August 2, 2012 / 11:23 AM / 5 years ago

UPDATE 1-Wi-Lan posts loss on higher litigation costs

Aug 2 (Reuters) - Wi-Lan Inc , a Canadian patent licensing company, reported a second-quarter loss on higher litigation costs.

The company, whose principal source of revenue is from licensing its patent portfolio and licensing portfolios on behalf of third-party patent holders, said litigation expenses for more than doubled to $5.9 million for the quarter.

For the third-quarter, the company expects revenue of $19.9 million. On an adjusted basis, it expects earnings to be between $7.5 million and $9.5 million.

The company, whose peers include InterDigital Inc, Rambus Inc and Tessera Technologies Inc, increased its quarterly dividend by 16 percent to 3.5 Canadian cents per common share.

Net loss for the April-June quarter was $149,000, or break even on a per share basis, compared with a profit of $10.3 million, or 8 cents per share, a year earlier.

Total revenue fell 24 percent to $20.8 million.

Over the past five years the company has increased its patent portfolio from 20 patents to more than 3,000 issued or pending patents.

Shares of the Ottawa, Ontario-based company, which has a market value of $617.1 million, closed at C$5.10 on Wednesday on the Toronto Stock Exchange.

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