InterDigital's (IDCC) Board Authorizes Doubling of Buyback Program to $200M; Reaffirms Q2 Sales Guidance
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InterDigital's (Nasdaq: IDCC) Board has authorized a doubling of its buyback program to $200 million. The increase to the share buyback program was made in conjunction with the announcement that certain of the company’s subsidiaries had agreed to sell a portion of the company’s patent portfolio to Intel Corporation (NASDAQ: INTC) for $375 million in cash payable at closing.
Additionally, the company confirmed today its revenue guidance for the second quarter of 2012 of approximately $71 million, which includes approximately $9 million for the sale of four patent families in a separate transaction, as disclosed in the company’s May 4, 2012 guidance release. This revenue guidance does not include the potential impact of any additional new license or sale agreements that may be signed during second quarter 2012 or the potential impact of any royalties identified in audits regularly conducted by the company.
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Additionally, the company confirmed today its revenue guidance for the second quarter of 2012 of approximately $71 million, which includes approximately $9 million for the sale of four patent families in a separate transaction, as disclosed in the company’s May 4, 2012 guidance release. This revenue guidance does not include the potential impact of any additional new license or sale agreements that may be signed during second quarter 2012 or the potential impact of any royalties identified in audits regularly conducted by the company.
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