05.130.2011 - Rovi Corporation Reports First Quarter Financial Performance

Rovi Corporation (NASDAQ: ROVI) announced today that it had first quarter 2011 GAAP revenues of $161.5 million, compared to $129.4 million for the first quarter of 2010. First quarter 2011 GAAP net income was $17.0 million, compared to $68.1 million for the first quarter of 2010. In 2010, the first quarter included a $108.5 million tax benefit primarily as a result of entering into a closing agreement with the Internal Revenue Service related to the 2008 sale of the TV Guide Magazine business. There was no comparable benefit in 2011. GAAP diluted net income per common share for the first quarter of 2011 was $0.15, compared to net income per common share of $0.64 for the first quarter of 2010. - View Press Release - Visit Rovi Corporation