Rovi Corporation Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Earnings Guidance for the Fiscal Year 2016
For the six months, the company reported revenues of $243,629,000 against $261,845,000 a year ago. Operating income was $21,575,000 against $26,093,000 a year ago. Loss before income taxes was $18,440,000 against $2,916,000 a year ago. Loss from continuing operations, net of tax was $12,132,000 against $1,031,000 a year ago. Net loss was $27,060,000 against $12,132,000 a year ago. Diluted loss per share was $0.33 against $0.14 a year ago. Non-GAAP pre-tax income was $68,964,000 against $74,838,000 a year ago.
The company provided earnings guidance for the fiscal year 2016. The company continues to anticipate fiscal year 2016 revenue of $490 million to $520 million with GAAP loss before taxes of $21.3 million to $4.7 million and Non-GAAP pre-tax Income of $130.0 million to $156.0 million. The company anticipates it will incur $17.5 million to $18.5 million in cash taxes based on its 2016 operating expectations.