Rovi Corporation (NASDAQ:ROVI) in the third quarter as profit dropped from a year earlier. Net income for Rovi Corporation fell to $1.8 million (2 cents per share) vs. $36.4 million (33 cents per share) a year earlier. This is a decline of 95.2% from the year earlier quarter. Revenue rose 42.4% to $196.5 million from the year earlier quarter. ROVI reported adjusted net income of 63 cents per share. By that measure, the company beat the mean estimate of 46 cents per share. Analysts were expecting revenue of $197.9 million.
“We are pleased with our progress in 2011 and the continued success across our business.” said Fred Amoroso, President and CEO of Rovi.
Competitors to Watch: Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL), TiVo Inc. (NASDAQ:TIVO), News Corporation (NASDAQ:NWSA), HSW International, Inc. (NASDAQ:HSWI), Martha Stewart Living Omnimedia, Inc. (NYSE:MSO), Meredith Corporation (NYSE:MDP), PRIMEDIA Inc. (NYSE:PRM), and Barnes & Noble, Inc. (NYSE:BKS).
Diodes Incorporated (NASDAQ:DIOD) reported its results for the third quarter. Net income for Diodes Incorporated fell to $10 million (21 cents per share) vs. $21.2 million (46 cents per share) a year earlier. This is a decline of 52.9% from the year earlier quarter. Revenue fell 1.6% to $160.6 million from the year earlier quarter. DIOD reported adjusted net income of 26 cents per share. By that measure, the company fell short of mean estimate of 34 cents per share. It fell short of the average revenue estimate of $164.5 million.
sults, Dr. Keh-Shew Lu, President and Chief Executive Officer of Diodes Incorporated, stated, “We continued to see broad weakness across global markets that began in May and accelerated throughout the third quarter. Despite this softness, we were still able to execute our strategy of gaining market share by shifting our product mix to lower margin products to best utilize our installed capacity, and we grew our nine month revenue 10 percent over the prior year period. In response to these market conditions, we have also implemented cost reduction actions that include the delay of capital investments, hiring freezes, a reduction in factory overtime, as well as temporary reductions on travel.”
Competitors to Watch: ON Semiconductor Corp. (NASDAQ:ONNN), Fairchild Semicond. Intl. (NYSE:FCS), Alpha and Omega Semicond. Ltd (NASDAQ:AOSL), Microsemi Corporation (NASDAQ:MSCC), Vishay Intertechnology (NYSE:VSH), IXYS Corporation (NASDAQ:IXYS), Texas Instruments Inc. (NYSE:TXN), Intel Corp. (NASDAQ:INTC), Intl. Rectifier Corp. (NYSE:IRF), Infineon Tech. AG (IFNNY), and National Semicond. Corp. (NYSE:NSM).
Neutral Tandem, Inc.’s (NASDAQ:TNDM) profit declined in the third quarter. Net income for Neutral Tandem, Inc. fell to $5.8 million (18 cents per share) vs. $9.6 million (29 cents per share) a year earlier. This is a decline of 39.3% from the year earlier quarter. Revenue rose 44.9% to $67.3 million from the year earlier quarter. TNDM fell short of the mean analyst estimate of 24 cents per share. Analysts were expecting revenue of $66.6 million.
“We continue to be pleased with the overall performance of the Company, especially the progress we have made in developing our new service offerings to take advantage of our all IP Global MPLS network,” said Ed Evans, Chief Executive Officer of Neutral Tandem. “As projected last quarter, we still expect to be at the high end of the full-year revenue projections for the year. I believe this performance is largely attributable to our ability to diversify our service offerings and become a leading provider of global interconnection services. As global economic conditions continue to fluctuate, we remain focused at executing on our business plan as well as building a platform for future growth that will appeal to customers worldwide.”
Competitors to Watch: AT&T Inc. (NYSE:T), CenturyLink, Inc. (NYSE:CTL), Verizon Communications Inc. (NYSE:VZ), AboveNet, Inc. (NYSE:ABVT), Windstream Corporation (NASDAQ:WIN), Consolidated Communications Hldgs. Inc (NASDAQ:CNSL), Xfone, Inc. (AMEX:XFN), and Sprint Nextel (NYSE:S).