Company Name: InterDigital, Inc.
Stock Market: NASDAQ (IDCC)
Industry Sector: Patent Owners and Lessors
Market Capitalisation: $1,083 million
Yearly Revenue: $234.2 million (as of December 31, 2007)
Net Income: $20.0 million (as of December 31, 2007)
Total Assets: $534.9 million (as of December 31, 2007)
Key People: William J. Merritt (President, Chief Executive Officer and President of InterDigital Technology Corporation), Richard J. Brezski (Chief Accounting Officer), Scott A. McQuilkin (Chief Financial Officer), Gary D. Isaacs (Chief Administrative Officer), Brian G. Kiernan (Executive Vice President, Standards), Mark A. Lemmo (Executive Vice President, Business Development and Product Management), William C. Miller (Executive Vice President, Programs and Customer Support), James J. Nolan (Executive Vice President, Engineering), Janet Meenehan Point (Executive Vice President, Communications and Investor Relations)
Headquarters Address: 781 Third Avenue King of Prussia, Pennsylvania
Number of Employees: 380 (as of December 31, 2007)
Website Address: www.interdigital.com
Company Overview
InterDigital, Inc. (“InterDigital” or the “Company) is a designer and developer of highly developed, digital, wireless technologies utilised in digital cellular and wireless IEEE 802 connected products. It is actively involve in and contributes its technology solutions to international associations responsible for the approval and development of standards to which digital cellular and IEEE 802 compliant products are constructed, and its contributions are frequently integrated into such standards. The Company provides licences of its patents to equipment manufacturers that sell, produce and utilise digital cellular and IEEE 802 related products. Moreover, it provides for sale or licence the SlimChip class of mobile broadband modem solutions, including Reference Platforms, baseband ICs and IP know-how, to semiconductor companies, mobile device producers, and other equipment producers that sell, utilise and manufacture digital cellular. The Company established its set of patent and technology offerings by means of selected acquisitions, joint development with other corporations, and independent development.
The goal of InterDigital, Inc. is to gain revenue on each 3G mobile device sold, either in patent licencing revenues, product connected revenues, or through a mixture of these components. In current years, its patent licence arrangements have imparted the majority of the Company’s revenues and cash flow. In the year ended December 31, 2007, the Company recorded patent royalties on almost one-third of the entire 3G mobile devices sold internationally. Moreover, its technology product solutions provide additional ways to produce revenue from 3G mobile devices.
Presently, the Company generates revenue principally from royalties obtained under its patent licence agreements. It also generates revenues by licencing its technology solutions and by offering other associated development support. The Company intends to increase its revenue by means of organic growth of its existing customers, by entering into new patent licence arrangements and by producing sales of its SlimChip solutions.
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Current Financial Overview
The Company’s revenues were $234.2 million in 2007, $480.5 million in 2006, and $163.1 million in 2007. Its recurring revenues were $219.5 million in 2007, $213.1 million in 2006, and $152.9 million in 2005. The growth in recurring revenues over the previous two years is primarily due to the growth in the total number of licensees and greater royalties from the Company’s current licensees, based on increased sales of covered 3G products.
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