SANTA CLARA, Calif. (AP) -- Shares of Rovi Corp. sank by nearly a quarter in after-hours trading on Tuesday after the TV listings data company issued a 2012 outlook that fell well short of Wall Street's expectations and preliminary second-quarter results that reflect lower revenue and a wider loss.
For 2012, the company anticipates that adjusted earnings per share will range from $1.60 to $1.90, and adjusted revenue will be between $650 million and $680 million. Analysts were expecting full-year adjusted earnings per share of $2.50 on $763.5 million in revenue, according to FactSet.
Among the negative factors behind the outlook: Delays in adding new patent licensees in key growth areas, including consumer electronics manufacturers. Rovi also cited delays in the launch of certain products and services, including the Rovi Entertainment Store, and lower-than-expected results for Rovi's online properties.
"We don't anticipate ultimately losing revenues as a result of these delays, and we continue to anticipate significant growth in our licensing business from 2011 to 2013," said Tom Carson, Rovi's president and CEO.
For the April-June quarter, Rovi expects revenue fell to $158 million from $179 million in the prior-year quarter. The decline was due to lower analog content protection revenues, fewer-than-expected licensed consumer electronic device manufacturers and a reduction in royalty bearing unit sales reported by device manufacturers.
The company also anticipates that its per-share loss from continuing operations for the quarter will range from 15 cents to 18 cents. Rovi had a loss of 6 cents per share in the same quarter last year.
Rovi will issue final results for the quarter on Aug. 2.
Its shares tumbled $4.35, or 24.7 percent, to $13.30 in aftermarket trading. The stock gained 10 cents to end the regular session at $17.65.