Thu, Oct. 29, 10:07 AM
- On its earnings call (transcript), ROVI attributed its Q3 miss to the end of a licensing contract with an unnamed major consumer electronics manufacturer. The company insists it's "engaged in productive licensing discussions" with the manufacturer, and is on track to have it back under license by year's end.
- Rovi is reiterating full-year guidance for revenue of $500M-$530M and EPS of $1.35-$1.60; consensus is at $513.9M and $1.50. However, the company adds the low end of the revenue guidance range assumes it renews its license with the consumer electronics manufacturer. "To reach the midpoint or upper end of this range we must close one or more of the licensing deals we mentioned last quarter that we are currently actively negotiating."
- Separately, Variety reports Rovi's Fan TV content-discovery app/video search engine unit has discontinued its Fan TV set-top, originally launched in 2013. “We’ll be transitioning folks to our recently launched Android TV app over the next four weeks," says Fan TV founder Gilles BianRosa.
- Rovi has tumbled to fresh multi-year lows.
- Q3 results, PR
Wed, Oct. 28, 4:22 PM
Tue, Oct. 27, 5:35 PM
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Fri, Jul. 31, 3:16 PM
- In addition to missing Q2 revenue estimates (while posting in-line EPS), ROVI has guided for 2015 revenue of $500M-$530M and EPS of $1.35-$1.60, below a consensus of $546.6M and $1.70. The low end of the guidance range assumes no new/one-time revenue sources, something Rovi considers "unlikely."
- The company plans to spend $50M on buybacks in Q3. Following today's selloff to new 52-week lows, that $50M should go further. Shares trade for 7.6x the midpoint of Rovi's 2015 EPS guidance range.
- Q2 results, PR
Thu, Jul. 30, 4:15 PM
Thu, Apr. 30, 4:16 PM
Thu, Feb. 19, 4:18 PM
Wed, Feb. 18, 5:35 PM
Wed, Jan. 7, 5:51 PM
- Ahead of its analyst day presentation, ROVI has respectively narrowed its 2014 revenue and EPS guidance ranges to $538M-$542M and $1.69-$1.73 from $530M-$545M and $1.60-$1.75. Consensus is at $539.7M and $1.71. (8-K)
- 2015 guidance is for revenue of $535M-$565M and EPS of $1.55-$1.85; consensus is at $555.3M and $1.87. Rovi plans to buy back 5M shares in 2015; at current levels, that would cost $110M.
- Earlier today, Rovi announced a programming guide deal with U.S. broadband provider Suddenlink (covers digital terminal adapters). The company has been showing off a new UI, natural language search/navigation tools, and its content Knowledge Graph at CES.
Nov. 6, 2014, 4:20 PM
Jul. 30, 2014, 4:46 PM
Apr. 30, 2014, 4:11 PM
Feb. 12, 2014, 4:12 PM
Feb. 12, 2014, 12:10 AM
Feb. 11, 2014, 5:35 PM
Jan. 8, 2014, 6:09 PM
- After deciding to sell its Entertainment Store and consumer website businesses last July, ROVI has now decided to unload its DivX video codec licensing business. The company suggests the business, which has been pressured by the growing popularity of various alternative codecs, was good for 2013 revenue of $70M-$75M, and EPS of $0.25-$0.30. (8-K)
- Rovi now expects 2013 revenue and EPS to be at the high end of the guidance ranges it claims would have been provided in October, had the DivX unit then been treated as a discontinued operation.
- Not counting DivX, Rovi expects 2014 revenue of $510M-$550M and EPS of $1.55-$1.85; the consensus (includes DivX) is at $619M and $1.98. Rovi's IP licensing business is expected to see revenue of $283M, down from 2013's $293M. Cost of goods sold is expected to fall to $78M from $82.5M, and opex is expected to rise to $220.2M from $218.5M.
- Rovi also discloses it bought back 4.2M shares in Q4, and paid down $200M in debt.
- Shares are down AH after rising 2.9% in regular trading, gradually paring the early gains they saw in response to news of several licensing deals.
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