Interactive program guide technology vendor Rovi (Nasdaq: ROVI) said it renewed licensing deals with 32 cable MSOs in the fourth quarter, and that 11 cable operators have deployed its new TotalGuide IPG.
Rovi generated $79.354 million in revenue from selling IPGs and patent licenses to cable operators in the fourth quarter, an increase of about $6.5 million compared to the fourth quarter of 2011. The company, which owns the IPG patent portfolio developed by Gemstar TV Guide, has licensing deals with most pay TV distributors, including Comcast (Nasdaq: CMCSA), Time Warner Cable (NYSE: TWC) and DirecTV (Nasdaq: DTV).
CFO Peter Halt told analysts on the company's earnings call that its service provider revenue increased by $2.7 million compared to the third quarter of 2011, which he attributed to subscriber growth and increased advertising revenue.
But declines in revenue from consumer electronics firms saw Rovi's total revenue decline by more than $17 million compared to the fourth quarter of 2011. It posted $157 million in revenue and net income of $47.9 million (48 cents per share), down from $70.6 million (65 cents per share) in the fourth quarter of 2011.
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- see transcript from earnings call
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