WiLan Reports Huge Revenue Growth For Q2 '11

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

About Dave Forde

Dave “The Connector” Forde has been involved in the technology industry across Canada for over 10 years in sales and marketing roles, he launched PR In Canada, and on Profectio.