TiVo Profit Rises On Revenue Growth, Lower Expenses

(RTTNews) - Set-top box maker TiVo Inc (TIVO) on Tuesday reported fourth-quarter net earnings of $7.1 million or $0.07 per share compared with $0.7 million or $0.01 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter were higher $114.1 million compared with $106.3 million in the prior year.

Service and technology revenues climbed to $91.6 million from $84 million last year. Analysts estimated revenues of $89.9 million.

Operating expenses for the quarter fell to $53.7 million from $60.6 million a year ago.

TiVo said its total subscriptions were up 30% year-over-year, which included a 40% increase in MSO subscriptions, bringing total annual subscription additions of almost 1.3 million.

For the first quarter, the company expects service and technology revenues of $90 million to $92 million, while analysts expect $92.3 million.