Rovi Adjusts 2012 Guidance on Division Sale

Rovi has put its Entertainment Store division up for sale, the company announced in an official press release. It has retained an advisor to help in the effort. It did not specify a price or any terms of the sale.

As a consequence, Rovi will account the division's operations as discontinued starting with its 4Q and full-year 2012 results. The firm now expects fiscal 2012 non-GAAP revenues will be $645 million-$650 million, and earnings will amount to $2.05-$2.10. Previously, the company had anticipated $660 million-$670 million and $1.80-$1.90, respectively.

The company took in revenues of $166 million, and netted a profit of $0.56 per share in 3Q.

The article Rovi Adjusts 2012 Guidance on Division Sale originally appeared on Fool.com.

Eric Volkman has no positions in Rovi. The Motley Fool has no positions in Rovi. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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