TiVo loss, and predicts more
TiVo, the digital video recorder maker, has reported a narrower loss than expected thanks to a pick-up in sales for its new Premiere recorder, but forecast a wider-than-expected net loss in the fiscal third quarter.
The company said it expects a net loss in the range of $19 million to $21 million for its fiscal third quarter citing higher research and development costs, and legal fees from lawsuits, including its ongoing battle with EchoStar and Dish Network.
The company posted a fiscal second-quarter net loss of $15.3 million, compared with a loss of $2.7 million in the year ago period. TiVo had expected a net loss of $17 million to $19 million. Revenue fell 10.4 per cent to $51.6 million but beat analysts’ expectations.
Chief Executive Tom Rogers said that it is the first quarter in three years that sales of TiVo DVRs through retailers have increased year to year. He also indicated the company would look more to Europe – where it has recent STB integration deals with Virgin and ONO.