twice connect
careers

TiVo Posts FY Profit

3/03/2009 10:42:00 AM Eastern

Alviso, Calif. — TiVo reported a profit, but 611,000 net subscribers for its fiscal year, ended Jan. 31.

TiVo’s total cumulative subscriptions for the fiscal year was 3.3 million, down from 3.94 million the previous year. For the fourth quarter, also ended on Jan. 31, the net loss of subscribers for the quarter was down 125,000 compared with the previous year’s loss of 122,000.

Net income for the year was $103.6 million compared with the prior year’s loss of  $32 million. Excluding damages of $104.6 million that EchoStar paid to settle its patent-infringement suit, net income would have been $300,000 for the fiscal year.

TiVo reported net revenues for the fiscal year of $249.7 million, down from the previous year’s $272.7 million.

Tom Rogers, president/CEO of TiVo, commented on the EchoStar suit by saying, “Our litigation with EchoStar has entered the final enforcement stage [on infringement of its Time Warp patent.] We believe they continue to infringe our patent and violate the injunction issued by the District Court