TiVo Inc. (TIVO), which introduced advancedset-top boxes for consumers and cable-TV operators in August,posted third-quarter profit that beat analysts’ estimates aftersigning up more subscribers.
Net income shrank to $12.5 million, or 10 cents a share,from $59 million, or 44 cents, a year ago, which included a gainfrom a legal settlement. Analysts had forecast profit of 6cents, the average of 16 estimates compiled by Bloomberg. Salesrose 43 percent to $117.3 million in the quarter ended Oct. 31,San Jose, California-based TiVo said today in a statement.
The Roamio set-top boxes integrate cable programming withInternet services, such as Netflix Inc.’s $7.99-a-monthsubscription, making it easier for consumers to find and accessshows. This year, TiVo has signed deals with European pay TVoperators to use the boxes. It’s also seeking deals in the U.S.
Results last year included $78.4 million in proceeds aftersettling patent litigation with Verizon Communications Inc.Sales beat analysts’ projections of $103.9 million.
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