Rovi Posts $10.7 Million Loss9 Aug, 2011 By: Chris Tribbey
Digital entertainment technology company Rovi Corp. posted a second-quarter loss of $10.7 million Aug. 9, blaming the poor performance on restructuring and costs related to the disposal of its BD+ business.
During the same quarter in 2010 Rovi posted a profit of $41.2 million.
“We are pleased with our progress in 2011 and the continued success across our business,” said Rovi president and CEO Fred Amoroso. “We have made excellent progress, and we look forward to achieving our goals and objectives through the balance of the year.”
Earnings for the quarter were $193 million, up from $176.7 million during the same quarter in 2010.
James Budge, CFO for Rovi, said earnings per share for full year 2011 should hit between $2.35 and $2.60.