settlements with Cisco and Motorola -- boosted by new cable operator deals -- have boosted TiVo net earnings to a new record.
Net income soared to $268.9 million in its fiscal second
quarter, versus $27.7 million loss. Net revenues were up to $100 million from $65 million in the previous period.
Litigation with Cisco and Motorola will bring, when fully realized on its
books, a total $490 million. Along with other patent litigations, TiVo has garnered about $1.6 billion in damages and future consideration.
TiVo added 238,000 net customers -- around 33% --
because of cable operator gains from Atlantic Broadband, Cable One, Com Hem, GCI, Midcontinent, and Mediacom, now totaling 3.6 million. It had 2.7 million as of its last second-quarter results.
TiVo’s chief executive officer Tom Rogers says the company's current MSO strategy has brought in almost 1 million new TiVo subscriptions. Revenue from multiple system cable operators
(MSOs) rose 58% in the second quarter.
Going forward, TiVo expects a settling of its financial results, expecting third-quarter revenues to be in the range of $80 million to $82 million,
with net income of between $6 million to $8 million. TiVo is counting on its new Roamio DVR machine, which has received strong early sales.
Rogers says in the earnings call: "Apple TV gets
a lot of play, Roku gets a lot of play, Sling, Google TV, Chromecast, we look at that and look at the set-top box and look at DVR. We think we're the only product out there that embraces everything
they do in a single solution.”