Rovi Q1 Profit Beats Estimates - Quick Facts

(RTTNews) - Rovi Corporation (ROVI) reported first-quarter income from continuing operations, net of tax, of $1.7 million, compared to a net loss of $0.9 million for the first quarter of 2013. Income per share from continuing operations was $0.02, compared to a loss of $0.01, prior year. Net loss per share was $0.57, compared to a loss of $0.26, a year ago.

On a non-GAAP basis, adjusted pro forma income was $42.1 million, or $0.45 per share, for the quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.43 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $142.5 million, from $132.8 million. Analysts expected revenue of $133.22 million for the quarter.

Rovi now anticipates fiscal 2014 revenue of between $520 million and $550 million, and, after adjusting expectations for the Veveo acquisition, fiscal year 2014 adjusted pro forma income share of $1.50-$1.80. Analysts expect the company to report 2014 profit per share of $1.73 on revenue of $532.53 million.