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Gemstar-TV Guide Sees Its Cash Flow Jump 30%

November 14, 2000|From Bloomberg News

Gemstar-TV Guide International Inc., the largest distributor of software for interactive television-program guides, said fiscal second-quarter cash flow rose 30% on higher sales of its products.

Cash flow--or earnings before interest, taxes, depreciation, amortization and stock compensation costs--rose to $99 million in the quarter ended Sept. 30 from $76.3 million in the year-earlier period.

The company did not provide a net income figure in a news release distributed by Business Wire, and figures are adjusted for the purchase of TV Guide Inc. Sales fell 1% to $337.7 million from a year earlier and revenue from investments declined 17% to $98.2 million.

The TV Guide purchase, completed July 12, made Gemstar the largest distributor of software to help viewers find TV programs by category, time and date on digital interactive TV, which has hundreds of channels and lets people play games and select camera angles.

Pasadena-based Gemstar also sells VCR-Plus software and electronic books and publishes TV Guide, one of the country's largest-circulation weekly magazines.

Gemstar shares, which have fallen 23% this year, fell $3.44 to $54.69 on Nasdaq.

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