InterDigital falls on warning

InterDigital Inc. announced that it expects to pull in between $53.5 million and $54.5 million in revenues during the third quarter of 2007, which would fall at least $1 million short of analysts’ forecasts. The news prompted the company’s shares to drop more than 5%.
“We are pleased with the positive trend of our recurring revenue, reflecting solid sales of 3G products by our licensees,” CFO Scott McQuilkin said.
The company’s recurring revenue comes from the patents that it licenses to manufacturers of 2G, 2.5G, 3G and 802 products worldwide.
InterDigital said its forecast does not include any potential impact from any additional royalties or new agreements that may be signed during the quarter.