KING OF PRUSSIA, Pa.-InterDigital Communications Corp. reported revenues for the first quarter ended March 31 of $35.1 million, a significant increase from the $10.1 million in revenues reported for first-quarter 1998.
Net income for the quarter was $21.2 million, or 43 cents per share, compared with a loss of $1.7 million, or 4 cents per share, recorded for the same period the previous year.
InterDigital said the increase in revenues was due mainly to licensing and engineering service agreements associated with the company’s new relationship with Nokia Corp. InterDigital President William Doyle said the company is developing high-end, digital technology building blocks for Nokia to use in third-generation wireless products.
During the quarter, Alcatel said it planned to withdraw from the B-CDMA Alliance with InterDigital. The two companies are working together to define a withdrawal process. InterDigital also continues to search for a chief executive officer.
