Earnings: Gemstar-TV Guide Q3 Revs Rise 7 Percent; Income Cut in Half on Higher Costs
By Joseph Weisenthal - Thu 01 Nov 2007 01:07 PM PST
Gemstar-TV Guide has announced Q3 revenues of $159.6 million, a 7 percent increase over last year’s $148.9 million. Excluding a one-time $115 million gain, the company earned $8.2 million, down 53 percent from last year’s $17.5 million. The company cited an increase in marketing costs at the TV Guide Network as well as a large consumer marketing push across all platforms for the decline. Some highlights:
-- Guidance Technology and Solutions: Segment revenue grew 20 percent to $68.3 million. Patent licensing agreements with BSkyB (NYSE: BSY) and Sky Italia were major contributors to the increase.
-- Media Networks: Revenues grew 4 percent to $50.6 million, thanks to 84 percent growth at Online Networks and flat revenue at the TV Guide Network.
-- Publishing: Lower subscriber revenue and a shorter quarter pushed segment revenue down 6 percent to $40.6 million, which is still 25 percent of the total business. Losses were partially offset by increased ad pages and better newsstand revenue.
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