Earnings: Gemstar-TV Guide Q2 Profits Up 42 Percent; Revs Rise 17 Percent

If there’s a sale, this should help prospective buyers consider the company more favorably: Gemstar-TV Guide (Nasdaq: GMST) reported a 42 percent rise in Q2 profits, which came in $20.8 million, or $0.05 per share, compared with Q206’s $14.6 million, or $0.03 per share. The company also posted an increase of 63 percent in Q2 operating income of $24.7 million, compared with operating income of $15.2 million last year. Revenues were up 17 percent to $155.6 million for the quarter.
Earlier this month, the programming guide company said it was considering a number of strategic initiatives to maximize shareholder value, including the possibility of a sale. Other highlights from the quarter included:
— Revenue for the Guidance and Technology Solutions unit was up 39.5 percent to $70.6 million from $50.6 million in Q206.
— Media networks’ Q2 revenue grew a slight 3.5 percent to $49.9 million from $48.2 million. Revenue was driven by a 3 percent increase at TV Guide Network, and a 42 percent rise at Online Networks.
— For the first half of the year, the company posted a net income gain of 138 percent to $55.2 million, or $0.13 per share, compared with net income of $23.2 million, or $0.05 per share. Revenues for that same period were $312.3 million, an increase of $35 million, or 13 percent, over the first of 2006’s $277.3 million. Earnings release | Webcast
Updated: In its 10-Q filed with SEC, some basic details on its online networks and the revenues: its online network has five sites: tvguide.com, jumptheshark.com, tv-now.com, tvshowsondvd.com and fansofrealitytv.com. For Q2, the network had revenues of $3.24 million, up from $2.3 million in the year-ago quarter.