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Losses widened at Gemstar-TV Guide International (GMST) , thanks to a write-off at TV Guide magazine.

For the third quarter ended Sept. 30, the publisher and interactive programming guide operator reported a net loss of $98.3 million, or 23 cents per share, compared with the year-earlier loss of $18.1 million, or 4 cents per share.

Analysts had expected a break-even quarter.

The loss included a $131.6 million impairment charge eliminating the remaining goodwill and intangible assets of

TV Guide


Ignoring the writeoff and stock compensation, Gemstar reported adjusted earnings before interest, taxes, depreciation and amortization of $9.1 million in the quarter, compared with an adjusted EBITDA loss of $17.5 million one year earlier. Analysts surveyed by Thomson First Call had forecast EBITDA of $6.9 million.

Revenue amounted to $175.1 million in the quarter, up from the year-ago figure of $165.1 million but just short of the five-analyst consensus of $177 million.

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Shares fell 32 cents after hours Tuesday to $5.65.

"While the challenges in our publishing division continue and our legal costs remain significant, we are encouraged by positive momentum in a number of our businesses," CEO Jeff Shell said in a statment. "In particular, we are pleased to report advertising revenue growth at TV Guide Channel, increased licensing and distribution revenues in our TV Guide Interactive business, and strong performance at TVG Network."

Revenue at the company's publishing segment declined 11% to $90.6 million, with circulation and advertising revenue at

TV Guide

falling a total of $12.5 million from the third quarter of 2003. Adjusted EBITDA of the publishing business went from a $9.6 million loss a year ago to a loss of $2.4 million in this year's third quarter, thanks in part to the absence of $14.4 million in 2003 relaunch expenses not incurred in the most recent quarter.

Cable and satellite revenue grew to $61.5 million in the third quarter, up from $39.1 million in the corresponding quarter one year earlier. Most of the increase came from growth in subscriber, licensing and advertising revenue at TV Guide Interactive. Adjusted EBITDA grew from $9.3 million to $21.2 million.

In June, Gemstar settled

Securities and Exchange Commission

charges related to its past revenue recognition and financial reporting practices. In September, the company announced approval of an agreement to settle shareholder class-action lawsuits.