Rovi Corp. (ROVI: Quote) announced after the bell Tuesday that it expects revenues for the second quarter to be approximately $158 million, down from $179 million last year. Non-GAAP adjusted pro forma income per common share for the second quarter is expected to be between $0.35 and $0.38.
Rovi also lowered its expectations for adjusted pro forma revenue for the full year 2012 to between $650 million and $680 million and lowered its expectations for full year adjusted pro forma income per common share to between $1.60 and $1.90.
Rovi has gapped open sharply lower Wednesday and is now down 7.02 at $10.63 on strong volume. The stock has been on a downward trend since late February and has plunged to a new low for the year.
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by RTT Staff Writer
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