The company reported a net loss of $2.1 million in the final three months of 2012, compared to a net loss of $5.6 million a year earlier.
Adjusted earnings for the quarter were $7 million, down from $17.8 million in the fourth quarter of 2012. The company’s bottom line was hurt by lower revenues, which fell to $21.2 million from $24.2 million a year earlier, as well as higher litigation expenses, which climbed to $8.8 million from $2.6 million.
WiLAN started litigation against several other companies, the news released noted, including Apple, Ericsson and Research in Motion. The firm acquires patents and often has to defend those patents in court.
The company believes the actions it took during the calendar year 2012 will lead to growth over a long period of time. The release noted that the company acquired patent portfolios from Siemens AG and Alvarion Ltd.
"The sustainable growth of our business demands a disciplined licensing strategy and one that focuses on reaching the right agreements for the Company over the long-term,” said WiLAN president and CEO Jim Skippen in a statement.
“We reached agreements with eight companies in 2012 that are expected to generate significant future revenues."
WiLAN ended the year with a loss of $14.5 million, compared to a net profit of $31.8 million in 2011. Adjusted earnings were $41.8 million, down from $71.5 million in the previous year.
The company is forecasting revenues of $18.1 million in the first quarter of 2013 and adjusted earnings between a loss of $2.2 million and breakeven.
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