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Gemstar-TV Guide to Restate Results Again; Revenues Down $111 Million

Authored by Mark Hefflinger on March 10, 2003 - 6:14am.
Pasadena, Calif. -- Gemstar-TV Guide International, a provider of electronic program guide listings for digital television services, announced on Monday that it will once again restate its earnings in conjunction with an ongoing internal accounting review -- this time cutting revenue figures by $111 million. The company previously reported that it was investigating its accounting practices, and that revenues from a licensing agreement with a set-top box manufacturer and several advertising agreements were reported before actually being received. Pasadena-based Gemstar is also under formal investigation by the U.S. Securities and Exchange Commission (SEC). http://biz.yahoo.com/bw/030310/105361_1.html
http://www.gemstartvguide.com
tags: Gemstar | Gemstar-TV | digital television |



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