Earnings: DivX Q4 Revs Up 47 Percent; $3.5 Million in Stage6 Costs
This story was written by Joseph Weisenthal.
Digital encoding firm DivX (NSDQ: DIVX) announced Q4 revenues of $24.5 million, a 47 percent year-over-year increase from $16.7 million in the year-ago period. Net income went the other way, narrowing to $3.7 million ($.11 per share) from $7.4 million ($.21 per share). However, the company said it took about $3.5 million in Stage6 operating costs, which came off of the bottom line. It's also projecting another $4 milllion in costs in the current quarter associated with the video sharing site, which has now been shut down. The release makes no mention of the controversies surrounding the site shutdown or the offer to buy the site from Brad Greenspan's LiveUniverse. Release.
By Joseph Weisenthal