ROVI disappoints...

Shares of electronic television programming guide vendor Rovi are down sharply on a disappointing financial outlook.

For Q3, the company posted revenue of $196.5 million, up from $138 million a year ago, but a bit below the Street consensus at $197.9 million. Pro forma profits of 63 cents a share topped the Street consensus at 61 cents.

The issue for the stock was the guidance the company provided on the call. For starters, the company now sees full year results at the lower end of its previous guidance ranges of revenues of $770 million to $810 million, and profits of $2.35 to $2.60. Rovi also said on its conference call that it sees revenue in 2012 increasing in the mid-to-high single digit range, well below the 15.5% growth that the Street has been forecasting.