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Bim Re: past audit and 10% 

By: Data_Rox in IDCC | Recommend this post (3)
Sat, 29 Oct 11 8:09 PM | 429 view(s)
Boardmark this board | InterDigital Communications 		Msg. 43498 of 48237
(This msg. is a reply to 43497 by bim24)
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for grins I've told Postyle who I believe it is....I actually told him prior to you're posting...and JMO....we'll know more shortly....but lets say I believe the "audit" was for certain sales that were not reported .....or in disagreement... for almost 2 years.

I very much understand your contention that it should have shown up as a 10% contributor....but there is also a disparity in the 10-Q

page 18 ....Patent licensing royalties of $75.3 million in third quarter 2011 increased $6.7 million or 10% over second quarter 2011. This sequential increase was primarily driven by a $7.5 million increase in royalties from past sales as a result of a routine audit of an existing customer.

page 19...Comparability of Financial Results
When comparing third quarter 2011 financial results against other periods, the following items should be taken into consideration:

Our third quarter 2011 revenue includes $7.9 million of past sales related to the resolution of an audit of an existing customer.

so.....at $7.5M it's under the 10% reporting....?? maybe being for a significant past time period they saw it differently....


anyway....regarding HTC

....here is the company's 10-Q

http://www.sec.gov/Archives/edgar/data/1405495/000140549511000012/idcc-2011930x10qxq3.htm

If you review the company's disclosures on pages 23 and 24

For 9 months ending 9/30/11....total revenue was $224.8M

They disclose that HTC provided ~11% of 2011's total revenues

11% of $224.8M is ~$24.73M

In the post I put on iHub.....and the previous posts that you were questioning....

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68473913

IDCC reported HTC revenue in Q1 as ~$7.85M
IDCC reported HTC revenue in Q2 as ~$7.7M
IDCC reported HTC revenue in Q3 as ~$9.18M

hang on,,,,7.85+7.7+9.18 equals...wait for it....24.73

JMO....the company would have disclosed the "audit" increase for HTC...in either the current quarter or in the current fiscal year.

keep the faith.....


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The above is a reply to the following message:
Re: past audit and 10%
By: bim24 in IDCC
Sat, 29 Oct 11 6:01 AM 		Msg. 43497 of 48237

data rox,

it was brought to my attention that you are talking to me.
if you want to respond to me, do it here, not over at IHUB.

In my opinion, there are only 2 candidates that the underreporting occurred, either HTC or RIM. otherwise the licensee would have to be listed as 10% per the press release.

You can feel free to call IR if you like and ask that same question.

btw, since you don't know what price the royalty affects, you can't say for certain it is based on ASP.

Bill Merritt himself basically says that they collect up to some amount but not the full price of the phone.

now go back and stand next to miller.

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