Gemstar Swings to Profit After Narrowing Losses
From Bloomberg News
Gemstar-TV Guide International Inc., the biggest supplier of software for cable television program guides, reported a second-quarter profit of $14.6 million after narrowing losses at its namesake magazine.
Los Angeles-based Gemstar’s net income of 3 cents a share was in contrast to a loss of $5.11 million, or 1 cent, a year earlier. Sales fell 16% to $133.3 million from $158.3 million.
Shares of Gemstar fell 12 cents to $2.65.
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