Rovi Corp. (ROVI) Tops Q4 EPS by 3c

Rovi Corp. (NASDAQ: ROVI) reported Q4 EPS of $0.44, $0.03 better than the analyst estimate of $0.41. Revenue for the quarter came in at $134.2 million versus the consensus estimate of $132.6 million.

Rovi Corp. sees FY2015 revenue of $535-565 million, versus the consensus of $555.5 million.

“I am pleased to announce better-than-expected results, above the mid-point of our initial and raised estimates for the year and for the quarter. During the fourth quarter, Rovi made progress on a number of initiatives to fuel future growth, including renewing and expanding a number of IP licensing agreements, deploying Rovi guides, and acquiring Fanhattan to advance our cloud-based discovery initiatives. We also expanded our metadata business, and signed up a major cable network for a pilot of our cloud-based advertising analytics platform,” said Tom Carson, President and CEO of Rovi. “Throughout the year, we funded investments in strategic growth areas through continued cost reductions and rationalization of legacy products. Looking ahead, we will continue to take a disciplined approach, and remove costs from the business as appropriate, as we invest in strategic growth areas. Based on the upcoming big-four intellectual property license renewals and demand for our growing portfolio of discovery and analytics products and services, we expect double-digit revenue growth with expanding margins in both 2016 and 2017.”

For earnings history and earnings-related data on Rovi Corp. (ROVI) click here.

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