Macrovision (NSDQ: MVSN), which recently announced plans to sell its software business, has reported Q4 revenue of $45.2 million, up 23 percent year-over-year from $36.6 million on a continuing basis. Net income fell to $9.2 million from $16.6 million. The company also announced that it has signed an agreement to sell its games business (which is the Trymedia games DRM business it bought in 2005 for $34 million), though it hasn’t specified a price or a buyer. On a non-continuing basis, which includes the software and games businesses, Macrovision did revenue of $78.7 million, compared to $74.1 million. Looking at the difference between total revenue and continuing revenue indicates that together, the games and software businesses fell from $37.5 million in quarterly revenue to $33.5 million. Of course, the company is still pursuing its challenged acquisition of Gemstar-TV Guide, and the recent divestitures, it says, are about letting it focus on digital media enablement. The sale of the games business is expected to be completed by April 1.

Release | Webcast (5:00 PM ET)

Conference call: On the call, the company disclosed a meager $4 million price tag on the games business, though they didn’t offer up a buyer. This unit was in pretty rough shape, having lost $14 million in 2007, with losses anticipated to be in a similar range in 2008. That represents a pretty significant loss. Much of the call was a chance for management to keep explaining its vision, and how its various acquisitions and disposals fit into it. At one point, an analyst expressed bewilderment at all the moving parts, and asked for a “menu” to help understand the business.

• Earnings: Gemstar-TV Guide Q4 Revs Up 7 Percent; Media Networks Slips
• Macrovision Sells Software Business Unit To Thoma Cressey Bravo For $200 Million In Cash
• Macrovision Buys DRM Rival Trymedia For $34 Million