Rentrak Narrows Q3 Loss7 Feb, 2013 By: Erik Gruenwedel
Rentrak Corp. Feb. 7 reported third-quarter (ended Dec. 31) net loss of $1.8 million, a 5.3% improvement from a net loss of $1.9 million during the previous-year period. The loss was attributed largely to $1.5 million in stock-based compensation.
The Portland, Ore.-based company’s posted revenue of $24.9 million, up 12% from revenue of $22.2 million last year. For a second consecutive quarter, media measurement business topped Rentrak’s trademark disc rental revenue-sharing business, generating $13.7 million in revenue compared with $11.2 million for disc.
The home entertainment segment, whereby Rentrak manages major studio disc shipments to independent video stores, generated $11.8 million in revenue during the same period last year.
CEO Bill Livek said he expects disc rev-share business in the current fourth quarter to decline less than the 5% in the third quarter. In fact, Livek said he was encouraged by the performance of home entertainment.
“Much better than anticipated results in home entertainment resulted from our team’s continued success in extending the life cycle of this business through a variety of initiatives,” Livek said in a statement.