Image source: TiVo.
TiVo (TIVO) just reported results for the fourth quarter of fiscal year 2014, which ended on January 31.
TiVo's revenues jumped 20% year over year, to $106 million, led by a 28% increase in technology license and service sales. Revenues per subscriber declined modestly for both TiVo-owned accounts and cable service partnerships, but so did TiVo's acquisition costs per customer.
On the bottom line, TiVo swung to a $0.01 GAAP profit per share. Up from a $0.13 loss per share in the year-ago period.
These numbers met Wall Street's revenue targets, but missed earnings estimates at $0.04 per share.
The digital-video veteran continued to lose direct customers, but added 313,000 accounts via cable and satellite partners. In total, the company added 1.1 million subscribers during the 2014 fiscal year to land at 4.2 million accounts; 3.2 million of these come in via broadcast partners.
TiVo CEO Tom Rogers called 2014 "an important year for TiVo." He plans to use the company's cash flows -- $489 million of free cash collected in 2014 -- to fund share buybacks and strategic buyouts in fiscal 2015 and beyond. "We are very excited about what the future holds for TiVo," Rogers said.
Shares traded sideways in after-hours action.
