January 12, 2017 / 9:26 PM / 6 months ago

BRIEF-Telenav announces settlement of patent lawsuit

2 Min Read

Jan 12 (Reuters) - Telenav Inc :

* Telenav announces settlement of patent lawsuit

* Telenav inc says one-time settlement and license payment of $8 million to be made by Telenav

* Telenav inc says one-time settlement and license payment will have a material impact on Telenav's Q2 fiscal year 2017 financial results

* Telenav inc- payment for settlement will occur during january 2017

* Telenav - total revenue is expected to be $51 to $52 million as compared to previous guidance of $46 to $49 million for quarter ended December 31, 2016

* Gross margin is expected to be 44.5% as compared to previous guidance of 42% for the quarter ended december 31, 2016

* Telenav inc- net loss per share is expected to be $0.28 to $0.30 for quarter ended december 31, 2016

* Telenav inc says entered into a settlement and license agreement with vehicle ip, llc resolving vehicle ip, llc v. at&t mobility, llc

* Telenav inc says will not have any continuing obligations to make future settlement or license payments to vehicle ip

* Q3 earnings per share view $-0.17, revenue view $48.4 million -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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