Rovi Corporation Reports Third Quarter Financial Performance
finance.yahoo.com
"We completed another excellent quarter, growing revenue by 21% in Q3 2010, when compared to Q3 2009, and growing our profit measures 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 expanding business for TotalGuide, expanding our licensing program, growing advertising revenues, and for the first time since the Gemstar acquisition, cash and investments net of debt is positive."
"Given the strength of our performance in the first nine months of 2010, we are raising and narrowing our revenue and earnings estimates for the remainder of 2010," added James Budge, Chief Financial Officer of Rovi. "We now expect our 2010 revenue estimates to range between $530 and $540 million and our 2010 Adjusted Pro Forma Income Per Common Share to be in a range between $2.00 and $2.10." |
