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Tuesday, November 24, 2009

TiVo 4Q View Below Expectations, 3Q EPS In-Line

By Kathryn Glass

FOXBusiness

Digital video recording device company TiVo Inc. (TIVO) gave fourth-quarter guidance below analyst expectations, and reported third-quarter earnings per share that were in-line and revenue that missed forecasts.

The company expects a fourth-quarter loss ranging between $13 million and $15 million, with revenue between $43 million and $45 million. On an adjusted basis, the company expects to lose between $5 million and $7 million in the fourth quarter of fiscal 2009.

Fourth-quarter guidance missed analyst estimates; analysts polled by Thomson Reuters were expecting the company to report a fourth-quarter net loss of $7.47 million, with adjusted earnings of $1.46 million on revenue of $51 million.
Third-quarter results were in-line with expectations; TiVo saw a net loss of $6.7 million or a loss of 6 cents a share in the quarter, compared to net income of $100.6 million or profit of 98 cents a share in the third-quarter of 2008.

Revenues came to $47.1 million, compared to $51.7 million during the year-ago quarter. Analysts were expecting a third-quarter loss of 6 cents a share on revenue of $47.96 million.

Shares of TiVo rose 24 cents or 2.24% to close Monday’s session at $10.97 per share. The stock rose an additional 3 cents a share in trading after-hours.

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