Wi-Lan Inc. is reporting a drop in both revenue and profits in the third-quarter, citing the timing of licensing payments as a major reason for the decrease. The patent licensing firm says net income in the three months ended Sept. 30 was $2.2 million US or two cents per share, down from $7.3 million or six cents per share in the same year-earlier period. Revenue fell to $21.3 million from $27.8 million, although it exceeded the company's guidance of $19.9 million. Wi-lan said the year-over-year decrease in revenue was mainly because of the timing of fixed payment amounts in agreements signed in early 2011. -
