Printer Friendly

INTERDIGITAL COMMUNICATIONS CORPORATION REPORTS THIRD QUARTER UNAUDITED RESULTS

 KING OF PRUSSIA, Pa., Nov. 16 ~PRNewswire~ -- InterDigital Communications Corporation (AMEX: IDC) announced today its unaudited financial results for the third quarter ended Sept. 30, 1992.
 InterDigital's total third quarter 1992 revenues were $11,020,000 up 97 percent from $5,603,000 for the third quarter of 1991. Total revenues for the first nine months of 1992 were $26,966,000, a 66 percent increase over revenues of $16,292,000 for the same period in 1991. International sales for the first nine months of 1992 were $13,839,000 or 67 percent of Ultraphone sales compared to $7,070,000 or 48 percent of Ultraphone sales for the first nine months of 1991. InterDigital said it anticipates that international sales will continue to represent a majority of Ultraphone sales for the remainder of 1992 and future years.
 In the third quarter of 1992, InterDigital recorded $500,000 of license fee revenue from Acuity Digital, Inc. for an initial up-front royalty in conjunction with the grant of a non-exclusive royalty bearing license of the company's Time Division Multiple Access (TDMA) technology. License fee revenue for the nine months ended Sept. 30, 1992, amounted to $3 million which includes the revenue from Hughes Network System (HNS) of $2.5 million recorded in the first quarter and the fee from Acuity.
 InterDigital recorded a third quarter net loss of $2,268,000 compared to $1,943,000 for the third quarter in 1991. The net loss for the first nine months of 1992 was $5,184,000 as compared to a net income of $686,000 for the first nine months of 1991 which included a non- recurring gain of $8.2 million from the sale of a cellular license in March 1991. InterDigital has commenced the in-house assembly, integration and testing of Ultraphone subscriber units which are expected to result in lower cost units than were previously purchased from HNS. The significant benefits of this in-house assembly are expected to be realized in the Cost of Sales and related gross margins beginning in the fourth quarter of 1992. In a related matter, the company has experienced supply and quality problems with a sole source supplier of one of the Ultraphone components which, if not resolved in a satisfactory manner, could have a material adverse impact on InterDigital's fourth quarter and 1992 operating results.
 On Aug. 14, 1992, a subsidiary of InterDigital submitted to the Telecommunications Industry Association (TIA) a Broadband-Code Division Multiple Access (B-CDMA) approach for standardization as the next generation of digital cellular radio technology. The development of B- CDMA standards through the TIA process is progressing with the company objective of TIA acceptance of B-CDMA as a second standard for the U.S. cellular industry. InterDigital said it feels that the evolving PCS industry will select B-CDMA as the standard for the industry because of B-CDMA's resistance to extreme multipath environments found in most offices and dense urban areas and allows spectrum sharing with existing microwave users.
 B-CDMA technology permits toll-quality voice transmission, broadband data transmission rates, ISDN compatibility, privacy and minimizes dropped-calls. A prototype of a Personal Communication System employing B-CDMA has been demonstrated in tests held in 1991 with the Federal Communication Commission. In addition, InterDigital is currently developing a B-CDMA wireless PBX which is expected to be ready for full testing by April 1993.
 InterDigital, a world leader in TDMA and B-CDMA wireless digital technology and products, currently holds 43 U.S. patents and has an additional 25 patents filed as well as patents filed or issued in more than 30 foreign countries. Its Ultraphone system has been ordered or installed for over 157 sites operating in Eastern Europe, North America, South America, the Middle East and the Pacific Rim.
 INTERDIGITAL COMMUNICATIONS CORPORATION
 (In thousands, except per-share data)
 Periods ended Third quarter Nine months
 Sept. 30 1992 1991 1992 1991
 Revenues $11,020 $5,603 $26,966 $16,292
 Non-recurring
 sale of RSA
 license --- --- --- 8,159
 Net income (loss) (2,268) (1,943) (5,184) 686
 Preferred dividends (76) (376) (228) (1,128)
 Net loss applicable
 to common
 shareholders (2,344) (2,319) (5,412) (442)
 Net loss per
 common share (.09) (.12) (.23) (.02)
 Weighted average
 common shares
 outstanding 24,786 19,959 23,050 19,746
 ~delval~
 -0- 11~16~92
 ~CONTACT: David L. Smith, vice president of InterDigital, 215-278-7831~
 (IDC)


CO: InterDigital Communications Corporation ST: Pennsylvania IN: TLS SU: ERN

JS-CC -- PH013 -- 1222 11~16~92 11:26 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 16, 1992
Words:747
Previous Article:LAUREL SAVINGS ASSOCIATION ANNOUNCES RESULTS OF ANNUAL MEETING
Next Article:MK ANNOUNCES INTENT TO BUY MANUFACTURER OF TURBOCHARGERS
Topics:


Related Articles
INTERDIGITAL RECEIVES NOTICE OF INTENT TO ORDER 75 ULTRAPHONE SYSTEMS FROM ACUITY DIGITAL, INC.
INTERDIGITAL'S B-CDMA TECHNOLOGY TO BE TESTED ON UNITED STATES CELLULAR'S SYSTEM
INTERDIGITAL'S PATENT SUBSIDIARY COMPLETES PRIVATE PLACEMENT
/ C O R R E C T I O N -- INTERDIGITAL COMMUNICATIONS CORPORATION /
INTERDIGITAL COMMUNICATIONS CORPORATION ANNOUNCES 1992 FOURTH QUARTER AND YEAR-END RESULTS AND EFFECT OF SCS ACQUISITION
INTERDIGITAL ANNOUNCES QUALCOMM'S AGREEMENT TO DROP ITS LAWSUIT AGAINST INTERDIGITAL; LITIGATION TO PROCEED IN PHILADELPHIA
INTERDIGITAL TECHNOLOGY ANNOUNCES GERMAN PATENT OFFICE REAFFIRMATION OF ITS TDMA SYSTEM PATENT
INTERDIGITAL REPORTS THIRD QUARTER UNAUDITED RESULTS
InterDigital Receives $43 Million Pakistani Order and First Order for Namibia Through Siemens Alliance
InterDigital Submits B-CDMA(TM) Air Interface To U.S. Standards Group for Fixed Wireless Access

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters