Rovi Corporation Reports Second Quarter Financial Performance
finance.yahoo.com
SANTA CLARA, Calif., July 29, 2010 (GLOBE NEWSWIRE) -- Rovi Corporation (Nasdaq:ROVI - News) announced today that it had second quarter 2010 revenues of $134.8 million, compared to $119.5 million for the second quarter of 2009. Second quarter 2010 GAAP net income was $41.2 million, compared to a net loss of $2.1 million for the second quarter of 2009.
On a non-GAAP Adjusted Pro Forma basis, Adjusted Pro Forma Income was $57.6 million in the second quarter of 2010, compared to $39.0 million in the second quarter of 2009. Adjusted Pro Forma Income Per Common Share for the second quarter of 2010 was $0.55, compared to $0.38 for the second quarter of 2009. Adjusted Pro Forma Income and Adjusted Pro Forma Income Per Common Share are defined below, in the section entitled Non-GAAP or Adjusted Pro Forma Information. Reconciliations between GAAP pro forma and Adjusted Pro Forma results from operations are provided in the tables below.
"We completed another excellent quarter, growing revenue by 13% in Q2 2010, when compared to Q2 2009, and growing our profit by even more during the same period," said Fred Amoroso, President and CEO of Rovi. "In addition, we achieved a number of important business objectives, including winning additional business for TotalGuide, expanding our licensing program, growing advertising revenues, and continuing to retire debt."
"Given the strength of our performance in the first half of 2010, we are raising our estimates for annual Adjusted Pro Forma Income Per Common Share to a range of $1.90 to $2.10," added James Budge, Chief Financial Officer of Rovi. |
