WASHINGTON (dpa-AFX) - TiVo Inc. (TIVO) Thursday reported a turn to profit for the fourth quarter, mostly on a settlement benefit from AT&T related to its patents.
TiVo reported a fourth quarter net income of $7.2 million or $0.06 per share, compared to a loss of $34.3 million or $0.30 per share in the prior-year quarter.
On average, nine analysts polled by Thomson Reuters expected TiVo to report a loss $0.21 per share for the quarter. Analysts' estimates typically exclude one-time items.
Results for the quarter included $2.0 million licensing fees, $54.4 million litigation proceeds, $16.0 million related to settlement expenses.
Net revenues for the quarter increased to $66.5 million from $55.8 million in the corresponding quarter last year.
Nine analysts on consensus expected revenues of $50.89 million for the quarter.
Service and technology revenues increased 21 percent to $50.0 million from the similar quarter a year ago. TiVo's total net subscriptions increased by 234,000, compared to a loss of 223,000 subscriptions a year earlier.
Looking ahead to fiscal year 2013, TiVo expects a net loss in the range of $18 million to $20 million, with service and technology revenues in the range of $53 million to $55 million.
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