TiVo Q4 Down, But EchoStar/Dish Suit Ups 2008 Profits2 Mar, 2009 By: Chris Tribbey
TiVo posted a fourth-quarter loss of $3.6 million (ended Jan. 31) but enjoyed profits of $104 million for all of fiscal 2008, the company reported. Damages awarded in its patent infringement case against EchoStar/Dish Network helped the company’s balance sheet.
“This was another solid quarter for TiVo, and we now bring to a close our most financially successful year ever as we recorded our first … net income positive year in company history, with or without the EchoStar litigation proceeds,” said TiVo president and CEO Tom Rogers. “As the economic turmoil continues to exert downward pressure on the entire consumer electronic industry, our strategy so far has proven effective.”
TiVo has asked a Texas judge to award it more damages in its suit, and Rogers said he feels confident it will happen.
“Our litigation with EchoStar has entered the final enforcement stage. We won the original trial and received nearly $105 million in initial damages from EchoStar’s infringement of our Time Warp patent,” he said. “We believe they continue to infringe our patent and violate the injunction issued by the District Court requiring them to disable the DVR functionality in their infringing models.”