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InterDigital Q4 Results Top Estimates; Guides Q1, FY24 Well Above Estimates
(RTTNews) - InterDigital, Inc. (IDCC) on Thursday reported fourth-quarter net income available to common shareholders of $39.1 million or $1.41 per share, up from $32.4 million or $1.08 per share in the prior-year quarter.
Excluding one-time items, adjusted earnings for the quarter were $1.41 per share, compared to $1.62 per share in the year-ago quarter.
On average, five analysts polled by Thomson Reuters expected the company to report earnings of $0.89 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter decreased 10 percent to $105.5 million from $117.1 million in the same quarter last year. Analysts expected net sales of $104.64 million for the quarter.
Looking ahead the first quarter, the company expects earnings in a range of $2.40 to $2.95 per share and adjusted earnings in a range of $3.02 to $3.58 per share on net sales between $245 million and $255 million. Analysts expected earnings of $1.29 per share on net sales of $107.68 million for the quarter.
For fiscal 2024, the company now projects earnings in a range of $4.95 to $6.15 per share and adjusted earnings in a range of $7.45 to $8.76 per share on net sales between $620 million and $670 million. The Street is looking for earnings of $4.51 per share on net sales of $505.52 million for the year.
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