InterDigital Announces Second Quarter 2008 Financial Results

1 Pro forma figures have been prepared to illustrate the exclusion of the impact of the expense relating to the Federal Insurance arbitration. Refer to the pro forma income statement at the end of this release for further disclosures surrounding the companys presentation of pro forma net income and earnings per share.

2 InterDigital defines free cash flow as operating cash flow less purchases of property and equipment and investments in patents. A detailed reconciliation of free cash flow to GAAP results is provided at the end of this release.

SUMMARY CONSOLIDATED STATEMENT OF OPERATIONS

For the Periods Ended June 30
(Dollars in thousands except per share data)

(unaudited)

For the Three Months
Ended June 30,

For the Six Months
Ended June 30,

2008 2007 2008 2007
REVENUES $ 58,706 $ 55,006 $ 114,733 $ 122,824
OPERATING EXPENSES:
Sales and marketing 2,049 1,879 4,437 3,975
General and administrative 5,705 6,126 11,380 12,670
Patents administration and licensing 20,436 18,075 35,487 31,280
Development 22,677 21,193 45,879 42,977
Arbitration & litigation contingencies 16,612 (1,200 ) 16,612
50,867 63,885 95,983 107,514
Income (Loss) from operations 7,839 (8,879 ) 18,750 15,310
NET INTEREST & OTHER INVESTMENT INCOME 1,231 2,272 1,669 4,905
Income (Loss) before income taxes 9,070 (6,607 ) 20,419 20,215
INCOME TAX (PROVISION) BENEFIT (3,218 ) 2,201 (7,250 ) (6,952 )
NET INCOME (LOSS) APPLICABLE TO COMMON SHAREHOLDERS

$

5,852

$

(4,406

)

$

13,169

$

13,263

NET INCOME (LOSS) PER COMMON SHARE BASIC

$

0.13

$ (0.09 ) $ 0.29

$

0.27

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING BASIC 45,358

46,957

45,892

48,362

NET INCOME (LOSS) PER COMMON SHARE DILUTED

$

0.13

$

(0.09

)

$

0.28

$

0.26

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING DILUTED 46,450 46,957

46,886

50,379

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