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TiVo Posts Surprise FY Q1 Profit On Legal Settlement

TiVo late Tuesday reported better-than-expected results for its fiscal first quarter ended April 30. For the quarter, the DVR seller posted revenue of $45.7 million and diluted EPS of $1.04 a share, with adjusted EBITDA of $149.4 million. The Street had been expecting revenue if $42 million and a loss of 31 cents a share. Adjusted EBITDA and net income reflect litigation proceeds of $175.7 million from the company’s recent patent infringement settlement with Dish Network.

 

TiVo First-Quarter Loss Widens

TiVo posted a wider first-quarter loss on mounting research-and-development spending and patent-litigation costs related to its "time-warping" digital-video-recorder technology.

Senh: How is Tivo still around when pretty much every cable company has their own DVR's?

 

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