Little known Pasadena, California-based multi-media start-up Gemstar International Group Ltd, was billed as the number one technology stock pick-up at Hambrecht & Quist annual Technology conference in San Francisco yesterday. Gemstar, which announced fiscal 97 earnings per share of $0.89 cents last month, is in for a meteoric financial rise, according to H&Q which forecast its earnings would jump a massive 41 cents to $1.30 by the time the company’s fiscal 98 comes around. The intellectual property monopoly Gemstar has on this market, coupled with a deal with Microsoft for WebTV, and an agreement to incorporate its interactive program guide, G-Guide, into Japanese consumer electronics goods, would be the main factors to spur stock growth, H&Q said. Gemstar’s main product is VCR Plus+ which is designed to enable VCR users to automatically program their machines with one-to eight-digit codes published in TV program listings worldwide. Alongside main competitors, Direct TV and Prevue the company has been quietly producing simple electronic TV program guides for the last couple of years. CEO, Henry Yuen, started this now 45 employee strong outfit after becoming frustrated over recording snow one night instead of a Red Sox game. Gemstar reported revenues up 33.1 % to $71.1m for fiscal 97 in March.
