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Author: leaderoftheback Three stars, 500 posts CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 17076  
Subject: Re: Tivo Swings to 3rd-Quarter Profit Date: 11/28/2012 5:55 PM
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Here's what I don't like-
Management gave guidance of a net loss of $15mm to $17mm. Net profit was $59mm due to Verizon kicking in $78mm of their hard un-earned money. Doing some quick arithmetic; if you subtract the $78mm windfall, the loss would have been $19mm...much worse than guidance. Frankly, I don't know what that means, but based on after-market action, I'm guessing a few others have done that math, too.

I am losing faith (in my old-fashioned way) in management here. If the news is all positive- more subscribers, less churn, firmer hold on patents, etc...why can't this company turn anywhere near a real profit on the basic business? Tom Rogers- you are not worth the money we are paying you!

I think this is a really good reason to sell my shares...but I'm not going to. If next quarter, the results are similar, I'm going to seriously consider it (shares are not likely to fall out of the current trading range or break out to the up-side). I think the bears on Tivo might have it right but maybe, just maybe, all of this incremental business around the world will move core earnings up. There has been no real progress, though...ever.

-Randy
still long TIVO, and still loving owning the actual (ancient Series II) set-top box, but losing patience with Mr. Rogers.
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