 |
MOSAID Licenses its Patent Portfolio for Use in Portable Media Players
OTTAWA, Ontario, Canada – March 16, 2006 - MOSAID Technologies Incorporated (TSX: MSD) today announced that it has licensed its patent portfolio for a five-year term for use in Application Specific Integrated Circuits (ASICs) employed in portable media players, such as MP3 players. Under the terms of the agreement, MOSAID has granted the licensee a license, with the exclusive right to sublicense, solely for ASICs used in portable media applications. The licensee will pay MOSAID a license fee and also share all revenues generated through any such sublicenses. In addition, the licensee has purchased 25 MOSAID issued patents. Further details regarding this licensing agreement will be provided in a subsequent news release, on or before MOSAID's fiscal year-end conference call in June. It is expected that the license and patent sale will result in increased revenues and profits in Q1 of MOSAID's next fiscal year. Therefore, MOSAID is resetting guidance for fiscal 2007. Revenues for fiscal 2007 are now expected to range between $77 to $82 million with net earnings between $19.5 to $21.5 million. About MOSAID
|
| |||||||||||||||||
