Wi-LAN says its Q3 revenue better than internal forecast, bottom line improves

OTTAWA – Wi-LAN (TSX:WIN) says its third-quarter revenue turned out better than expected due to timing issues, rising almost 19 per cent to US$24.5 million.

That was above Wi-LAN’s guidance of US$19.7 million and analyst estimates of US$21.48 milion, according to Thomson Reuters data.

Meanwhile, the Ottawa-based intellectual property firm’s adjusted profit improved to US$13.2 million or 11 cents per share — a penny better than estimates — while its loss under standard accounting was reduced to US$375,000,or less than a cent.

In the third quarter of 2013, Wi-LAN had an adjusted loss of US$263,000 or zero cents per share and a net loss US$6.5 million or five cents per share under standard accounting.

Analysts had estimated Wi-LAN would have 10 cents per share of adjusted profit during the quarter.