TiVo Reports Record Profitability for the Third Quarter Ended October 31, 2008
Tuesday, November 25th, 2008
- TiVo received compensation in the amount of approximately $105 million in initial litigation damages from EchoStar
- Net Income for the third quarter was $100.6 million compared to a loss of ($8.3) million in the year-ago quarter. Excluding the EchoStar damages award net loss would have been ($0.9) million
- Adjusted EBITDA for the third quarter was $95.3 million, compared to $0.2 million in the year-ago quarter. Excluding the EchoStar damages award Adjusted EBITDA would have been $7.5 million
- TiVo partners with Netflix to stream its library of over 12,000 videos directly to the TV
- Comcast announces roll out of TiVo service to additional markets
- TiVo extends distribution agreement with DIRECTV; TiVo is now partnered with three of the top five television distributors in the U.S.
- Partnership with Nero brings TiVo to the PC viewing experience
ALVISO, Calif. — TiVo Inc. (Nasdaq: TIVO), the creator of and a leader in television services for digital video recorders (DVRs), today reported financial results for the third quarter ended October 31, 2008.
TiVo-Owned subscription gross additions for the third quarter were approximately 44,000, compared to 69,000 gross additions for the year-ago period. The TiVo-Owned monthly churn rate was 1.4 %, as compared to 1.5% in the prior quarter and compared to 1.3% in the in the year-ago quarter. Overall, TiVo-Owned subscriptions ended the quarter at approximately 1.7 million. As expected, TiVo reported a net decline in MSOs/Broadcaster subscriptions as many of our mass distribution deals are still in early phases of deployment and/or development. Cumulative total subscriptions as of October 31, 2008 were 3.5 million.
Subscriptions:
Three Months Ended October 31,
(Subscriptions in thousands) 2008 2007
------ ------
TiVo-Owned Subscription Gross
Additions 44 69
Subscription Net
Additions/(Losses):
TiVo-Owned (28) 4
MSOs/Broadcasters (135) (134)
Total Subscription Net
Additions/(Losses) (163) (130)
Cumulative Subscriptions:
TiVo-Owned 1,658 1,712
MSOs/Broadcasters 1,802 2,355
Total Cumulative
Subscriptions 3,460 4,067
% of TiVo-Owned Cumulative
Subscriptions paying recurring
fees 60% 60%
More: Earnings Release
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