UPDATE 2-Macrovision profit up, says options probe over

(Recasts, adds share price)

SAN FRANCISCO, Feb 13 (Reuters) - Macrovision Corp. (MVSN.O) reported on Tuesday that quarterly profit more than tripled and said federal authorities have ended their probes of the software maker's stock option grant practices, boosting shares 4 percent.

Fourth-quarter profit rose to $16.6 million, or 31 cents per share, from $4.5 million, or 9 cents per share, a year earlier.

Excluding items the company reported profit of 43 cents per share, a penny above analysts' average estimate according to Reuters Estimates.

The company, whose software prevents the copying of movies and digital programming, also said the U.S. attorney's office has withdrawn its subpoena issued in connection with a review of Macrovision's stock option grant practices.

Since the Securities & Exchange Commission had earlier terminated its probe without recommending enforcement action be taken, the company said, it believed its work on the matter with regard to both agencies was completed.

Revenue during the quarter rose to $74.1 million from $61.0 million, helped by strong demand for new licenses and increased services revenue.

That was above analysts' average expectation of about $73.2 million according to Reuters Estimates.

For the current quarter, the company said it expects earnings per share before items in the range of 20 cents to 24 cents and revenue from $63 million to $66 million.

For full-year 2007, it pegged earnings per share before items at $1.22 to $1.30 with revenue of $280 million to $290 million.

The Wall Street view was earnings per share before items of 29 cents and revenue of $65.7 million for the first quarter and earnings per share of $1.34 and revenue of $285.8 million for the full year.

Macrovision shares rose $1.03, or 4.1 percent, to $26.45 in extended trade after the earnings report. They had fallen 1 cent to $25.42 in regular trade on Nasdaq on Tuesday.