InterDigital, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported revenues of $75,079,000 compared to $97,325,000 a year ago. Income from operations was $12,920,000 compared to $40,875,000 a year ago. Loss before income taxes was $1,033,000 compared to income of $38,688,000 a year ago. Net income attributable to the company was $21,407,000 or $0.60 per diluted share compared to $35,536,000 or $1.00 per diluted share a year ago. Net cash provided by operating activities was $170,385,000 compared to $104,749,000 a year ago. Purchases of property, equipment, & technology licenses were $340,000 compared to $117,000 a year ago. Free cash inflow was $160,707,000 compared to $94,877,000 a year ago. These increases were primarily driven by collections under fixed-fee agreements, as well as a timing difference related to the third quarter 2018 collection of a $61.2 million tax refund from a foreign government that The company expects to remit to the U.S. government in fourth quarter 2018.

For the nine months, the company reported revenues of $232,078,000 compared to $327,634,000 a year ago. Income from operations was $58,750,000 compared to $155,791,000 a year ago. Income before income taxes was $33,614,000 compared to $148,460,000 a year ago. Net income attributable to the company was $62,038,000 or $1.74 per diluted share compared to $121,791,000 or $3.4 per diluted share a year ago. Net cash provided by operating activities was $176,617,000 compared to $98,341,000 a year ago. Purchases of property, equipment, & technology licenses were $1,882,000 compared to $942,000 a year ago. Free cash flow was $150,890,000 compared to $71,093,000 a year ago.

The company expects to report a negative effective tax rate for the full year, but expects its long-term tax rate will be in the range of approximately 14% to 15%. The effective tax rate reported in any given year will continue to be influenced by a variety of factors, including timing differences between the recognition of book and tax revenue, the level of pre-tax income or loss, the foreign versus domestic classification of the company's customers, and any discrete items that may occur.