Rovi Corporation (NASDAQ:ROVI), a provider of digital entertainment guides, plunged to record low since its initial public offering in 1997 after lowering its yearly sales anticipation amid holdups in adding fresh patent licensees.
Shares of Rovi plunged 43% to settle at $10.01 in New York and the company marked the major one day drop since its initial public offering. Shares of the company have fallen 28% current year.
Rovi mentioned delays in adding new licensees in key growth areas comprising consumer electronics manufacturers and the TV Everywhere field of use in the United States.
The corporation took legal action against three television manufacturers in May, claiming violation of patents for its technology and parental-control chips that obstruct television content.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Remark Media Inc (NASDAQ:MARK) rose +3.08% to settle at $2.67, Meredith Corporation (NYSE:MDP) moved up +0.48% to end at $33.62 while Martha Stewart Living Omnimedia, Inc (NYSE:MSO) plunged -2.06% to finish on Wednesday at $3.32.
Rovi Corporation (NASDAQ:ROVI) last session volume of 31.51 million shares was higher than its average volume of 1.22 million shares. The stock after opening at $11.84 hit high price of $11.85 and then closed at $10.01 by scoring -43.29%.
ROVI generated revenue of 713.06 million in the following twelve months and earned -$7.05 million. The Company showed a negative -0.99% in the net profit margin and as well as in its operating margin which remained 10.33%. Company’s annual sales growth for the past five year was 44.00%.
The ROVI past twelve months price to sales ratio was 1.56and price to cash ratio remained 1.22. As far as the returns are concern, the ROVI return on equity was recorded as -0.39% and dropped -0.22% return on investment while its return on asset stayed at -0.21%.
The stock showed weekly downbeat performance of -44.33% which was maintained for the month at -51.87%. Likewise the negative performance for the quarter was recorded as -66.04% and for the year was -82.45% while the YTD performance remained at -59.28%.
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