $3,899,000 against $1,859,000 a year ago.
For the year, the company reported total revenue of $415.8 million, a 28% increase compared to $325.4 million in 2013. This year-over-year increase in total revenue was primarily attributable to the $88.8 million increase in current patent royalties as a result of new patent license agreements signed in second quarter 2014 and increased shipments by certain of licensees. Recurring revenue was $288.8 million, representing an increase of 46% compared to $198.3 million in 2013. Net income attributable to the co. was $104.3 million, or $2.62 per diluted share, compared to net income of $38.2 million, or $0.92 per diluted share, in 2013. Income from operations was $168,960,000 against $84,756,000 a year ago. Income before income taxes was $153,528,000 against $61,519,000 a year ago. Net cash provided by operating activities was $242,013,000 against $218,175,000 a year ago. Purchases of property, equipment, & technology licenses were $7,095,000 against $4,591,000 a year ago.
The company expects that sales volumes of per-unit licensees in fourth quarter 2014 will drive first quarter 2015 total revenue to a range of between $107 million and $110 million, comprised entirely of recurring revenue. The expected sequential quarterly increase is based on the same set of licensees the company had in fourth quarter 2014 and results, in part, from second half 2014 product introductions.
Overall, the company’s licensing efforts in 2014 built a platform for the generation of over $300 million in recurring revenue for 2015, a 50% increase in that important metric at the beginning of 2014.