Aug 4 (Reuters) - Technology licensing company WiLan Inc’s quarterly profit narrowly beat market expectations as new license agreements pushed up revenue, and the company backed its full-year outlook.
For April-June, the company earned $10.3 million, or 8 cents a share, versus a loss of $5.6 million, or 5 cents a share, a year ago.
Adjusted earnings were 17 cents a share, just above analysts’ forecast of 16 cents a share, according to Thomson Reuters I/B/E/S.
Revenue more than doubled to $27.4 million.
WiLan, which develops and licenses intellectual property for products in the communications and consumer electronics markets, backed its full-year revenue forecast of $110-$115 million, and expects adjusted earnings of $75-$80 million.
Shares of the company closed at C$8.15 on Wednesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Sriraj Kalluvila)