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Tuesday, Jul 17
2012, 4:49 PM
Rovi (ROVI) -27.5% AH after warning it expects Q2 revenue of $158M and EPS of $0.35-$0.38, well...
Rovi (ROVI) -27.5% AH after warning it expects Q2 revenue of $158M and EPS of $0.35-$0.38, well below a consensus of $182.6M and $0.57. The company also now expects 2012 revenue and EPS guidance to $650M-$680M and $1.60-$1.90, below a consensus of $765.2M and $2.51. Rovi blames delays in securing patent licenses and launching new products, as well as weakness in electronics and ad spending. It thinks pending litigation will need to be settled before some companies agree to licenses.