InterDigital (IDCC) Reports 2Q Revenue Guidance Above Estimates
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InterDigital, Inc. (NASDAQ: IDCC), a mobile technology research and development company, today announced that it expects its total second quarter 2018 revenue to be between $63 million and $67 million. This range is comprised primarily of recurring revenue and includes less than $1 million of non-recurring revenue.
Under the accounting rules in effect prior to the company’s adoption of ASC 606, the company’s expected second quarter 2018 total revenue range would have been between $85 million and $88 million, again comprised primarily of recurring revenue and less than $1 million of non-recurring revenue. The company is providing this information under the previous revenue recognition rules solely in the interest of comparability during the transition year to ASC 606, and it should be considered in addition to, and not as a substitute for, nor superior to or in isolation from, the financial guidance prepared in accordance with ASC 606.
This revenue guidance does not include the potential impact of any new patent license, technology solutions or patent sale agreements that may be signed, or any arbitration or dispute resolutions that may occur, during the balance of second quarter 2018.
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