For the second consecutive quarter, Gemstar-TV Guide‘s interactive television channels helped narrow company’s losses, although revenues dipped on continued erosion in magazine subscriptions and ad revenues.
Gemstar, publisher of TV Guide, reported an earnings loss of $3.75 million compared with a loss of $39.8 million in the first quarter of 2004. Revenues declined from $193.2 million to $175.4 million.
Los Angeles-based company said results reflected $1 million in prelaunch costs for women-centric Inside TV. Also, company made certain settlements with electronics manufacturers.
Company said the downturn in magazine ad revenues for TV Guide reflected softer ad buys from the pharmaceutical industry and broadcast television networks.
Gemstar’s cable and satellite TV program guide division saw a 54% jump in revenues compared with the first quarter of 2004 on the strength of higher licensing revenues at TV Guide Interactive and higher ad revenues at TV Guide Channel.
Gemstar-TV Guide shares closed down 13¢ Thursday to close at $3.87, a dip of 3.25%.