Macrovision profits up 65% in 2nd qtr.

Acquisition expected to help company access new technologies

Macrovision Corp. on Monday said its second quarter profits rose 65% to $2.2 million, over $1.3 million a year ago, while revenues were up to $8 million, a gain of 42% for the period. The results were driven by its acquisition of C-Dilla Ltd. and the signing of Microsoft and gamemaker Electronic Arts as clients of its copyright protection software.

During the period, ended June 30, the Sunnyvale, Calif.-based company acquired the remaining outstanding shares in C-Dilla for $12.3 million in cash and 109,200 shares of Macrovision stock. Including the $3.6 million Macrovision paid for its initial stake in C-Dilla in 1998, total acquisition is valued at $21.5 million.

The acquisition is expected to give the company access to new technologies to help protect audio, software and data distributed via the Internet.

“We’re very pleased with our second quarter results,” said Bill Krepick, Macrovision’s prexy and chief operating officer. “The homevideo industry continued on a high note for the company with increased levels of revenue from all three product groups, videocassette, DVD and digital PPV.”

Separately, Vic Viegas, the company’s chief financial officer, said he will resign Aug. 1 to join an Internet start-up company.

Macrovision was up $1.44 to close at $76.06, a gain of 2%.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety