TiVo (TIVO) - Get Report was up 35.2% in late afternoon after the company announced it has received several patents for the technology at the heart of its "personal video recorder."

The company welcomed the patents as formal recognition for invention of the device, which allows pause and review control for live broadcasts, among other features.

TiVo is facing new competition with

Microsoft's

(MSFT) - Get Report

introduction of Ultimate TV.

TiVo is scheduled to release first-quarter results after the close. Analysts are expecting the company to post a loss of $1.23 a share.