News Column

Unwired Planet, Inc. Announces Third Quarter Fiscal 2014 Financial Results

May 24, 2014



By a News Reporter-Staff News Editor at Investment Weekly News -- Unwired Planet, Inc. (NASDAQ: UPIP) announced financial results for the third quarter of fiscal year 2014.

"The third quarter was a milestone for Unwired Planet as the company's value creation strategies resulted in the signing of a license and patent sale agreement (which closed in April), and the initiation of two lawsuits filed internationally," said Eric Vetter, president and chief administrative officer of Unwired Planet. "These initiatives, which are significant in scope and magnitude, provide the framework for future transactions. From an operational standpoint, the company is well capitalized, positioned to enforce our portfolio rights and poised to maximize returns for shareholders."

On a GAAP basis, net loss for third fiscal quarter ended March 31, 2014 was $9.4 million, or $0.09 per share, compared with a net loss of $7.3 million, or $0.07 per share, in the prior quarter, and with a net loss of $12.2 million, or $0.13 per share, in the March quarter of the preceding year.

On a non-GAAP basis, net loss for the third fiscal quarter ended March 31, 2014, was $8.4 million, or $0.08 per share, compared with a net loss of $7.1 million, or $0.07 per share, in the prior quarter, and with a net loss of $5.8 million, or $0.06 per share, in the March quarter of the preceding year. Non-GAAP net loss excludes restructuring, stock-based compensation, strategic costs, discontinued operations, and the tax impact of these items.

A reconciliation between net loss and net loss per share from a GAAP basis to a non-GAAP basis is provided below in a table immediately following the Condensed Consolidated Statements of Cash Flows. Conference Call Information Unwired Planet has scheduled a conference call for 5:00 p.m. eastern daylight time today to discuss its financial results for its third quarter fiscal 2014. Interested parties may access the conference call over the Internet through the company's website at www.unwiredplanet.com or by telephone at 877-941-2068 or 480-629-9712 (international). A replay of the conference call will be available until May 22, 2014, beginning at 5:00 p.m. PT on May 1, 2014 by calling 800-406-7325. The replay can be accessed internationally by calling 303-590-3030, access code: 4677609#.

Keywords for this news article include: Unwired Planet Inc, Finance and Investment.

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Source: Investment Weekly News


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