The Ottawa-based patent licensing firm said it had a net and comprehensive income of $16.47 million or 16 cents per share, up from just $277,000 or break-even on a per-share basis.
However, excluding stock-based compensation, unrealized foreign exchange gains or losses, depreciation and amortization and tax, WiLAN saw pro forma income slide to $2.7 million or three cents per share, from $9.1 million or 10 cents per share a year earlier. Revenues also declined to $9.08 million from $13.75 million.
CEO Jim Skippen pointed out that cash revenues in the 12 months ended Oct. 31 increased roughly 32 per cent over fiscal 2008, and that the company signed licence agreements with 50 companies, many of which were running-royalty multi-year contracts.
"Since the end of fiscal 2008, in the face of significant economic uncertainty, our business has delivered strong financial and operational performance and it has met or exceeded our guidance," said Mr. Skippen in a statement.
The most recent period would originally have been the end of WiLAN's fiscal 2009 year, but the firm has changed its year-end to Dec. 31 instead of Oct. 31, in order to provide better alignment with the royalty reporting periods of its licensees and to make it easier to compare with its industry peers.
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