Gemstar TV Guide swung to a net loss of $123 million in the latest quarter from a $27 million profit a year earlier due to hefty amortization costs (about $226 million) associated with the Gemstar/TV Guide merger last year.
That deal, however, along with growth in Gemstar’s historic businesses, swelled revenue to $353 million from $84 million. Cash flow surged to $120 million from $57 million.
Pasadena-based company also announced it’s inked a deal to buy publicly traded specialty retailer SkyMall for about $47 million. It will buy each outstanding SkyMall share for $3 in cash and stock.
Revenue at Gemstar’s biggest unit, media and services, hit $258 million. Division oversees TV Guide magazines, the TV Guide Channel on cable and satellite systems, the TV Games Network, data transmission and a media sales group for the magazines, channels and IPG platform.
The technology and licensing segment, with revenue of $81 million, develops licenses and protects intellectual property and proprietary technologies.
The interactive platform sector derives revenue — $15 million last quarter — from advertising, interactive services and e-commerce on proprietary platforms like its IPG (interactive programming guide) platform.