TiVo has reported record profits for Q3 2008. The net income for the quarter was $100.6 million compared to a loss of $8.3 million a year ago. Adjusted EBITDA for Q3 was $95.3 million compared to $0.2 million the same quarter last year.
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Technology and service revenues for the quarter were $51.7 million compares to $58.3 million in Q3 2007. TiVo owned subscription gross for Q3 was 44,000 compared to 69,000 last year. Churn rate was 1.4% compared to 1.5% last year.
"This was another solid quarter for TiVo, our fifth straight of Adjusted EBITDA profitability and we are well on our way to delivering our first Adjusted EBITDA positive year," said Tom Rogers, President and CEO of TiVo. "Our strong balance sheet, consisting of over $200 million in cash and short term investments and no debt, along with our continued solid financial performance and the progress we have made on our strategic content and distribution relationships, positions us well for the future."
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