Post-Earnings Briefing - TiVo

LONDON, April 2, 2015 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Investor-Edge.com has issued free post-earnings review on TiVo Inc. (NASDAQ: TIVO). On March 03, 2015, the company reported its financial results for Q4 FY15 and full year FY15 (period ended January 31, 2015). Click on http://get.Investor-Edge.com/pdf/?c=TiVo&d=02-Apr-2015&s=TIVO to read our free earnings review on TiVo Inc. (TiVo). The company's net revenues came in at $114.13 million for Q4 FY15 and at $451.48 million for FY15. President and CEO of TiVo, Tom S. Rogers, stated that Q4 FY15 completed what was a strong year of execution for TiVo. During the quarter, TiVo made significant strides building new distribution relationships and expanding existing ones, including announcements with Frontier and Vodafone/ONO, he added. Our free coverage report can be accessed at:

http://get.Investor-Edge.com/pdf/?c=TiVo&d=02-Apr-2015&s=TIVO

Earnings Overview 

For Q4 FY15, TiVo's net revenues increased by $7.80 million from $106.33 million in Q4 FY14. The company's Q4 FY15 net revenues missed Bloomberg analysts' expectations of $115.56 million. TiVo's Service segment revenues in Q4 FY15 increased to $40.50 million from $36.32 million in Q4 FY14. The company's Technology segment revenues increased to $51.17 million in Q4 FY15 from $47.72 million in Q4 FY14. Further, TiVo's Hardware segment revenues came in at $22.46 million in Q4 FY15 compared to $22.30 million in Q4 FY14. Free research on TIVO can be downloaded in PDF format at:

http://get.Investor-Edge.com/pdf/?c=TiVo&d=02-Apr-2015&s=TIVO

In Q4 FY15, TiVo's adjusted EBITDA improved to $24.16 million from $19.55 million in Q4 FY14 and exceeding guidance range of $21 million to $24 million for Q4 FY15. The company reported net income of $7.06 million, or $0.07 per diluted share, in Q4 FY15 compared to $0.71 million, or $0.01 per diluted share, in Q4 FY14. Bloomberg analysts had expected net income of $3.98 million, or $0.03 per diluted share, for the reported quarter.

In FY15, TiVo's net revenues grew by $45.23 million from $406.25 million in FY14. The company's FY15 net revenues slightly missed Bloomberg analysts' forecast of $452.69 million. TiVo's Service segment revenues increased to $150.01 million in FY15 from $138.84 million in FY14. The company's Technology segment revenues rose to $202.35 million in FY15 from $165.63 million in FY14. TiVo's Hardware segment revenues came in at $99.12 million in FY15 compared to $101.79 million in FY14.

For FY15, TiVo's adjusted EBITDA was $108.61 million compared to $159.39 million in FY14. The company's FY15 net income stood at $30.83 million, or $0.28 per diluted share, compared to $271.82 million, or $1.99 per diluted share, in FY14. Bloomberg analysts had expected TiVo's FY15 net income of $27.75 million, or $0.22 per diluted share. Sign up and read the free analyst's notes on TIVO at:

http://get.Investor-Edge.com/pdf/?c=TiVo&d=02-Apr-2015&s=TIVO

As of January 31, 2015, TiVo total cumulative subscriptions were 5.47 million, up 30%, or 1.26 million from 4.21 million, as of January 31, 2014.

Mr. Rogers said that TiVo executed well in FY15, delivering strong financial results, growing its subscription base, introducing great new innovation in its product and feature offering, and deploying the company's substantial cash resources to drive shareholder value.

During Q4 FY15, the company repurchased 9.7 million shares for $117 million, aggregating the total repurchases to approximately $346 million, or 27 million shares, for FY15.

For Q1 FY16, TiVo anticipates service and technology revenues in the range of $90 million to $92 million. The company also 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, for Q1 FY16. Visit Investor-Edge and access the latest research on TIVO at:

http://get.Investor-Edge.com/pdf/?c=TiVo&d=02-Apr-2015&s=TIVO

Stock Performance  

On the day following the earnings release, March 04, 2015, TiVo's stock gained 2.71% finishing the session at $11.56. Since then, the stock has moved both ways. On the last close, Wednesday, April 01, 2015, the company's shares ended 0.38% higher at $10.65. The stock vacillated between $10.51 and $10.78 during the session. A total of 0.96 million shares were traded which was below their three months average volume of 1.67 million shares. Over the last one month and past three months, TiVo's shares have lost 4.74% and 10.05%, respectively. Shares in the company closed below their 50-day and 200-day moving averages of $10.79 and $12.29, respectively.

Sneak Peek to Corporate Insider Trading  

In the last one month, there were 36 corporate insider transactions done by 6 individuals. Between March 02, 2015 and March 23, 2015, a total of 706,058 shares were disposed at an average price of $9.59 per share and for a total value of $6.77 million. The following are some of the transactions during the aforementioned period, Thomas (Tom) S. Rogers purchased 349,810 shares, worth $2.28 million, at an average price of $6.52, and sold 661,018 shares at an average price of $9.52 per share with the transactions amounting to a total value of $6.29 million; Jeffrey (Jeff) Klugman, Executive Vice President, General Manager of Products and Revenue at TiVo, disposed 13,500 shares at an average price of $10.60 per share; and  Charles (Dan) Phillips, Senior Vice President, Chief Operating Officer at TiVo, sold 11,339 shares at an average price of $10.64 per share.  Complimentary in-depth research on TIVO is available at:

http://get.Investor-Edge.com/pdf/?c=TiVo&d=02-Apr-2015&s=TIVO

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