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You read that right.  In the midst of story after story of record corporate losses and job cuts, TiVo will announce its first profitable fiscal year.  After being left for dead just a few years ago, TiVo has used a combination of new features, new contracts, and a lawsuit win to re-establish itself as a player in the home entertainment market.  With no debt, over $200 million in cash, and big plans, TiVo hopes this won’t be its last profitable year.

TiVo’s comeback can be tied to two events, the replacement of founder Mike Ramsay with Tom Rogers as CEO, and winning $104.6 million in damages from a patent suit against EchoStar Communications, parent company of Dish Network.  The money cleared up the last of TiVo’s debt, and allows them to continue their new direction: adding services to make the TiVo unit more useful and finding new cable companies to distribute the TiVo box. 

TiVo has added support for Rhapsody, Amazon’s Video on Demand, YouTube, Nickelodeon, and Netflix.  They have also contracted with cable giants Comcast and Cox Communications to distribute TiVo services on their set top boxes.  But with bad news everywhere, it’s nice to have a ray of sunshine, no matter how short.

Read [LA Times]