The Cisco/Motorola settlement contributed USD 6.1 million to revenues, and both net income and adjusted EBITDA included USD 108.1 million from past damages and USD 10.7 million in litigation expense. Net profit also included USD 167 million from the recognition of deferred tax assets.
Subscriptions increased 33 percent year-on-year to 3.6 million, driven by growth at cable operators. Tivo said its latest deployment is its first with an IPTV provider, Com Hem in Sweden. Other recent or planned roll-outs include Atlantic Broadband, Cable One, GCI, Midcontinent and Mediacom. It also expects a sales boost later in the year from the recently announced Roamio set-top box, which it says offers better margins that the previous Premiere range.
Cash from the legal settlements gave the company over USD 1 billion at the end of the period, and licensing deals resulting from the settlements are expected to provide further cash flow support going forward. For fiscal Q3, Tivo forecast service and technology revenues of USD 80-82 million, adjusted EBITDA of USD 20-22 million and net profit of USD 6-8 million.
