Welcome to our dedicated page for QUARTERHILL news (Ticker: QTRHF), a resource for investors and traders seeking the latest updates and insights on QUARTERHILL stock.
Quarterhill Inc. focuses on the acquisition and management of technology companies that provide products and services globally. Their technology licensing segment includes patents related to various technologies such as 3D television, semiconductor manufacturing, medical stent, LED lighting, and more. The company's intelligent systems segment offers integrated systems and solutions for automated truck weigh stations, toll road systems, traffic management, and vehicle information systems. Quarterhill aims for global leadership in the Intelligent Transportation System industry through organic growth and strategic acquisitions.
Quarterhill's subsidiary, International Road Dynamics (IRD), has successfully delivered its 250th non-intrusive bicycle sensor system across various European countries including the Netherlands, Belgium, France, Italy, Portugal, and the UK. The TMA-3B3 sensors enable accurate counts of individual cyclists and integrate with cloud-based analytics to enhance urban mobility and safety. At Intertraffic Amsterdam 2022, IRD will introduce its self-contained 'Totem' bicycle counter, simplifying installation for municipalities and supporting eco-friendly transportation initiatives.
Quarterhill's subsidiary, WiLAN, has announced a new patent licensing agreement with Apple, settling all ongoing litigation across the U.S., Canada, and Germany. The specific terms of this agreement are confidential. WiLAN is recognized as a leading patent monetization company, focusing on various tech sectors, including automotive and wireless communication. Quarterhill aims for global leadership in Intelligent Transportation Systems (ITS) and actively pursues growth through acquisitions and organic expansion.
Quarterhill reported $125.7 million in consolidated revenue for the year ended December 31, 2021, down from $144.5 million in the previous year. Adjusted EBITDA for Fiscal 2021 was $5.0 million, significantly lower than $31.2 million in 2020. The company made key acquisitions in the Intelligent Transportation Systems (ITS) sector, enhancing its market position. Cash and equivalents stood at $72.6 million, reflecting acquisition investments. A quarterly dividend of $0.0125 per share was declared, payable April 8, 2022.
Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) will release its financial results for the three- and twelve-month periods ended December 31, 2021, on March 21, 2022, a day earlier than initially planned. The company's President and CEO, Bret Kidd, and Interim CFO, Steve Thompson, will discuss the results during a conference call at 10:00 a.m. ET on the same day. Quarterhill is focused on becoming a leader in the Intelligent Transportation System (ITS) industry, leveraging its subsidiaries and pursuing strategic acquisitions.
Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) announces its virtual Annual Meeting of shareholders (AGM) on April 21, 2022, at 9:30 a.m. EDT, due to COVID-19 safety concerns. Shareholders can participate online and vote electronically. The company is adopting a Board Tenure Policy, limiting director tenure to 12 years, with Rusty Lewis and Pamela Steer standing for election alongside current directors. A notice package will be sent on March 17, 2022, containing details of the AGM and how to vote. Meeting materials are available on SEDAR and the Quarterhill website.
Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) has declared a quarterly dividend of $0.0125 per common share, payable on April 8, 2022. Shareholders of record will be determined at the close of business on March 18, 2022. Quarterhill focuses on providing tolling and enforcement solutions in the Intelligent Transportation System (ITS) sector and aims for global leadership through organic growth and strategic acquisitions in ITS and related markets.
Quarterhill Inc. (OTCQX: QTRHF) has announced that its auditor, Ernst & Young LLP, has requested additional time to complete the audit of its financial statements for the year ended December 31, 2021, due to staffing issues. Consequently, the company will now release its financial results on March 22, 2022. A conference call will follow at 10:00 a.m. ET the same day. Quarterhill aims for growth in the Intelligent Transportation System sector through strategic acquisitions and development of its subsidiaries, including Wi-LAN Inc.
Quarterhill Inc. (TSX: QTRH; OTCQX: QTRHF) has announced the hiring of Stout as a financial advisor for its WiLAN strategic review process, initiated on December 15, 2021. Stout, a global investment bank with extensive experience in intellectual property transactions, will assist in evaluating strategic alternatives for WiLAN, including potential asset sales, acquisitions, and changes to corporate structure. This review aims to enhance WiLAN's operational model, but there are no guarantees of completing any transaction.
International Road Dynamics Inc. (IRD), a subsidiary of Quarterhill (QTRHF), has secured a four-year Quantity Purchase Agreement with the Indiana Department of Transportation (INDOT) valued at over $5.5 million. This agreement allows for unlimited Quantity Purchase Awards and covers the provision of electronic equipment, software, and services to enhance existing Weigh-in-Motion (WIM) systems. IRD aims to deliver high-accuracy traffic data to support planning and compliance for INDOT. The partnership reinforces IRD's commitment to expanding its service offerings in the Intelligent Transportation Systems sector.
Quarterhill Inc. (TSX: QTRH, OTCQX: QTRHF) appointed Mr. Rusty Lewis to its Board of Directors on March 3, 2022. With extensive experience in the Intelligent Transportation Systems (ITS) sector, Lewis is expected to guide the company through its transformation into a pure-play ITS business. He previously led Syntonic Technology, which became Transcore, and held senior positions at various notable firms. The company anticipates additional board changes at the annual shareholder meeting scheduled for April 21, 2022.