Rodime Plc, the Edinburgh company that used to make disks but is now just a patent royalty collection agency, turned in full year losses of $7.4m. Of this around UKP5m of the UKP6.2m under administrative costs in the profit and loss account went on legal fees. It still has court proceedings outstanding concerning its patent on the 3.5 Winchester disk with Quantum Corp and Seagate Technology Inc but warned that the timings and outcome of these proceedings remain uncertain. In the Quantum proceedings, Quantum recently won a summary judgement declaring that certain of Rodime’s patents were impermissibly broadened during re-examination by the US Patent Office in 1988. Rodime has appealed and expects a decision within the next three to six months. If the appeal fails, Rodime’s chances of winning money from other infringers would be materially affected. Rodime is also wrangling with Maxtor Corp, which claims that it succeeded to the licence of MiniScribe Inc when it bought the assets. Rodime has completed agreements with 19 licensees since its licensing programme began, but won no new licensees in the last year. Rodime also intends to initiate proceedings with other infringers for fear of being time-barred. Rodime has negotiated with the Bank of Scotland Plc for an increase in the available revolving credit facility to $14m and an extension in terms, to continue its current licensing and litigation. No dividend is payable.
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