"As a result of these investments, we are on track to launch a TV Everywhere web portal powered by TiVo with our first MSO customer, which will allow subscribers the opportunity to enjoy video content on a variety of devices including tablets. In addition, we will be releasing our thin-client IP set-top box, TiVo Mini, in retail in the very near-future, which follows the successful launch of this product in our operator channel. Finally, the very popular music service Spotify, which is now available on the TiVo user interface, is yet another example of our efforts to deliver a complete entertainment experience, from television to movies to music, and we'll also be launching MLB.com on our platform soon to go along with the millions of content choices on TiVo.
"On the audience measurement front, our data analytics business continues to gain traction. We recently announced the launch of the TRA Crossmedia measurement solution, which combines Internet data, including display, online video, and social media with our television viewing and purchase behavior data to create a single cross-media data measurement source. Advertisers are increasingly demanding cross-platform measurement, and given the immense benefit a total view of household activities can bring, we believe this product will be a valuable addition to our unique insight capabilities. We continue to be excited about the potential of this business and are positioning it to be one of the elements that drives TiVo growth in the coming years.
"On the litigation front, we are continuing our efforts to protect our innovation beyond the successful actions we have had to date, which have yielded more than $1 billion in damages and consideration. Our Motorola litigation is nearing trial and we believe our prior successes position us well. Additionally, our pending case against Cisco and Time Warner Cable continues to move forward as well."
Rogers concluded, "This was an important year for TiVo as we were able to execute in five key areas. Looking ahead to the next fiscal year, we expect to continue to grow our revenues related to our current deployment deals, continue our subscription growth, and continue to efficiently manage our overall research and development spend. In addition, we continue to be highly focused on smart capital allocation to drive increased shareholder value. We also anticipate that our research analytics business will become a larger contributor to our growth. We believe that all of this, without even factoring in the potential upside from pending litigation, will help us to achieve Adjusted EBITDA profitability in Fiscal Year 2014 and sustained growth in the years beyond."
Management Provides Financial Guidance
For the first quarter of Fiscal Year 2014, TiVo anticipates service and technology revenues in the range of $60 million to $62 million. We expect lower technology revenue in the first quarter as revenue recognition from key MSO projects is expected to occur in the second quarter as opposed to first quarter. This will impact the first quarter negatively but is expected to benefit second quarter technology revenue significantly, making up for first quarter's technology revenue shortfall.
TiVo anticipates net loss in the range of ($16) million to ($19) million, and an Adjusted EBITDA of ($5) million to ($8) million, which includes $11 million to $12 million of litigation spend. TiVo expects to be profitable on an Adjusted EBITDA basis excluding litigation spend.
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