Mosaid posts Q4 profit narrows to $7.2M; revenue up 10 per cent at $21.9M

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OTTAWA - Mosaid Technologies Inc. saw net income narrow in the fourth quarter in spite of a 10 per cent increase in revenue, nevertheless posted record results for the year in the aggregate.

The full year

For the full year, earnings rose 13 per cent to $80.5 million from $71.1 million in fiscal 2010, during net income of $34.6 million was as well up 13 per cent from the prior year's $30.5 million. Pro forma diluted EPS was $2.89 compared with $2.87 in fiscal 2010.

"I'm very proud to report that we achieved the highest levels of earnings and pro forma net income in our 36-year history, making fiscal 2011 a banner year for our company," said president and CEO John Lindgren.

The strength

"Our record financial results demonstrate the strength and sustainability of the company's intellectual property licensing and technology business."

Looking ahead, Lindgren said Mosaid's goal is to achieve higher rates of revenue growth by increasing investments in high-quality patents, establishing new licensing programs and "through the vigorous defence of our intellectual property rights."

The complaint on May 17

Mosaid filed the complaint on May 17, asserting that six of its patents are infringed by certain Cisco products, including Power over Ethernet switches and routers, Digital Subscriber Line or DSL wireless access points, cable modem wireless access points, PoE Internet Protocol phones and cable modems with Voice over IP.

Mosaid said its patents relate primarily to Power over Ethernet, a research for wired Ethernet local area networks that allows electrical current to be carried over data cables to put it more exactly than over electrical power cords.

"Two additional points: 1. Most of the people in Vancouver appeared to be looky-loos getting in the way and taking phonecam pictures of themselves posing ..."