Wi-LAN posts comparatively weak second

Wi-LAN Inc. posts a relatively unimpressive Q2, after a bonanza licensing deal with Finnish Nokia helped the intellectual property licenser realize almost $50 million in revenue and just under $29 million in profits for its previous quarter. WiLan.jpgRevenue was only $75,000, though that represents a gain over the same period last year, when the company had no revenue. Net loss improved from $5.2 million to $2.3 million ($.03 a share). “Despite modest second quarter revenues, I’m pleased with the progress we’ve continued to make on a number of fronts to strengthen and grow our position as a patent licensing powerhouse,” says CEO Jim Skippen, who has moved the company from a Wi-LAN product firm to an IP licenser in the year since it relocated to Ottawa from Calgary. “We added new senior staff and board members who are well versed in patent licensing, and raised $40 million to pursue more aggressively the many opportunities ahead of us.”

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