raised its fourth-quarter guidance, saying it now expects operating income of 17 cents a share on revenue of $38 million. Wall Street was expecting 16 cents a share, according to Thomson Financial/First Call.
Previously, the company had been predicting 15 cents a share on revenue of $33 million.
The new forecast includes the acquisition of MGI Software, which will contribute about $25 million in revenue. The digital media company expects the acquisition to continue to add to operating earnings in 2003.
Shares of Roxio closed at $15.23 Friday on the