KING OF PRUSSIA, Pa.-Wireless technology company InterDigital Communications Corp. reported increasing revenues and a rising net income, news that helped send the company’s stock up almost 8 percent to about $16.17 per share.
InterDigital attributed its solid second quarter to new or renewed patent license agreements with Sharp Corp., Sony Ericsson, Research in Motion Ltd. and Nakayo Telecommunications Inc. The company also said it expects to come out on top in its licensing dispute with Nokia Corp.
InterDigital reported revenues of $25.8 million and net income of $3.1 million, up from the $25.2 million in revenues and a net income of $2.4 million in the same quarter last year.
“We’re obviously very pleased with our strong financial performance in second-quarter 2003 and are optimistic that we’ll continue to benefit from solid performances of our key licensees in second-half 2003,” said Rich Fagan, the company’s chief financial officer. “We anticipate that our operating expenses and capital expenditures in second-half 2003 will increase slightly as we examine and invest in growth and expansion opportunities and other strategic corporate initiatives.”
