Gemstar swings to Q4 loss on charges
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: