TiVo Reports Lower Earnings But Revenue Climbs

TiVo Inc. late Tuesday reported fourth-quarter earnings of $199,000, compared with $7.1 million a year ago. The latest quarterly results included $12.8 million in chief executive transition costs and $7.7 million in related tax benefits. On a per-share basis, the San Jose, Calif.-based company broke even versus a profit of 7 cents a share in the year-earlier period. Net revenue rose to $123.1 million from $114.1 million while its services and technology revenue, a closely monitored metric that excludes hardware sales, increased 11% to $101.7 million. Analysts surveyed by FactSet had forecast a loss of 6 cents a share on revenue of $125 million. TiVo shares rose 0.6% in after-hours trading.