posted fourth-quarter earnings Tuesday that beat Wall Street's projections thanks to a strong holiday season and a solid performance by its recently-acquired
electronic licensing division.
The copy-protection and rights-management company said it earned $24.8 million, or 19 cents a share before items, up from $16.3 million, or 10 cents a share, in the year-ago period. Seven analysts polled by
First Call/Thomson Financial
were calling for the company to earn 17 cents in the quarter.
Shares of Macrovision, which is based in Sunnyvale, Calif., fell 94 cents, or 1.6%, to $58.06 in regular session
trading, and inched up to $58.25 in recent after-hours
"Our revenues benefited from a strong holiday season for our DVD copy protection solution, and continued solid performance from our newly acquired GLOBEtrotter division in our second quarter of combined operations," the company said in a statement.
The company said it remains "comfortable" with the 2001 guidance it gave in January. Revenues for the first quarter are expected to be between $20 million and $22 million and $105 million to $110 million for the full year. Analysts are expecting $108.09 million for the year. The company expects earnings of 15 cents to 16 cents in the first quarter, excluding charges, and 80 cents for the year. Analysts are calling for earnings of 16 cents in the first quarter and 81 cents for the year.