Ottawa-based WiLAN delivered “strong revenue and earnings” in the second quarter of 2015, CEO Jim Skippen said Wednesday.
Mr. Skippen, who recently announced plans to retire, attributed the success to strong execution of the company’s business strategy. He said the company added portfolios and licensing patents in newer markets and also added portfolios from vendors who will receive only a portion of revenue once WiLAN licenses the technology.
“During the quarter, we acquired the Qimonda portfolio from Infineon Technologies, which has broad relevance to many semiconductor products,” Mr. Skippen said in a statement. “We also signed a significant licence agreement with Samsung.”
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The patent licensing firm’s revenue exceeded guidance, it said, in large part because of the Samsung deal.
WiLAN (TSX:WIN) (NASDAQ:WILN) reported second-quarter revenue of $35 million, up 71 per cent from the previous three-month period and 36 per cent from the same quarter last year.
Adjusted earnings came in at $24.9 million, or 21 cents per share, up 264 per cent from the previous quarter and 50 per cent from the second quarter of 2014. The firm’s GAAP net earnings were $11 million, or nine cents per share, compared with a loss of $4.8 million in the last quarter. That also marks a 96 per cent increase from the second quarter last year.
As of June 30, the company had $114.1 million in cash, cash equivalents and short-term investments, down $13.6 million from Dec. 31, due largely to $10.5 million worth of dividends paid to shareholders.
