KING OF PRUSSIA, Pa.-InterDigital Communications Corp. said it now expects to post third-quarter revenues below some analysts’ expectations, news that sent the company’s stock down slightly to $17.64 per share.
“Today’s guidance excludes the positive impact of any additional licensees that we expect to announce during third-quarter 2005,” said Richard Fagan, the company’s chief financial officer. “In addition, we based our estimate of our performance on the Philips agreement on the initial scope of work.”
InterDigital said it expects between $34.5 million and $36 million in revenues. Analysts polled by Thomson Financial Network predicted the company would post around $37 million in revenue.
InterDigital recently shut down sales of smart antennas for Wi-Fi networks, technology it acquired as part of its purchase of Tantivy Communications Inc. in 2003. InterDigital sold the antennas for around a year, but technology advances in the Wi-Fi market made them somewhat unneeded. The company said the move wouldn’t affect its revenue expectations.
