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Roxio Posts Greater Earnings for Quarter

May 22, 2003|From Reuters

Software company Roxio Inc. reported a larger profit for its fiscal fourth quarter and said it expects a profit in the current quarter, excluding its pending acquisition of an online digital music service.

Santa Clara, Calif.-based Roxio reported a net profit for the March quarter of $2.3 million, or 12 cents a share, compared with a year-earlier profit of $340,000, or 2 cents.

Analysts surveyed by Thomson First Call expected a profit of 19 cents.

For the June quarter, Roxio said it expects revenue of $23 million, with earnings of 5 cents a share, excluding the potential accounting effect of the acquisition of Pressplay. Analysts on average expect earnings of 7 cents, within a range of a 9-cent loss to a 17-cent profit.

Roxio shares fell 75 cents to $7.26 on Nasdaq.

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