SUNNYVALE, Calif. (Reuters) - Technology provider Macrovision Corp. on Monday reported a 90 percent increase in third quarter earnings, beating analysts' forecasts due to strong sales of its copy protection products.
The Sunnyvale, Calif.-based company, a provider of rights management, copyright protection and other technology for DVDs and pay-per-view shows, said it earned $8.9 million, or 17 cents per share, in the quarter, before one-time expenses, vs. $4.7 million, or 10 cents per share, in the same quarter one year ago.
Financial analysts had expected the company to earn 12 cents per share, according to a consensus of estimates compiled by investment research firm, First Call/Thomson Financial.
Quarterly revenues jumped to $20.4 million, a 48 percent increase from $13.8 million one year ago.
The company traded at $65-15/16 at closing Monday, down $9-2/16 from Friday's close of $75-1/16.