Network-1 Technologies, Inc. - NTIP STOCK NEWS

Network-1 Technologies (NTIP) reported significant financial results for Q3 2021, showcasing revenue of $17 million for the quarter and $35.7 million for the nine months, contrasting sharply with $4.15 million and $4.37 million in the same periods of 2020.

The revenue surge was primarily attributed to a $17 million litigation settlement with Hewlett Packard and $18.7 million from a resolution with Cisco Systems. The net income soared to $6.6 million or $0.28 per share for Q3 2021, versus $1.7 million or $0.07 per share in Q3 2020.

For the nine months, net income reached $15.3 million or $0.63 per share, compared to a net loss in 2020.

Network-1 Technologies (NTIP) announced a semi-annual cash dividend of $0.05 per share, payable on September 30, 2021, to stockholders of record as of September 21, 2021. This move reflects the Board's ongoing review of its dividend policy, which may change based on earnings and financial needs. Network-1 focuses on the development and monetization of its intellectual property, owning 87 patents related to telecommunications and data technologies. The company has generated over $170 million in licensing revenue through its Remote Power Patent.

Network-1 Technologies, Inc. (NTIP) reported its financial results for Q2 2021, revealing no revenue for the quarter but total revenue of $18.7 million for the first half, significantly up from $55,000 in Q2 2020. The revenue surge is attributed to a settlement with Cisco over licensing disputes. Despite a net loss of $783,000 for Q2 2021, the company achieved a net income of $8.7 million for the first half, an improvement from a net loss of $1.9 million in the same period last year. Network-1 maintains a strong cash position of $53.8 million.

Network-1 Technologies, Inc. (NYSE American: NTIP) announced the issuance of U.S. Patent No. 11,082,218, enhancing its M2M/IoT Patent Portfolio to thirty issued U.S. patents. This patent focuses on a module for machine-to-machine communication, crucial for embedded SIM card technology in IoT devices.

Acquired in December 2017, the M2M/IoT Patent Portfolio includes six pending U.S. applications and extends its patent terms to 2033-2034. Network-1 aims to continue expanding this portfolio and capitalizing on licensing opportunities.

Network-1 Technologies (NYSE MKT:NTIP) has settled its patent litigation with Hewlett-Packard and Hewlett-Packard Enterprise for $17 million. The lawsuit, filed in the Eastern District of Texas, involved Network-1's Remote Power Patent (U.S. Patent No. 6,218,930), which pertains to Power over Ethernet (PoE) products. HP will receive a fully paid license for the patent, which expired on March 7, 2020. This settlement enhances Network-1's revenue, which has exceeded $170 million from licensing the Remote Power Patent since 2007.

Network-1 Technologies (NTIP) announced the granting of several patents enhancing its M2M/IoT Patent Portfolio. The European Patent Office granted European Patent No. EP3111689 for an embedded universal integrated circuit card supporting two-factor authentication. Additionally, the UK Intellectual Property Office indicated intentions to grant two other applications related to machine-to-machine communications. With 29 US patents and several foreign applications, the portfolio is expected to remain active until 2033-2034.

Network-1 Technologies (NTIP) has announced an extension of its share repurchase program, allowing for the repurchase of up to $5 million in common stock over the next two years. Since the program's inception in 2011, the company has repurchased over 8.6 million shares at an average price of $1.88 per share, costing approximately $16.29 million. The Board believes this move reflects the company's strong cash position and aims to enhance shareholder value without affecting future plans.

Network-1 Technologies announced impressive financial results for the quarter ended March 31, 2021, with revenue of $18.69 million, a significant increase from just $161,000 in the same quarter of 2020. This growth is attributed to a favorable resolution of a contractual dispute with Cisco regarding the Remote Power Patent. The company reported a net income of $9.45 million, compared to a net loss of $1.34 million a year earlier. Network-1 maintains a strong liquidity position with cash and marketable securities of $41.27 million.

A trial against Hewlett-Packard is set for August 2, 2021.

Network-1 Technologies (NTIP) reported a revenue increase of 45% to $4.4 million for 2020, attributed primarily to a $4.15 million litigation settlement. The company had a net loss of $1.7 million, consistent with the previous year's loss. As of year-end, liquidity stood at $44.87 million in cash and securities, adequate to support operations. Recent legal victories include a favorable ruling against Hewlett-Packard and an $18.69 million settlement with Cisco. Additionally, Network-1 made a $6 million investment in ILiAD Biotechnologies and has ongoing patent litigation involving Google and Facebook.