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The following pro forma statements of financial results exclude the expense associated with the Federal arbitration award and related tax expense items. The company has provided these pro forma figures here and elsewhere in this press release. Management regards the arbitration award as a non-recurring item not indicative of operating results for the period and believes that investors may share this viewpoint. |
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PRO FORMA SUMMARY CONSOLIDATED STATEMENT OF OPERATIONS |
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(Dollars in thousands except per share data) |
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(unaudited) |
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For the Three Months Ended
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For the Six Months Ended
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| Actual | Adjustments | Pro Forma | Actual | Adjustments | Pro Forma | |||||||||||||||||
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REVENUES |
$ |
5,006 |
$ | 5,006 |
$ |
22,824 |
$ |
122,824 |
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| OPERATING EXPENSES: | ||||||||||||||||||||||
| Sales and marketing | 1,879 | 1,879 | 3,975 | 3,975 | ||||||||||||||||||
| General and administrative | 6,126 | 6,126 | 12,670 | 12,670 | ||||||||||||||||||
| Patents administration and licensing | 18,075 | 18,075 | 31,280 | 31,280 | ||||||||||||||||||
| Development | 21,193 | 21,193 | 42,977 | 42,977 | ||||||||||||||||||
| Arbitration award | 6,612 | (16,612 | ) | — | 16,612 | (16,612 | ) | — | ||||||||||||||
| 63,885 | (16,612 | ) | 47,273 | 107,514 | (16,612 | ) | 90,902 | |||||||||||||||
| (Loss) income from operations | (8,879 | ) | 16,612 | 7,733 | 15,310 | 16,612 | 31,922 | |||||||||||||||
| NET INTEREST & OTHER INVESTMENT INCOME | 2,272 | 2,272 | 4,905 | 4,905 | ||||||||||||||||||
| (Loss) income before income taxes | (6,607 | ) | 16,612 | 10,005 | 20,215 | 16,612 | 36,827 | |||||||||||||||
| INCOME TAX BENEFIT (PROVISION) | 2,201 | (5,648 | ) | (3,447 | ) | (6,952 | ) | (5,648 | ) | (12,600 | ) | |||||||||||
| NET (LOSS) INCOME APPLICABLE TO COMMON SHAREHOLDERS | (4,406 | ) | 10,964 |
$ |
6,558 |
$ |
3,263 |
10,964 | $ | 24,227 | ||||||||||||
| NET (LOSS) INCOME PER COMMON SHARE – BASIC | $ | ( 0.09 | ) | $ | 0.14 | $ | 0.27 | $ | 0.50 | |||||||||||||
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING BASIC | 46,957 |
46,957 |
48,362 |
48,362 | ||||||||||||||||||
| NET (LOSS) INCOME PER COMMON SHARE – DILUTED | $ | ( 0.09 | ) | $ | 0.13 | $ | 0.26 | $ | 0.48 | |||||||||||||
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING – DILUTED | 46,957 | 48,908 | 50,379 | 50,379 | ||||||||||||||||||
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InterDigital Announces Second Quarter 2008 Financial Results
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