CASPER
New member
EchoStar Payment Boosts TiVo's 3Q Net Income
--------------------------------------------------------------------------------
TiVo's third quarter financial numbers got a boost from its legal case involving EchoStar/DISH Network.
TiVo reported that third quarter net income was $100.6 million, compared to a loss of $8.3 million for the same period last year. The figure got a boost from the nearly $105 million EchoStar/DISH Network paid to TiVo tied to the DVR pioneer's patent infringement litigation filed against the DBS company. When excluding the EchoStar damages award, TiVo said it would have recorded a net loss of $900,000 for the quarter.
TiVo CEO Tom Rogers said the company is looking forward to a hearing scheduled in February that will focus on EchoStar's "workaround" contained in its DVRs. The Texas federal court handling the matter will take up whether the satellite TV company is in contempt of an injunction in the case concerning the workaround, which aims to address TiVo's patent infringement claims.
Rogers called the upcoming hearing "a positive step, particularly the accelerated discovery ordered by the court, towards the ultimate resolution of all issues in the litigation." He added, "We remain confident that we will prevail in showing that EchoStar's workaround does not avoid infringement, that the District Court will ultimately enforce the injunction and award further damages from EchoStar's continued infringement of our Time Warp patent."
As for other business dealings, Rogers highlighted TiVo's ongoing relationship with Comcast, and boasted about the company's extended distribution agreement with DIRECTV. Also, Rogers spoke about TiVo's partnership with Netflix to stream more than 12,000 videos to the TV.
In addition, Rogers promoted TiVo's financial standing, pointing out the company's $200 million in cash assets, lack of debt and its subscription model.
In terms of customers, TiVo said its internally-owned subscribers ended the quarter at 1.658 million. That reflects a net decline of about 28,000. Customers with MSO partners fell by 135,000, for a final tally of 1.8 million. TiVo ended the quarter with a cumulative 3.46 million subscribers.
--------------------------------------------------------------------------------
TiVo's third quarter financial numbers got a boost from its legal case involving EchoStar/DISH Network.
TiVo reported that third quarter net income was $100.6 million, compared to a loss of $8.3 million for the same period last year. The figure got a boost from the nearly $105 million EchoStar/DISH Network paid to TiVo tied to the DVR pioneer's patent infringement litigation filed against the DBS company. When excluding the EchoStar damages award, TiVo said it would have recorded a net loss of $900,000 for the quarter.
TiVo CEO Tom Rogers said the company is looking forward to a hearing scheduled in February that will focus on EchoStar's "workaround" contained in its DVRs. The Texas federal court handling the matter will take up whether the satellite TV company is in contempt of an injunction in the case concerning the workaround, which aims to address TiVo's patent infringement claims.
Rogers called the upcoming hearing "a positive step, particularly the accelerated discovery ordered by the court, towards the ultimate resolution of all issues in the litigation." He added, "We remain confident that we will prevail in showing that EchoStar's workaround does not avoid infringement, that the District Court will ultimately enforce the injunction and award further damages from EchoStar's continued infringement of our Time Warp patent."
As for other business dealings, Rogers highlighted TiVo's ongoing relationship with Comcast, and boasted about the company's extended distribution agreement with DIRECTV. Also, Rogers spoke about TiVo's partnership with Netflix to stream more than 12,000 videos to the TV.
In addition, Rogers promoted TiVo's financial standing, pointing out the company's $200 million in cash assets, lack of debt and its subscription model.
In terms of customers, TiVo said its internally-owned subscribers ended the quarter at 1.658 million. That reflects a net decline of about 28,000. Customers with MSO partners fell by 135,000, for a final tally of 1.8 million. TiVo ended the quarter with a cumulative 3.46 million subscribers.