WASHINGTON (dpa-AFX) - Rovi Corp. (ROVI) reported that its third-quarter GAAP net loss was $13.3 million or $0.13 per share, compared to GAAP net income of $1.8 million or $0.02 per share in the third quarter of 2011. The company posted loss in latest-quarter primarily due to a reduction in revenues from the company's consumer electronics customers.
Non-GAAP Adjusted Pro Forma Income was $51.5 million in the third quarter of 2012 compared to $69.0 million in the third quarter of 2011. Adjusted Pro Forma Income Per Common Share for the third quarter of 2012 was $0.50, compared to $0.62 for the third quarter of 2011.
GAAP revenues were $169.6 million, down from $181.9 million for the third quarter of 2011.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.38 per share on revenues of $161.09 million for the quarter. Analysts' estimates typically exclude special items.
The company repurchased approximately 6 million shares of its common stock during the third quarter for approximately $90 million. The company now has approximately $223 million remaining in its existing share repurchase authorization.
The company now anticipates fiscal year 2012 revenue of between $660 million and $670 million, and adjusted pro forma income per common share of between $1.80 and $1.90. Analysts expect the company to report earnings of $1.74 per share on revenues of $661.60 million for fiscal 2012.
ROVI closed Thursday's regular trading at $14.34, up $0.81 or 5.99%. In the after-hours, the stock is further up $2.46 or 17.15%.
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