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

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

“During the second quarter, we pressed forward with our licensing efforts, launched an enforcement action to protect our mobile payment patents, saw key dates set in previously existing litigation, and set the ground work for future licensing options,” said Eric Vetter, president and chief administrative officer of Unwired Planet. “While the licensing environment continues to be difficult, we are encouraged by our progress, as well as external market developments over the past three months. We continue to focus on pursuing a variety of licensing and alternative value creation strategies while closely managing our costs.”

On a GAAP basis, net loss for second fiscal quarter ended December 31, 2013 was $7.3 million, or $0.07 per share, compared with a net loss of $7.2 million, or $0.07 per share, in the prior quarter, and with a net loss of $11.6 million, or $0.13 per share, in the December quarter of the preceding year.

On a non-GAAP basis, net loss for the second fiscal quarter ended December 31, 2013 was $7.1 million, or $0.07 per share, compared with a net loss of $6.6 million, or $0.06 per share, in the prior quarter, and with a net loss of $6.1 million, or $0.07 per share, in the December 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 on a GAAP basis and 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 time today to discuss its financial results for its second 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 877-941-8416 or 480-629-9808 (international). A replay of the conference call will be available until February 20, 2014, beginning at 5:00 p.m. PT on January 30, 2014 by calling 800-406-7325. The replay can be accessed internationally by calling 303-590-3030, access code: 4663708#.

A live webcast of the call, together with supplemental financial information, will also be available on the Investors section of Unwired Planet’s website at http://www.unwiredplant.com/investors. A replay will be available on the website for at least three months.

About Unwired Planet

Unwired Planet, Inc. (NASDAQ: UPIP) is the inventor of the Mobile Internet and a premier intellectual property company focused exclusively on the mobile industry. The company's patent portfolio of approximately 2,600 issued and pending US and foreign patents, includes technologies that allow mobile devices to connect to the Internet and enable mobile communications. The portfolio spans 2G, 3G, and 4G technologies, as well as cloud-based mobile applications and services. Unwired Planet's portfolio includes patents related to key mobile technologies, including baseband mobile communications, mobile browsers, mobile advertising, push technology, maps and location based services, mobile application stores, social networking, mobile gaming, mobile payments, and mobile search, among others. Unwired Planet is headquartered in Reno, Nevada.

If you liked this article you might like

These 7 Stocks Under $10 Are Breaking Out

4 Stocks Under $10 Making Big Moves

Unwired Planet (UPIP) Downgraded From Hold to Sell

Here Are the 10 Best-Performing Technology Companies of 2014

5 Stocks Under $10 Set to Soar