InterDigital develops and licenses circuitry designs and software for CDMA and TDMA wireless telecom standards, as well as semiconductors and software for mobile phones and portable computing devices.
On Friday, it posted a $900,000 loss, or 2 cents a share, for the first calendar quarter, versus a $5.8m profit, or 10 cents a share, a year ago. Revenue rose to $35.5m from $33m.
Newly appointed CEO William Merritt said royalties from NEC, one of its largest customers, declined, but was offset by increased royalties from other customers, including Sharp. Its software licensing agreement with General Dynamics, which generated $4.7m in revenue for the quarter, also helped.
The King of Prussia, Pennsylvania-based company did provide full guidance for the current quarter, but expects royalties to improve 15% to 18% sequentially.
Merritt replaced Howard Goldberg as chief executive, the company said last week. Goldberg cited personal reasons for his departure. COO Charles Tilden also left the company last week and InterDigital said it does not expect to fill his position.
