E. Digital Corp. Reports Q1 Results for FY2015Monday, August 18, 2014
E. Digital Corp., a technology developer and licensor for consumer products, reported fiscal 2015 first quarter revenue of about $683,000, compared with $449,000 for the like quarter of the prior year.
Net income for the quarter was $30,000, compared with a net loss of about $71,000 for the like quarter of last year.
The most recent quarter included $632,500 of patent license revenue compared with $392,000 for the first quarter of the prior year.
CEO Fred Falk said the company entered into eight new licensing agreements as a result of lawsuits filed in December against manufacturers and suppliers of Flash memory storage devices.
In addition, the company filed its first Nunchi enforcement lawsuit, and it is “looking at other potential infringers.”
Shares of E.Digital, traded on the Over the Counter Bulletin Board under the ticker EDIG, were at 4 cents Aug. 18, and have ranged from 3 cents to 10 cents over the past 52 weeks.