Change in patent filing trend: For FY17, IPH Ltd reported (ASX: IPH) an 11% yoy (year on year) growth in statutory Net Profit after Tax (NPAT) at $42.9m, that yields diluted earnings of 22.3c/share. The underlying NPAT for the year increased by 9% to $51.2m over the previous corresponding period. Excluding the impact of the further investment in the Data and Analytics software division, the diluted EPS grew by 8% on a statutory basis and 6% on an underlying basis. Underlying EBITDA increased by 10% on the corresponding period to $71.6M. However, the strengthening of the AUD relative to the USD in June led to the recognising of unrealised exchange losses on the revaluation of USD dominated cash and receivables balances of approximately $700k. IPH further stated that applying an AUD/USD exchange rate of 76.2c as provided with the company’s EBITDA guidance of $72M-$74M in November, the reported underlying EBITDA would have been more than $72m and within guidance range.