TiVo (TIVO) Tops Q4 EPS by 3c, Offers Guidance

TiVo (NASDAQ: TIVO) reported Q4 EPS of $0.07, $0.03 better than the analyst estimate of $0.04. Revenue for the quarter came in at $91.7 million versus the consensus estimate of $89.03 million.

Management Provides Financial Guidance

For the first quarter of Fiscal Year 2016, TiVo anticipates service and technology revenues in the range of $90 million to $92 million. This guidance reflects a sequential increase in MSO and Digitalsmiths' service revenue offset by potential decreases in technology revenue and TiVo-Owned service revenue.

TiVo expects Adjusted EBITDA to be in the range of $26 million to $29 million and net income to be in the range of $5 million to $8 million. Relative to the prior quarter, first quarter Adjusted EBITDA and net income will benefit from lower marketing spend and further efficiencies in R&D, and net income will be impacted by higher GAAP taxes compared to the fourth quarter, primarily due to tax benefit for research and development credit in the fourth quarter.

Additionally, looking ahead to the full fiscal year, TiVo expects further acceleration from its MSO business, an improving retail business, increasing contribution from Digitalsmiths' products and services, and continued cost and capital structure improvements. We expect these trends to have a positive impact on TiVo's revenue and Adjusted EBITDA growth going forward.

Management's guidance includes Adjusted EBITDA, a non-GAAP financial measure as defined in Regulation G. TiVo has provided a reconciliation of EBITDA and Adjusted EBITDA to net income (loss) in the attached schedules solely for the purpose of complying with Regulation G and not as an indication that EBITDA or Adjusted EBITDA is a substitute measure for net income (loss).

For earnings history and earnings-related data on TiVo (TIVO) click here.

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