Gemstar-TV Guide International reported large net loss of $126.2 ...
Gemstar-TV Guide International reported large net loss of $126.2 million for 4th quarter ended Dec. 31 despite huge surge in revenue to $358.1 million and in operating cash flow to $112.3 million. Company credited revenue and cash flow gains…
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to its takeover of TV Guide last year and its own internal growth. But Gemstar, which had $23.1 million profit in 4th quarter 1999, also blamed TV Guide for its big loss, citing $227.5 million in amortization costs for intangible assets from acquisition. It said revenue rose sharply for its technology and licensing unit, interactive platform division and media and services sector as more cable operators installed its interactive programming guide (IPG) in subscriber homes. Company said its IPG now was in more than 10 million households, up from 8.5 million in Nov.