DOW JONES NEWSWIRES
Citing confidence in the progress made during its fiscal second quarter, Wi- LAN Inc. (Toronto:WIN) (WIN.T) provided its first-ever annual revenue and pro-forma earnings guidance.
The Ottawa technology-licensing company reported revenue of C$3.2 million in the second quarter, well ahead of the C$75,000 recorded a year earlier but down from C$4.7 million in the first quarter.
Wi-LAN said it signed 17 wireless and v-chip licensing agreements in the latest quarter, which ended April 30, which it said earlier was a company record. The total included 10 wireless deals and seven v-chip deals. It subsequently signed a Wi-Fi licensing deal with Taiwan's ASUSTeK Computer Inc. ( ASUS).
According to Thomson Reuters, the mean analyst revenue estimate for the second quarter was C$5 million.
Wi-LAN also reported a GAAP loss of C$4.1 million or 4 Canadian cents a share for the second quarter, compared with a GAAP loss of C$2.3 million or 3 Canadian cents a year earlier.
In the first quarter, its GAAP loss was 2 Canadian cents a share.
On a pro forma basis, which excludes certain items, Wi-LAN lost C$500,000 or 1 Canadian cent a share.
Wi-LAN backed its previous estimate of C$140 million in revenue backlog for the fiscal year and said it expects revenue in the range of C$15 million to C$20 million and pro-forma earnings of C$2 million to C$5 million.
Operating expenses, excluding stock-based compensation, are expected to range from C$16 million to C$19 million. In its first-quarter earnings release, it said operating expenses for the fiscal 2008 would likely be in the range of C$19 million to C$23 million.
It's Wi-LAN's practice not to provide guidance on the range of expected future revenue and earnings given the relatively early stage of its licensing programs.
In the second quarter, operating expenses were C$5.0 million, compared with C$ 3.7 million in the first quarter.
-Carolyn King; 416-306-2100; AskNewswires@dowjones.com
(END) Dow Jones Newswires 06-04-08 0833 Copyright (c) 2008 Dow Jones & Company, Inc.
