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Unwired Planet, Inc. Announces Third Quarter Fiscal 2015 Financial ResultsUnwired Planet, Inc. (NASDAQ: UPIP) today announced financial results for the third quarter of fiscal year 2015. Revenue for the third quarter ended March 31, 2015, was $1.3 million, while loss from continuing operations totaled $9.6 million. "The company continued on its planned course of investing in the realization of value in its patent portfolio," said Dean (Kip) Witter, interim chief financial officer. "Revenue and general and administrative expenses were flat compared to the prior quarter. Patent licensing expenses decreased by $1.2 million from the preceding quarter, a decline attributable to expected cycles of activity in the U.S.-based patent enforcement actions the company is undertaking, offset against an increase in activity in the company's European enforcement actions." During the quarter, the company announced the hiring of Boris Teksler as chief executive officer, effective June 1, 2015. Mr. Teksler joins Unwired Planet from Technicolor (News - Alert), and previously served as head of Apple Inc.'s Patent Licensing & Strategy. Philip Vachon, chairman of the board of directors, commented: "The business of licensing technology continues to be slow, absent litigation victories by Unwired Planet. Our cases in the United States and Europe are proceeding toward their respective conclusions. We are optimistic that Boris Teksler will bring new energy and approaches to realizing the value in the company's intellectual property assets." On a GAAP basis, net loss for the third quarter ended March 31, 2015, was $9.6 million, or $0.09 per share, compared with a net loss of $11.0 million, or $0.10 per share, in the second quarter ended December 31, 2014. Conference Call Information Unwired Planet has scheduled a conference call for 5:00 p.m. eastern daylight time today to discuss its financial results for its third quarter fiscal 2015. Interested parties may access the conference call over the Internet through the company's website at www.unwiredplanet.com or by telephone at 888-510-1765 or 719-325-2432 (international). A replay of the conference call will be available for one week (May 7), beginning at 5:00 p.m. PT on April 30 by calling 888-203-1112. The replay can be accessed internationally by calling 719-457-0820, access code: 7177660. A live webcast of the call, together with supplemental financial information, will also be available on the Investors section of Unwired Planet's website at http://www.unwiredplanet.com/investors. A replay will be available on the website for at least three months. About Unwired Planet Unwired Planet, Inc. (NASDAQ: UPIP) is the inventor of the Mobile Internet and a premier intellectual property company focused exclusively on the mobile industry. The company's patent portfolio of approximately 2,500 issued and pending US and foreign patents, includes technologies that allow mobile devices to connect to the Internet and enable mobile communications. The portfolio spans 2G, 3G, and 4G technologies, as well as cloud-based mobile applications and services. Unwired Planet's portfolio includes patents related to key mobile technologies, including baseband mobile communications, mobile browsers, mobile advertising, push notification technology, maps and location based services, mobile application stores, social networking, mobile gaming, and mobile search. Unwired Planet is headquartered in Reno, Nevada. References in this release to Unwired Planet may be to Unwired Planet, Inc. or its subsidiaries. Cautionary Note Regarding Forward Looking Statements Any statements in this press release with respect to future events or expectations, including statements regarding the Company's licensing activities and related recognition of revenue, litigation strategy and prospects and expectations regarding enhancing shareholder value are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1943 and Section 27A of the Securities Act of 1933. These forward-looking statements are subject to many risks and uncertainties that could cause actual results to differ materially from those projected. Notwithstanding changes that may occur with respect to matters relating to any forward looking statements, Unwired Planet assumes no obligation to update the forward-looking statements included in this press release. For a detailed discussion of these and other factors that may cause these forward looking statements not to come true, please refer to the risk factors discussed in Unwired Planet's filings with the U.S. Securities and Exchange Commission ("SEC (News - Alert)"), including the company's Annual Report on Form 10-K for the fiscal year ended June 30, 2014. These documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov or from Unwired Planet's website at www.unwiredplanet.com.
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