Gemstar-TV Guide International Inc.’s third-quarter-2005 results were virtually flat compared with the year-ago period.
The company posted revenue of $171.6 million versus $174 million in the previous-year quarter.
The company’s operating loss was $4 million, which included stock-compensation, depreciation and amortization charges of $7.4 million. In the third quarter of 2004, Gemstar-TV Guide reported an operating loss of $137.9 million, which included stock-compensation, depreciation and amortization charges of $15.3 million, as well as a $131.6 million impairment charge related to the write-off of the remaining goodwill and intangible assets of its TV Guide magazine business.
“Last month, with the launch of a more compelling and relevant TV Guide magazine, we took a crucial step toward putting that business back on a path to profitability, while further strengthening Gemstar-TV Guide's position as the leader in television guidance,” CEO Richard Battista said in a prepared statement.
“In addition, TV Guide Channel saw continued ratings growth year-over-year, TVG Network turned in another period of very strong results and we appointed outstanding executives to key company-leadership positions,” he added.