CEO Jim Skippen said 2012, which saw shares of Wi-LAN languish, was a necessary setup for the future.
“The sustainable growth of the company’s business demands a disciplined licensing strategy and one that focuses on reaching the right agreements for the company over the long term,” he said. “We reached agreements with eight companies in 2012 that are expected to generate significant future revenues.”
Those investors who prefer actions over words got that too, recently. New filings show that Skippen yesterday continued what has become a frequent habit of his; he bought shares of Wi-LAN in the open market.
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On March 11th, Skippen bought another 10,000 shares at prices ranging from $4.87 to $4.90.
Skippen was joined in December by various company insiders, including CFO Michael (Shaun) McEwan, and COO Michael Vladescu, who bought 5,100 shares of Wi-LAN at $4.69 on December 14th. That same day, insider John Kendall Gillberry bought 5000 shares at $4.71. William Keith Jenkins also bought 5000 shares at various prices. The day before, Wi-LAN’s Vice President, Corporate Legal & Corporate Secretary Prashant Watchmaker picked up a thousand shares at $4.56.
Industrial Alliance Securities analyst Al Nagaraj says because of the lack of upfront fees from major licensing deals, 2012 was really a transition year for Wi-LAN. But he says 2013 is shaping up to be better because the company has legal actions pending against major companies such as Apple, HP, Dell, and Toshiba.Nagaraj currently has a BUY rating and $7.70 target on Wi-LAN.
At press time, shares of Wi-LAN on the TSX were down 1.2% to $4.77.