Rentrak Doubles Q3 Profit3 Feb, 2009 By: Erik Gruenwedel
Favorable tax benefits and returns helped Rentrak Corp. report third-quarter (ended Dec. 31, 2008) net income of $1.2 million, compared to net income of $547,000 during the prior-year period.
The Portland, Ore.-based data-tracking company said its Advanced Media Information division grew revenue 20.1%, to $3.2 million, from $2.7 million the previous year.
Highlights included signing Rentrak’s first satellite provider, Dish Network, and mobile data tracking agreement with NBC Universal for the studio/network’s video, downloads, text messaging, and game content earmarked for cell phones and other handheld devices.
Rentrak’s primary pay-per-transaction (PPT) DVD rental revenue fell 7.1%, to $19.7 million from $21.2 million, due to fewer revenue-sharing rental transactions.
Total revenue topped $22.9 million, compared to $23.8 million the previous year.
“Our third-quarter results remained stable, although we were not immune to the challenges presented by a difficult economic environment,” said CEO Paul Rosenbaum in a statement.