WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — InterDigital Inc. (IDCC) on Thursday reported fourth-quarter net income of $43 million.
On a per-share basis, the Wilmington, Delaware-based company said it had net income of $1.20. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to $2.12 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.65 per share.
The wireless research and development company posted revenue of $158.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $147.1 million.
For the year, the company reported profit of $406.6 million, or $11.80 per share. Revenue was reported as $834 million.
For the current quarter ending in March, InterDigital expects its per-share earnings to range from $2.39 to $2.68.
The company said it expects revenue in the range of $194 million to $200 million for the fiscal first quarter.
InterDigital expects full-year earnings in the range of $8.74 to $11.84 per share, with revenue ranging from $675 million to $775 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IDCC at https://www.zacks.com/ap/IDCC
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