Technology

Gemstar Turns 1Q Profit

5/04/2006 10:22 AM Eastern

Gemstar-TV Guide International Inc. saw first-quarter revenue drop $20.1 million to $164.1 million, but the company reported $8.6 million (2 cents per share) in net income, topping the $4.4 million (1 cent) net loss it reported during the first quarter of 2005.

Revenue at its TV Guide Channel unit jumped 8%, while TV Guide Interactive revenue rose 10% and revenue from its TVG Network horse-racing channel jumped 24%.

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