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Rovi Corp (ROVI) Issues FY13 Outlook; Revs Lighter than Views

January 9, 2013 5:20 PM EST Send to a Friend
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On January 9, 2013, at an investor presentation in Las Vegas, Nevada, Rovi Corporation (Nasdaq: ROVI) will present a corporate overview and financial update, which presentation includes the Company's previously-disclosed financial estimates for 2012, the Company's financial estimates for 2013 and certain additional information. The presentation was announced by a widely disseminated press release and will be made available to the public via audio webcast, and the slides that accompany the presentation will be available to the public at the time of the webcast through the Company's website.

During the presentation, the Company will present 2013 estimates of $630 million to $660 million in revenue and $1.90 to $2.20 in adjusted pro forma (“APF”) earnings per share (“EPS”). The Company will present the 2013 estimates both by sales vertical as well as by strategic area of focus.

*** The Street consensus calls for revs of $683.8 million and EPS of $2.13.

During the presentation, the Company will also present information about revenue from its IP Licensing business, including that the Company had IP Licensing revenue of $253 million in 2010 and $302 million in 2011. The Company will also present that at the midpoint of the Company's estimates for revenue for 2012 (previously disclosed on January 3, 2013) and for 2013, the Company estimates it will have IP Licensing revenue of approximately $274 million in 2012 and approximately $315 million in 2013. Additionally, the Company will present that licensing costs associated with such IP Licensing revenue was $29 million in 2010 and $38 million in 2011. The Company will also present that at the midpoint of the Company's estimates for APF EPS for 2012 (previously disclosed on January 3, 2013) and for 2013, the Company estimates IP Licensing costs will be approximately $56 million in each of 2012 and 2013.

During the presentation, the Company will also present information that it estimates only a nominal growth in cost structure (the combination of APF cost of goods sold (“COGS”) and APF total operating costs (“OpEx”)) from 2012 to 2013. In the presentation, based upon the aforementioned APF EPS midpoints, the Company estimates 2012 APF COGS will be approximately $107 million and 2012 APF OpEx will be approximately $247 million (for a total of approximately $354 million) and 2013 APF COGS will be approximately $96.5 million and 2013 APF OpEx will be approximately $260 million (for a total of approximately $356.5 million).




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