Rovi Q3 Loss Narrows; Cuts FY13 Outlook

(RTTNews) - Rovi Corp. (ROVI) Wednesday said third-quarter net loss was $11.5 million or $0.12 per share, narrower than $13.3 million or $0.13 per share in the same period last year.

Adjusted pro-forma income for the quarter was $40.6 million or $0.41 per share, down from $57.8 million, or $0.56 per share in the prior year quarter. On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.48 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues totaled $142.96 million, down from $163.68 million last year. Analysts expected revenues of $151.93 million.

For the fiscal year 2013, Rovi currently expects pro-forma earnings in the range of $1.70 to $2.00 per share and revenues of $585 million to $615 million.

Earlier, the company expected pro-forma earnings of $1.80 to $2.10 per share and revenues of $600 million and $630 million.

Analysts currently expect the company to report full-year earnings of $1.95 per share on revenues of $613.63 million.