TiVo Reports Profit for Q3

NEW YORK, November 26:
TiVo's earnings for its third quarter were boosted by a $105 million payment
from EchoStar
related to a patent-infringement suit, however revenue declined
for the DVR manufacturer.

TiVo
earned $100.6 million in the fiscal third quarter, compared to a loss of $8.2
million in the same quarter last year. Revenue declined almost 15 percent to
$64.5 million in the quarter. Subscription and technology revenue, excluding
hardware sales, fell 11 percent to $51.7 million.

The company
posted a net loss of 163,000 subscribers for the three months ended October 31,
including 135,000 subscribers through partners including DIRECTV and 28,000
TiVo-owned subscriptions. Total subscriptions at the end of the period were
3.46 million, down 15 percent from 4.07 million a year prior.

Looking
ahead for the fourth quarter, TiVo forecasts service and technology revenue in
the range of $47 million to $49 million and a loss of $10 million to $12
million.

"This
was another solid quarter for TiVo, our fifth straight of Adjusted EBITDA
profitability and we are well on our way to delivering our first Adjusted
EBITDA positive year," said Tom Rogers, the president and CEO of TiVo.

"Though
we are pleased with our results this quarter, we recognize that no business is
immune to the challenges of the current economic climate, which we expect will
impact overall consumer electronics sales during the holiday season. Like most
companies, we are taking steps to further reduce and more effectively manage
our spending across all areas of the company as evidenced by our recently
announced reduction in workforce in order to maintain our strong financial
position. We believe this will provide us the full runway to continue to pursue
our longer-term growth initiatives."

—By Kristin
Brzoznowski