First-quarter revenue at Gemstar-TV Guide International Inc. dropped 13% to
$227.9 million, while the interactive-programming-guide vendor narrowed its net
loss slightly to $45.4 million.
The company reported negative cash flow of $8.4 million for the quarter,
which it blamed on declines in TV Guide magazine circulation and
Superstar/Netlink subscriber and conversion revenues, in addition to hefty legal
and corporate costs and a decline in licensing revenue from Thomson Consumer
Revenue at Gemstar's cable and satellite segment dropped more than $20
million to $85 million.