InterDigital (IDCC) Issues Financial Guidance for Third Quarter 2012

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InterDigital, Inc. (NASDAQ: IDCC) today announced financial guidance for third quarter 2012. InterDigital expects third quarter 2012 revenue to be approximately $435 million, including $375 million from the proceeds of the sale of roughly 1,700 patents and patent applications to Intel Corporation.

This revenue guidance does not include the potential impact of any additional new agreements that may be signed during the balance of third quarter 2012 or the potential impact of any royalties identified in audits regularly conducted by the company. The company is finalizing its accounting for the Intel transaction, but currently expects to recognize approximately $15 million in expenses associated with the patent sale in third quarter 2012, the majority of which relate to the write off of the carrying value for the patents sold.

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