United States : TiVo NET EARNINGS in a NEW RECORD [TendersInfo (India)]
(TendersInfo (India) Via Acquire Media NewsEdge) Recent settlements with Cisco and Motorola have strengthened TiVo net earnings to a new record. Net income soared to $268.9 million in its fiscal second quarter, versus $27.7 million loss. Net revenues were up to $100 million from $65 million in the previous period.
When fully realized on its books, litigation with Cisco and Motorola will bring a total $490 million. Including other patent litigations, TiVo has garnered about $1.6 billion in damages and future consideration. TiVo added 238,000 net customers as cable operator gains from Atlantic Broadband, Cable One, Com Hem, GCI, Midcontinent, and Mediacom, now totaling 3.6 million. It had 2.7 million as of its last second-quarter results.
TiVo s chief executive officer Tom Rogers says the company's current MSO strategy has brought in almost 1 million new TiVo subscriptions. Revenue from multiple system cable operators (MSOs) increased 58% in the second quarter.
In future, TiVo expects a settling of its financial results, expecting third-quarter revenues to be in the range of $80 million to $82 million, with net income of between $6 million to $8 million. TiVo is counting on its new Roamio DVR machine, which has received strong early sales.
Rogers says, "Apple TV gets a lot of play, Roku gets a lot of play, Sling, Google TV, Chromecast, we look at that and look at the set-top box and look at DVR. We think we're the only product out there that embraces everything they do in a single solution.
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