TiVo Issues 2017 Revenue Guidance; Increases Stock Repurchase Program

(RTTNews) - TiVo Corp. (TIVO) announced, for fiscal 2017, the company expects revenue of $800 million to $835 million including hardware, with a GAAP loss before taxes of $55 million to $70 million and Non-GAAP Pre-tax Income of $200 million to $225 million.

Tom Carson, President and CEO of TiVo, stated: "The TiVo integration is proceeding as planned. We continue to expect cost synergies of at least $100 million with 65% coming from actions taken within 12 months of the close."

TiVo's Board increased the company's stock repurchase program authorization to $150 million. Pursuant to its strategy of allocating excess capital to the highest risk-adjusted return alternative available, the Board will continue to regularly review all available capital allocation opportunities.

TiVo's Board of Directors declared a quarterly cash dividend of $0.18 per common share, to be paid on March 15, 2017, to all stockholders of record as of the close of business on March 1, 2017.