Publically traded patent licensing company Wi-LAN Inc. (WIN) reported a Q2 net loss of 100,000 (USD), amounting to less than one cent per share.
The loss was a result of a myriad of things, including a $2.5 million year over year in expenses related to patent litigation. Other unexpected costs included $418,000 in restructuring charges in relation to technical research for various patents.
–The above was further exacerbated by a $7 million decrease in revenues. Adjusted earnings amounted to $10.1 million, or eight cents per share, which met analysts’ expectations. This total is down from last year’s total of $20.8 million or 17 cents per share.
“With the strong financial performance of our business and the confidence that we have in the future, we are investing more of our free cash flow at this time in dividend payments to shareholders,” said WiLAN president and CEO in a statement.
“As financial conditions permit, we plan to continue to consider the possibility of future dividend increases on a regular basis.”
As a result of the disappointing figures, the company has promised a quarterly dividend increase for Q3 of half a cent per share. This would bring the total to 3.5 cents per share, an increase of 16 per cent.
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[…] share holders got some bad news announced a net loss of $100,000 for the most recent quarter (TQ was on it). The company attributed the loss of less than a cent a share on costly litigation expenses and a […]