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TiVo   Revenues were higher

TiVo Q4 revenue $252.3 million, increase 69%

TiVoTiVo Corporation reported financial results for the fourth quarter and for the full year ended December 31, 2016.

The company reported fourth quarter revenue of $252.3 million, an increase of 69% compared to $149.5 million in the fourth quarter of 2015.

READ MORE TiVo Q4 net income was $7.1 million

As expected, revenues were higher than in the comparable period of the prior year due to the completion of the TiVo Solutions Inc. acquisition, which contributed $125.8 million in revenues, including revenue from a license agreement with Samsung which included catch-up payments to make the company whole for the pre-license period of use.

Fourth quarter 2016 Net income was $9.8 million, compared to Net income of $26.3 million for the fourth quarter of 2015.

Fourth quarter 2016 Income from continuing operations before income taxes was $23.0 million, compared to $27.1 million of Income from continuing operations before income taxes in the fourth quarter of 2015.

On a Non-GAAP basis, fourth quarter 2016 Non-GAAP Pre-tax Income was $90.8 million, compared to $57.8 million in the fourth quarter of 2015. Estimated cash taxes for the quarter were approximately $8.7 million.

GAAP Diluted weighted average shares outstanding and Non-GAAP Diluted Weighted Average Shares Outstanding for the fourth quarter of 2016 were 119.3 million.

For the full year 2016, the company reported revenues of $649.1 million, compared to $526.3 million for 2015.

Including TiVo Solutions Inc. in the results for the period increased revenue by $147.4 million, which includes revenue from a license agreement executed in the fourth quarter of 2016 with Samsung that included catch-up payments to make the company whole for the pre-license period of use.

The full year 2016 Income from continuing operations, net of tax was $37.2 million, compared to a $4.3 million loss for 2015.

After taking into consideration discontinued operations, the full year 2016 Net income was $32.7 million, compared to a $4.3 million loss for 2015.

On a Non-GAAP basis, 2016 full year Non-GAAP Pre-tax Income was $205.3 million, compared to $161.5 million for the full year in 2015.




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