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Macrovision Revenues Up, Profits Down

26 Feb, 2002 By: Holly J. Wagner

Copy protection provider Macrovision Corp. today reported revenues of $27 million for the fourth quarter of 2001, up $24.8 million in the fourth quarter of 2000 for an increase of 9 percent, but the company's profits still dipped.

Profits were down to $4.1 million, or 8 cents per share, compared to $6 million, or 12 cents per share, in the year-earlier period.

Net revenues for last year were up to $98.8 million from $80.1 million for 2000, an increase of 23 percent,.but the company

"We are pleased with our fourth quarter results," said Ian Halifax, CFO at Macrovision. "Our revenues benefited from a strong holiday season for our DVD copy protection solution. The fourth quarter was important to us for a number of reasons, notably the announcement of license agreements with Hyperion, MathSoft and UbiSoft for our Safedisc technologies, new releases of our FLEXlm and GTlicensing products and the launch of our Macrosafe digital copy protection and content management platform. We remain comfortable with the 2002 earnings guidance we gave during our Dec. 12 conference call.

Halifax projected revenues for the first quarter of 2002 in the $20 million to $22 million range, full-year 2002 projections of $103 million to $108 million.

The company's copy protection technology has been used on more than 900 million DVDs, 3 billion videocassettes and 75 million digital set top boxes, the company stated.

The fourth quarter results reflect the inclusion of the operations of Globetrotter Software, Inc., which was acquired on Aug. 31, 2000.

Macrovision stock slid to $25.05 on Instinet from $25.68 after hours, from a close of $26.20 on the Nasdaq.

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