DivX Swings To Loss; Revenues Drop 32 Percent

Divx

Digital video technology firm DivX, in the middle of trying to shift from its DVD licensing business to other categories, such as set-top boxes and mobile phones, swung to a loss of $319,000 as revenues fell 32 percent to $16.6 million. Kevin Hell, DivX’s CEO, cited the company’s August acquisition of AnySource Media for $7.5 million, plus earnout, as evidence of its intentions to broaden its product offerings.

Earnings release | Webcast 4:30 PM ET)

3Q 2009 3Q 2008
EPS -$0.01 $0.16/td>
Net Income -$319,000 $5.3M
Revenue $16.6M $24.4M

Comments have been disabled for this post