Telecommunications company WiLAN announced another good quarter last week with their second quarter results with revenues of $27.4 million representing an increase of 137% over the comparable period last year.
“WiLAN delivered very solid financial results in the second quarter of fiscal 2011,” said Jim Skippen, Chairman & CEO. “New license agreements signed earlier this year contributed to record revenues and significantly reduced litigation expenses in the second quarter.”
WiLan Second Quarter 2011 Highlights:
- Record cash revenues of $27.4 million, an increase of 137% as compared to $11.6 million in the three month period ended June 30, 2010
- Net earnings of $10.3 million, or 8 cents per share, as compared to a net loss of $5.6 million, or 5 cents per share, in the three month period ended June 30, 2010
- Signed a new license agreement with Cisco Systems Inc., representing the Company’s first license renewal
- Signed licensing partnerships with 01 Communique Laboratory Inc. and Poynt Corporation
- Acquired a portfolio of mobile communication patents from Glenayre Electronics, Inc. for $8.0 million
Generated $20.5 million in cash from operations; cash and short-term equivalents increased to $204.5 million at quarter end
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