InterDigital Announces Financial Results for Third Quarter 2016

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

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