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Gemstar swings to Q4 loss on charges

Fri, 02/15/2008 - 7:44am
Brian Santo

As it prepares to be acquired by MacrovisionGemstar-TV Guide International reported that increased Q4 revenues were offset by rising costs, with a net result of a relatively slight quarterly loss.

The company’s Q4 revenues were $627.7 million, up from $571.3 million in the fourth quarter of 2006. The company said its growth was largely driven by a 28 percent increase in its Guidance Technology and Solutions segment – its interactive program guide (IPG) business. The loss was $1.5 million.

Charges that contributed to the loss included $12.4 million related to a national brand campaign, depreciation charges of $10.7 million, and a $4.2 million charge as part of the auction that led to Macrovision winning the right to acquire Gemstar-TV Guide for $2.7 billion.

The company said that the combination of cable and satellite subscribers worldwide receiving a licensed or company-provided IPG grew to 75.6 million at the end of 2007, a 29 percent increase versus year-end 2006.

More Broadband Direct:

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• CMC releases ‘HITS Broadband’ service 

• Harmonic serves up more bandwidth with new DWDM transmitter 

• Nielsen buys Audience Analytics 

• Vecima’s Q2 sales hit high mark 

• Nielsen study: 13M households not ready for digital transition

• Gemstar swings to Q4 loss on charges 

• Broadband Briefs for 2/15/08

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