Thursday, December 11, 2008
By Erik Gruenwedel | Posted: 07 Nov 2008
DVD copy protection software manufacturer Macrovision Nov. 7 said ongoing restructuring after the May acquisition of Gemstar and sales of several related businesses contributed to a 37% decline in net income for the third quarter, ended Sept. 30.
The Santa Clara, Calif.-based technology firm reported income of $8.8 million on revenue of $112.2 million, compared to profits of $14.1 million and revenue of $45.6 million during the prior-year period.
Company officials said revenue was positively impacted by the sales of its software and games divisions in April, and discontinued operations of TV Guide Magazine, TV Guide Network, TVG Network and related online businesses.