QUARTERHILL INC - QTRHF STOCK NEWS

Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF) reported Q1 2021 financial results, showing consolidated revenue of $19.3 million, a decrease from $21.6 million in Q1 2020. Adjusted EBITDA was ($0.4) million, down from $0.2 million year-over-year. Despite the challenges of COVID-19, both IRD and WiLAN generated positive Adjusted EBITDA of $1.4 million and $1.2 million, respectively. The company held $132.0 million in cash and equivalents. Notably, the board declared a quarterly dividend of $0.0125 per common share. The company is actively pursuing M&A, having acquired Sensor Line and VDS GmbH.

Quarterhill has acquired VDS Verkehrstechnik GmbH, a German provider of Intelligent Transportation Systems, for approximately $2.8 million. This acquisition will enhance International Road Dynamics' (IRD) capabilities in traffic monitoring and enforcement, particularly with their radar-based devices that are compliant with new regulations in Germany. Expected synergies could generate about $5.0 million in revenue and $600,000 in Adjusted EBITDA annually. The integration with Sensor Line GmbH aims to leverage a 20-year partnership for further technology development.

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) will announce its financial results for Q1 2021 on May 6, 2021. The results will cover the three-month period ending March 31, 2021. A conference call featuring President and CEO Paul Hill and CFO John Rim will take place at 10:00 a.m. EST the same day. Interested parties can access the call via a live audio webcast and find accompanying presentation slides on the company's investor relations website.

Quarterhill announced the election of all management nominees as directors at its April 14, 2021, annual meeting. Roxanne Anderson received 93.05% support, while Dr. Michel Tewfik Fattouche led with 97.42%. The meeting also confirmed Ernst & Young LLP as auditors, gaining 97.52% approval, and endorsed the 2018 Equity Incentive Plan with 85.78% support. Quarterhill focuses on the Intelligent Transportation System industry and intellectual property licensing, aiming to become a global leader.

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) announces its Annual General Meeting (AGM) set for April 14, 2021, at 9:30 a.m. EDT. Shareholders can vote prior to the meeting via online, phone, or by mail. Voting instructions and details are available in the Management Information Circular sent on March 18, 2021. Shareholders can listen to the AGM via an audio webcast. Questions can be submitted in advance to ir@quarterhill.com. For assistance, shareholders can contact Kingsdale Advisors.

International Road Dynamics (IRD) has partnered with the National Research Council (NRC) and University of Manitoba (UM) to establish a transportation data vault aimed at enhancing highway infrastructure in Canada's prairie and northern regions. This initiative seeks to improve decision-making related to infrastructure development and emergency response through advanced data analytics and AI. Over five years, a mobile traffic and weather monitoring system will collect data, addressing challenges posed by the region's sparse and seasonal road network. NRC's AI-driven analysis will help mitigate risks such as flooding and extreme weather impacts.

International Road Dynamics has received a five-year Maintenance and Upgrade contract from the New York State Department of Transportation, valued at up to $13.0 million. This contract involves the installation and management of traffic data collection sites in Metro New York City and Long Island, aimed at enhancing infrastructure performance and planning. IRD boasts over 25,000 traffic data systems globally and has a longstanding relationship with NYSDOT, having provided services for over 20 years.

Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) will hold its Annual General Meeting (AGM) virtually on April 14, 2021, at 9:30 a.m. EDT. The decision for a virtual-only format was made due to COVID-19 safety concerns. Meeting materials were mailed on March 18, 2021, and shareholders must submit their proxy votes by April 12, 2021. The AGM will be accessible via audio webcast, and shareholders can submit questions in advance. Quarterhill focuses on the Intelligent Transportation System (ITS) sector and aims to grow through strategic investments.

Quarterhill reported its financial results for Q4 and Fiscal 2020, with total revenue of $144.5 million, down from $172.9 million in Fiscal 2019. Q4 revenue was $18.1 million compared to $48.3 million the previous year. Adjusted EBITDA for Fiscal 2020 was $31.2 million, down from $48.5 million in 2019. Cash generated from operations rose to $35.2 million, with cash reserves of $141.3 million. The company successfully launched an M&A strategy, acquiring Sensor Line GmbH, and returned capital to shareholders through dividends.