|
SUMMARY CONSOLIDATED STATEMENTS OF INCOME
| |||||||||||||||
| (dollars in thousands except per share data)
| |||||||||||||||
| (unaudited) | |||||||||||||||
|
For the Three Months
Ended September 30, |
For the Nine Months
Ended September 30, | ||||||||||||||
| 2016 | 2015 | 2016 | 2015 | ||||||||||||
| REVENUES: | |||||||||||||||
| Per-unit royalty revenue | $ | 35,804 | $ | 43,698 | $ | 154,018 | $ | 175,270 | |||||||
| Fixed fee amortized royalty revenue | 45,740 | 33,373 | 103,936 | 100,119 | |||||||||||
| Current patent royalties | 81,544 | 77,071 | 257,954 | 275,389 | |||||||||||
| Past patent royalties | 123,973 | 21,817 | 129,417 | 49,094 | |||||||||||
| Total patent licensing royalties | 205,517 | 98,888 | 387,371 | 324,483 | |||||||||||
| Current technology solutions revenue | 2,790 | 1,520 | 4,615 | 4,770 | |||||||||||
| Past technology solutions revenue | — | — | — | 84 | |||||||||||
| $ | 208,307 | $ | 100,408 | $ | 391,986 | $ | 329,337 | ||||||||
| OPERATING EXPENSES: | |||||||||||||||
| Patent administration and licensing | 26,149 | 28,363 | 81,601 | 91,200 | |||||||||||
| Development | 15,560 | 16,618 | 50,438 | 52,935 | |||||||||||
| Selling, general and administrative | 9,880 | 10,040 | 31,790 | 29,993 | |||||||||||
| 51,589 | 55,021 | 163,829 | 174,128 | ||||||||||||
| Income from operations | 156,718 | 45,387 | 228,157 | 155,209 | |||||||||||
| OTHER EXPENSE (NET) | (3,798 | ) | (8,108 | ) | (11,641 | ) | (21,090 | ) | |||||||
| Income before income taxes | 152,920 | 37,279 | 216,516 | 134,119 | |||||||||||
| INCOME TAX PROVISION | (49,397 | ) | (13,491 | ) | (46,813 | ) | (50,044 | ) | |||||||
| NET INCOME | $ | 103,523 | $ | 23,788 | $ | 169,703 | $ | 84,075 | |||||||
| Net loss attributable to noncontrolling interest | (943 | ) | (732 | ) | (2,828 | ) | (2,112 | ) | |||||||
| NET INCOME ATTRIBUTABLE TO INTERDIGITAL, INC. | $ | 104,466 | $ | 24,520 | $ | 172,531 | $ | 86,187 | |||||||
| NET INCOME PER COMMON SHARE — BASIC | $ | 3.05 | $ | 0.68 | $ | 4.99 | $ | 2.38 | |||||||
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — BASIC | 34,280 | 35,798 | 34,607 | 36,257 | |||||||||||
| NET INCOME PER COMMON SHARE — DILUTED | $ | 2.99 | $ | 0.68 | $ | 4.92 | $ | 2.35 | |||||||
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — DILUTED | 34,953 | 36,205 | 35,091 | 36,658 | |||||||||||
| CASH DIVIDENDS DECLARED PER COMMON SHARE | $ | 0.30 | $ | 0.20 | $ | 0.70 | $ | 0.60 | |||||||
