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Rovi Corporation Reports First Quarter 2013 Financial Performance

Stocks in this article: ROVI

During the quarter, the Company repurchased 2.2 million shares of its stock for $42.1 million, and since March 31, 2013, the Company has repurchased approximately 800,000 additional shares of its stock for approximately $17.1 million.

Business Outlook

Rovi continues to anticipate fiscal year 2013 revenue of between $630 million and $660 million, and is increasing its expectations for fiscal year 2013 Adjusted Pro Forma Income Per Common Share from $1.90 - $2.20 to $1.95 -$2.25.

Conference Call Information

Rovi management will host a conference call today, May 1, 2013, at 2:00 p.m. PT / 5:00 p.m. ET to discuss the financial results. Investors and analysts interested in participating in the conference are welcome to call 1-800-762-8779 (or international +1-480-629-9645) and reference the Rovi call. The conference call can also be accessed via live webcast in the Investor Relations section of Rovi's website at http://www.rovicorp.com/.

A telephonic replay of the conference call will be available through May 3, 2013 and can be accessed by calling 1-800-406-7325 (or international +1-303-590-3030) and entering access code 4612637#. A replay of the audio webcast will be available on Rovi Corporation's website approximately 1-2 hours after the live webcast ends and will remain on Rovi Corporation's website until its next quarterly earnings call.

Non-GAAP or Adjusted Pro Forma Information

Rovi Corporation provides non-GAAP Adjusted Pro Forma information. References to Adjusted Pro Forma information are references to non-GAAP pro forma measures. The Company provides Adjusted Pro Forma information to assist investors in assessing its current and future operations in the way that its management evaluates those operations. Adjusted Pro Forma Income and Adjusted Pro Forma Income Per Common Share are supplemental measures of the Company's performance that are not required by, and are not presented in accordance with GAAP. Adjusted Pro Forma information is not a substitute for any performance measure derived in accordance with GAAP, including, but not limited to, GAAP pro forma information prepared in accordance with ASC 805, Business Combinations.

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