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Unwired Planet, Inc. Announces Fourth Quarter And Fiscal Year 2014 Financial Results

Unwired Planet, Inc. (NASDAQ: UPIP) today announced financial results for the fourth quarter and fiscal year 2014.

Revenue for the fourth quarter ended June 30, 2014 was $36.4 million, while operating income from continuing operations totaled $25.0 million. Revenue for the fiscal year ended June 30, 2014 was also $36.4 million, and operating income from continuing operations for the year totaled $3.4 million.

“The Lenovo transaction obviously had a significant positive impact for us in fiscal 2014. While it continues to be a tough licensing environment, we remain committed to pursuing licensing on a fair, reasonable and non-discriminatory basis,” said Eric Vetter, president and chief administrative officer of Unwired Planet.

On a GAAP basis, net income for the fourth fiscal quarter ended June 30, 2014 was $24.3 million, or $0.22 earnings per share, compared with a net loss of $8.7 million, or $0.09 per share, in the June quarter of the preceding year. Net income for the fiscal year ended June 30, 2014 was $0.4 million, compared to a net loss of $47.6 million, or $0.53 per share during the previous year.

On a non-GAAP basis, net income for the fourth fiscal quarter ended June 30, 2014 was $26.9 million, or $0.24 per share, compared with a net loss of $4.9 million, or $0.05 per share, in the June quarter of the preceding year. Non-GAAP net income for the fiscal year ended June 30, 2014 was $4.8 million, or $0.04 per share, compared with a net loss of $25.8 million, or $0.27 per share in the previous year. Non-GAAP net income/loss excludes restructuring, stock-based compensation, consultant stock-based compensation, strategic and post strategic costs, discontinued operations, and the tax impact of these items.

A reconciliation between net income/loss and net income/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.

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