TiVo, a brand of digital video recorder (DVR), announced significant increase of first-quarter net income due to reduced operating costs.
The income constituted $3.6 million, or 4 cents per share, that is up 336 percent from $835,000, or 1 cent per share, in the same period a year earlier.
The company’s revenue for services and technology gained $54.9 million, down from $58.1 million the previous year.
TiVo reported that it had 3.8 million total subscribers in the first quarter, compared with 4.3 million in the same period a year ago.
As for forecasts, the company expects a net loss of $2 million to $4 million in the current quarter on service and technology revenue of $53 million to $55 million.
The company’s stock closed at $8.10, down 16 cents or 1.9 percent, on Wednesday. After-hours trading added 2 cents to shares.
Malaysia needs Russia's assistance in maintaining and repairing Su-30MKM fighter jets
Japanese Prime Minister Shinzo Abe said that US army bases will not appear on the southern Kuril Islands in the even Russia delivers them to Japan
Posters for the play "Adam and Eve. Life after Paradise" with pictures of dancers Arsen Aghamalyan and Oksana Vasilyeva were banned in the city of Tver, Central Russia