TiVo Corporation Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2017; Reaffirms Earnings Guidance for the Full Year 2017
For the nine-month period, the company reported total revenues, net was $612.220 million against $396.750 million a year ago. Operating income was at $1.846 million against $1.540 million a year ago. Loss before income taxes was $42.579 million against $47.446 million a year ago. Loss from continuing operations, net of tax was $56.40 million or $0.47 diluted per share against income of $27.379 million or $0.32 diluted per share a year ago. Net loss was $56.395 million or $0.47 diluted per share against income of $22.862 million or $0.27 diluted per share a year ago. Non-GAAP Pre-tax Income was $174.465 million, compared to $114.534 million in 2016. Adjusted EBITDA was $215.575 million compared to $156.184 million in 2016.
For fiscal year 2017, the company maintains its expected revenue range of $810 million to $830 million, which includes approximately $35 million of hardware revenues at the mid-point of expectations. Additionally, the company expects the full year GAAP Operating loss to be $8 million to $2 million, which is an improvement from the prior range due to lower equity-based compensation costs and transaction, transition & integration costs. Adjusted EBITDA expectations continue to be $276 million to $290 million. The company now expects a GAAP loss before taxes to be in the range of $70 million to $60 million. On the cost front, the company maintains its 2017 non-GAAP pretax income expectations of $218 million to $232 million. The company expected cash taxes to be in the range of $20 million to $22 million. The company expected depreciation to be $23 million.