Shares of Rovi Corporation soared over 14 percent in early trading to $20.50 on the company’s latest earnings report. 

The company reported fourth-quarter revenue of $149.5 million, an increase of 11 percent compared to $134.2 million in the same quarter last year. The company said revenues were higher than in the comparable period in the prior year, due to catch-up payments from new deals. 

After taking into consideration discontinued operations, the company reported fourth quarter net income of $26.3 million, compared to a net loss of $5.8 million for the same quarter of 2014. Fourth-quarter diluted income per share was $0.32, compared to $0.06 Diluted loss per share in the fourth quarter of 2014.

“We renewed our IP License agreement with AT&T, which now includes the DirecTV footprint, for a seven year term,” noted Tom Carson, president and CEO of Rovi, in a statement. “We also renewed our IP License agreement with Sony. As a result, full year revenues were near the high end of our revised estimates.” 

Carson said that in 2016, Rovi is focused on renewing IP licenses with Comcast and DISH and on building the company’s product portfolio. 

“We believe achieving these goals will help drive stockholder value for years to come,” Carson said. 

Excluding revenues from Comcast and DISH, Rovi anticipates 2016 revenue of $490 million to $520 million and Non-GAAP Diluted income per share of $1.35 to $1.65.