NEW YORK - TiVo Inc. (TIVO).(O), which manufactures digital video recorders, reported a quarterly profit, reversing a year ago loss, thanks to the establishment of patent blockbuster it reached with Dish Network Corp. (dish.)(O) and EchoStar Corp. (SATS).(O).
TiVo has recorded a profit of 139 million dollars, or $1.04 per share, compared with a loss of $ 14.2 million, or 13 cents per share, in the same period a year earlier, it said on Tuesday.
The results of the stronger came as income has dropped from 25% to $ 45.8 million in its fiscal year first quarter and is largely a reflection of a gain of 175.7 million of the colony.
The agreement with dish and EchoStar, both controlled by Charlie Ergen, called for an initial payment of TiVo for $ 300 million, with $ 200 million to be paid in six equal annual instalments between 2012 and 2017.
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