TiVo Inc. (NASDAQ:TIVO) climbed to a profit in the fourth quarter on lower costs. Tivo is a provider of technology and services for digital video recorders.

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TiVo Earnings Cheat Sheet for the Fourth Quarter

Results: Reported a profit of $7.2 million (6 cents per diluted share) in the quarter. TiVo Inc. had a net loss of $34.4 million or a loss 30 cents per share in the year-earlier quarter.

Revenue: Rose 19.1% to $66.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: TiVo Inc. beat the mean analyst estimate of a loss of 25 cents per share. It beat the average revenue estimate of $50.8 million.

Quoting Management: Tom Rogers, President and CEO of TiVo, said, “This was a break-out year for TiVo on a number of fronts. First, we increased total net subscriptions by 234,000 in the fourth quarter, the highest quarterly increase in close to six years, which led to an increase in overall net subscriptions of 11% year-over-year and we expect this growth to continue. Second, we extended our leadership position in the advanced television space by substantially increasing the number of major domestic and international operators that TiVo is now deploying with, including Virgin Media, Charter, DIRECTV, ONO, Suddenlink, RCN, and Grande. Third, we proved that our intellectual property has significant value, as consideration from two settlements has now totaled over $800 million to date. And finally, we translated this success into significant profit in the last fiscal year, highlighted by Adjusted EBITDA of $147 million and net income of $102 million. We believe that as we continue to execute on our operator deals, continue to drive value from our intellectual property, and continue to innovate in advanced television, we will be in a position for sustained growth.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 2 cents in the third quarter, by 3 cents in the second quarter, and by 2 cents in the first quarter.

Revenue has now gone up for three straight quarters. In the third quarter, revenue rose 27.4% to $64.8 million while the figure rose 18.7% in the second quarter from the year earlier.

In the latest quarter, TIVO reported a profit, ending a two-quarter streak of losses. The company reported a net loss of $24.5 million in the third quarter and a loss of $19.6 million in the second quarter.

Looking Forward: For next quarter, expectations for the company’s next quarter performance are higher than they were sixty days ago. The average estimate for the first quarter of the next fiscal year is now a loss of 13 cents per share, up from a loss of 19 cents. For the fiscal year, the average estimate has moved up from 47 cents a share to 51 cents over the last sixty days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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